Staking Calculator Development | Staking Reward Calculator

Businesses across the world revolve around making profits. The same goes for cryptocurrencies, where the profit is attained in various forms. The basic one is to generate profit by selling the investment and the other option is staking. Staking might feel confusing in the first instance, but it is based on a simple concept. Generally speaking, staking is the process of holding your digital assets and not selling them. This allows the users to obtain rewards in return. This is also known as a passive form of income based on proof of stake.

For more clear understanding, just like we deposit a certain amount of cash in the savings account. It is subjected to a certain interest, and the return is obtained, which is obviously more than the deposited one. In the same way, staking works, where the crypto assets are locked for a specific time to verify the transactions. Decentralized staking has made a groundbreaking performance in the crypto world. No one can deny that the DeFi staking platform development offers astounding services featuring ultra-security and reduced risks. To calculate such complicated figures, a staking reward calculator is used. This gives the approximate value that a user may receive after staking.

Staking- Understanding The Concept

As stated above, staking is a way of holding assets and, in return, receiving rewards. This procedure is performed so that only valid transactions get added to the blockchain. Things may get overturned also if the validation is not up to the mark. The miners have to bear the brunt of the penalty. So, this thing acts as a double edge sword. Moreover, not all cryptocurrencies support staking. If the stake is higher, there are higher chances of earning rewards and including blocks in the blockchain.

Any single individual does not perform the staking; a pool of people takes part in the heavy validation of the transactions in the blockchain network. There are specific rules for the validators; for instance, Ethereum requires the validator to hold a minimum of 32 Ether. The key thing associated with staking is that a slightly lesser amount is kept at stake.

Are you looking for a staking reward calculator company to calculate your APR or APY (annual percentage yield) earnings? Suffescom Solutions Inc. is a leading DeFi Development Company that develops a platform specifically dedicated to tokenization and staking. We have a devoted team of crypto experts to guarantee you implement staking calculator solutions to a wider extent.

In this article, we have mentioned everything related to staking calculator development. Go through the entire article and get the in-depth detail.

Terms Associated With The Staking Calculator Development

APY And APR are the terms intertwined with the staking calculator development, but their calculation is entirely different from each other. See for yourself!

Annual Percentage Yield (APY)

This is the aggregate return on the investment, taking into consideration the results of compounding. It includes the interest earned on the principal amount and the interest on the piled-up interest. Due to this reason, the value of APY is more than the APR.

Annual Percentage Rate (APR)

This denotes the simple interest rate on the investment, with no confounding feature. It usually depicts the base interest rate that is provided by the validator. Due to the involvement of no compounding effect here, the value of the APR is lesser than the APY.

What Is A Staking Reward Calculator?

A staking reward calculator is a significant tool that allows inventors to calculate their earnings through staking cryptocurrencies. The estimation is done based on the amount staked for the specified period. It also considers the ongoing market price of the cryptocurrency with the APY of the reward. Considering all these specifications, the predictions corresponding to the user's earnings can be made.

The staking rewards calculator developed by our proficient team of developers provides the following features. Let’s check them out below;

• The users are allowed to calculate the staking rewards on the network. They can even take into consideration various networks to compute the aggregate rewards.
• The staking rewards calculator supports the cryptocurrencies like DOT, ETH, and SOL.
• Specifically talking about the ether, the staking rewards calculator shows the latest statistical rewards rate without incorporating the transaction rewards.

Staking Reward Calculator Formula

The Staking Reward Calculator Formula consists of the initial investment, time period, and annual percentage yield.

• Initial Investment: Denoted by “P,” it is the crypto amount that the user stakes.
• Time period: The duration of time in “years” which the user intends to stake.
• Annual Percentage Yield: Denoted by “r,” it is the “%” of the initial investment which the user earns as the staking rewards in the whole year.
• Total Earnings: Represented by “A,” this is the total earnings.

Using these denotations, the total income from staking is generated.

The formula is as follows;

A = P * (1 + r/365)^(365t)

Steps To Use The Staking Rewards Calculator

The steps included in the staking rewards calculator that we developed are illustrated as under;

• Feed the important information like the type of blockchain network, whether it is Ethereum, Solana, polka dot, etc. The quantity of the tokens, the time period, prices, and the staking rewards rate.
• After that, draw a comparison between the blockchain networks for the earning potential. Following that, click on save and add other networks.
• To compare more than 1 network or the earning potential of the same network, enter the information and click on “Save and Add Another Network.” Try repeating the steps up to four networks.
• Click on the “Add Totals” that gives a glimpse of the estimated earning potential for every network. Share the gross potential, and adjacent to the logo, see your total earned rewards.

Advantages Of Crypto Staking

The implementation of the crypto staking provides substantial perks to the users; see below;

Generating Passive Income

If you don’t want to sell crypto tokens, go for staking, as it will help you generate income without much involvement.

Security

With staking, you can access the extra security element and high efficiency of the blockchain project.

Convenient

It’s quite convenient to start staking via a crypto wallet or decentralized exchange.

No Hacking

Staking helps in building up the capability of the transactions and provides resistance against fraudulent activities.

The above list is enough to motivate you to perform crypto staking. The only disadvantage it possesses is that it requires “lockup time.” This means the staked token is not eligible for trading, irrespective of the price shifting. Apart from this, there is no such issue related to crypto staking.

Staking Calculator Development process

Tokenomics

To begin with the crypto project, tokenomics is essential. This is the best option to consider when deciding on an investment. It is because attractive incentives in return for holding tokens will last very long. This increases the crypto project demand, eventually leading to elevated prices.

UI/UX Design

The staking rewards calculator should look attractive, and the interface should be extraordinary. The user should not feel substandard while using the calculator.

Development

The developers need to pay special attention to the staking calculator development, and the factors that play the biggest roles are the front end, back end, and the proper execution of the smart contracts. The crypto staking rewards calculator should be highly intuitive and easy to navigate.

Deployment and Launch

Crypto-dedicated projects need the advanced protocols for the latest smart contracts. After thorough quality assurance, the developed product is deployed and launched for the users. If some issues occur, we also provide post-maintenance facilities.

Why Hire Us?

Suffescom Solutions Inc. is a global brand with 5.5 years of experience in developing crypto projects with blockchain technology. We provide outstanding Staking calculator development services at affordable prices. We even helped businesses to build their own launchpads and DeFi platforms to avail the benefits of the top-notch staking calculator solutions.

Smart Contracts Development

We offer supreme smart contract development services, including development, coding, testing, and deployment through top programming languages that organize the workflow.

Blockchain Consulting

Our blockchain consultants have expertise in providing all the relevant information regarding this futuristic technology. We have hired professionals to resolve your problems so that you ace the blockchain realm.

Private Blockchain

We provide our clients with custom private blockchain development solutions with top-class security and seamless interoperability.

Transparent Protocols

We use transparent protocols that allow the entire control of data to the users, and that too without any central data storage.

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