Cold Staking on Flare Wallet and NIX to be Added to Particl
Particl has recently started to add more cryptocurrencies to its desktop application. Along with Bitcoin, Zcoin has recently been added to Particl Desktop and will be followed shortly by MakerDAO’s DAI stablecoin.
This ability to add new coins to Particl has opened new doors and allowed Particl to work more closely with other blockchain projects. One such example is with the Flare Wallet team.
As such, we are excited to announce that Flare Wallet has successfully integrated cold staking for Particl on mobile and will be going live with the update somewhere next week. In exchange, Particl will be adding NIX to Particl Desktop V3.0, making it possible to easily swap NIX for PART to buy anything on the Particl Marketplace without leaving any digital footprint behind.
Particl Cold Staking on the Flare Wallet
In the next Flare Wallet update, you’ll be able to securely stake your PART using their brand new integration of Particl’s cold staking protocol. You’ll be able to set it up by either connecting to a staking node or a staking pool!
This update is scheduled for in a few days!
What is Cold Staking?
Cold staking is, in simple terms, the ability to delegate the staking power of your coins to an external staking node that contains no coin. This staking node can be hosted on any device, whether at home, on a VPS (cloud servers), or on any internet-connected device. Its only purpose is to stake on the network on behalf of other wallets.
Cold staking significantly improves the security of your funds when staking. Since you’re putting in charge an external node to do the staking, you can store your coins on any sort of device, online or off-line. That can be a cold wallet, a hardware device (i.e. Ledger or Trezor), a mobile wallet (Particl Copay or Flare Wallet), a multi-signature address, and etc.
If your staking node ever gets breached into or hacked, the attacker wouldn’t be able to steal any coin as the node itself contains no coin at all. All it’s doing is staking on the network using the weight of coins stored securely somewhere else.
To learn how to set up your own cold staking node, check out this tutorial: https://particl.news/guide-setting-up-particl-cold-staking-f5d9073bac4
Available on the Mobile Wallet
In just a matter of days, Flare Wallet will be pushing a new update to its mobile wallet which will enable cold staking for Particl.
Don’t worry about the mobile data cost of staking. Since it’s not the wallet itself that does the staking (it’s only delegating its staking power), it’ll cost you nothing!
NIX to be Added to Particl
In exchange, Particl will be adding NIX to the in-app swap engine of Particl Desktop V3.0 so that it can easily be swapped for PART to privately buy and sell anything on the Particl Marketplace.
What is the Particl Marketplace
The Particl Marketplace is a decentralized and global multi-vendor marketplace that lets anyone in the world buy and sell anything without leaving any digital footprint behind. It charges no commission fee, allowing vendors to keep more money in their pockets than ever.
The Particl Marketplace restores the balance of power back to the users by taking all third-parties out of the equation. It eliminates any influence over the marketplace and fixes the problems of trust, personal data abuse, and enrichment of large corporations in the eCommerce industry.
It preserves the privacy of the users at any point in time and protects them from scam and fraud by forcing the other party to keep their end of any agreement using a two-party escrow system.
NIX to be Added to Particl on V3.0 Release
NIX will be making its way onto Particl on the V3.0 release of Particl Desktop. This will provide the NIX community with a much better first impression of Particl and allow them to start using it much more easily and quickly.
Learn more about Particl V3.0 and what new stuff it will introduce by checking out this blog post: https://particl.news/stepping-things-up-again-with-particl-desktop-3-0-383646386813
Collaboration is King
The ability to add cryptocurrencies to Particl is opening up doors for collaboration with other projects. This is a great example of how projects can work together for the betterment of their respective platforms.
Is there any coin you would like to see on Particl? Or maybe you are a project looking to be added and would love to collaborate with Particl? Then just make a request on the listing application form located on Particl’s official website and lets open up Particl to the world of crypto!