Decentralized oracle provider Chainlink announced the start of Economics 2.0, a new page in the protocol's development. It begins with staking.
Related: Chainlink To Enable Cross-Chain Smart Contracts in 2022
The Chainlink team published a blog post that says staking aims to enhance the security level by applying rewards and penalties to incentivize the network’s proper operation.
After the news went public, the price of the LINK coin increased by over 12%. Currently, the cryptocurrency trades at around $8.5. It has a market cap of over $3.9 billion. This brings LINK to the 21st place as the largest crypto.
Chainlink also introduced its goals, roadmap, and initial implementations. The company mentioned that staking will evolve over time, along with the growth of the number of oracles and services that will generate higher amounts of fees. First, Chainlink will focus on creating a simple and secure ground. Based on the received feedback, the team will expand the scope and add complexity to the staking design.