Paper Title
Empowering Decentralized Finance: Designing and Developing a Token Staking DApp
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Registration ID: IJNRD_218852
Published ID: IJNRD2404736
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Keywords
Token Staking
Abstract
Token staking decentralized applications (DApps) have emerged as a prominent feature within blockchain ecosystems, providing a mechanism for participants to contribute to network security, governance, and incentivization. This paper presents a comprehensive review of token staking DApps, focusing on their architecture, functionalities, challenges, and future prospects. The study begins with an overview of token staking, elucidating its significance in blockchain networks and its role in incentivizing network participants. Subsequently, various types of token staking DApps are examined, including those designed for staking-as-a-service, governance, yield farming, and decentralized finance (DeFi). Furthermore, the paper delves into the architectural components of token staking DApps, exploring key elements such as smart contracts, consensus mechanisms, and reward distribution algorithms. The analysis also addresses the technological challenges associated with token staking, such as scalability, security vulnerabilities, and interoperability. Moreover, the research evaluates the current landscape of token staking DApps, highlighting notable projects, platforms, and protocols. Case studies of successful token staking DApps are presented, along with lessons learned and best practices for developers and stakeholders. Finally, the paper discusses future directions and potential advancements in the field of token staking DApps. This includes innovations in consensus algorithms, cross-chain interoperability solutions, and novel use cases for staking beyond blockchain networks. Overall, this research paper provides valuable insights into the design, implementation, and implications of token staking DApps, contributing to the understanding and advancement of decentralized finance and blockchain technology.
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How To Cite (APA)
Ansh Bahl, Simran Arora, Sahil Garg, & Wajid Ali (April-2024). Empowering Decentralized Finance: Designing and Developing a Token Staking DApp. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(4), h298-h301. https://ijnrd.org/papers/IJNRD2404736.pdf
Issue
Volume 9 Issue 4, April-2024
Pages : h298-h301
Other Publication Details
Paper Reg. ID: IJNRD_218852
Published Paper Id: IJNRD2404736
Research Area: Engineering
Author Type: Indian Author
Country: Modinagar, Uttar Pradesh, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2404736.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2404736
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