IOTA HUGE NEWS - IOTA STAKING - Firefly WALLET TUTORIAL

IOTA HUGE NEWS - IOTA STAKING - Firefly WALLET TUTORIAL

The expansion of the token utility of IOTA will offer new opportunities to token holders to be rewarded for their participation in the growing ecosystem.

The Shimmer network, IOTA’s staging network, will be the first project to use the IOTA network to fairly distribute its entire token supply – transforming the IOTA Tangle into a fair launchpad of unseen possibilities of new token economies.

This blog post explains the reasons behind the decision to transform the IOTA ledger into a fully-fledged multi-asset ledger and how IOTA will become a fair launchpad for new token economies and networks.

With the introduction of staking to IOTA, we want to make fair token launches accessible to the entire community and give innovators the opportunity to incentivize a large and passionate community. IOTA becoming a multi-asset ledger means that it will offer many more possibilities for token holders to utilize their tokens and participate in new opportunities.

How does staking work in IOTA?
Staking IOTA tokens is done through a simple transaction within the Firefly wallet to indicate to the network the beginning of the participation in staking tokens. All nodes in the IOTA network using the new staking plugin can recognize and process staking information, record them individually and calculate rewards associated with any IOTA addresses on which staking has been activated.

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#IOTA #IOTAstaking #cryptocurrencies

[den]

Thank you so much! It's really simple

[oncryptonaut]

IoTa😍#Coming strong 💪
Greetings from GerMoney 😉

[pabloaristi]

thanks! but...do you have a video where you actually do the starking process?

[leroyce]

I am trying to connect firefly wallet to my ledger nano. I have followed all steps including downloading iota on ledger live and logging into my ledger nano. Both red crosses change to green ticks and I try to click continue and nothing happens when I click continue. Not sure why this is happening.

[sammi]

Bouhh wihdrawal from Binance to Firefly is actually suspended. A solution?

[lumicon]

great! thanks! ..can iota firefly receiving addresses now be used multiple times?

[christopherbosman]

Hey @CrptoNeverSleeps. Binance has suspended withdrawal to the IOTA network (UK). Do you know how to get around this please?

[brianelliottjr]

Is your nano ledger seed phrase exposed when connecting ledger to firefly wallet?

[languagetrainer]

I am staking IOTA as well. But strangely enough sometimes when I log into Firefly, my IOTA amount is almost the double, to go back to the right amount in about ten senconds. anyone any idea how this is possible?

[sanchiakemp]

Thank you so much this was very helpful

[sarahlynnette]

My wallet shows the network bars as yellow and the status as "Network Degraded". How can i fix this?

[dusandinic]

F*** Binance you can’t withdraw what do we do now?

[eliyahysrayl]

Anyone know what to do if you forget your Firefly wallet password?

[sheerazbadar]

I tried it today it says binance has suspended IOTA withdrawals, any thoughts on what are my other options and or why is the withdrawal suspended?

[isfanandrei]

Easy as pie!! But where is the staking button? can someone help pls

[greekguy]

Is the firefly using the bep20 network

[宋允光]

It started on 12/28, you can still join now

[emmash]

I need support with funding my firefly wallet from Binance. Ive been having this challenge for days now.

[MrSelfmade]

Where is the fucking tutorial for staking? Title should be tutorial for withdrawing funds