A staking pool is a method that enables individuals to combine and lock their digital assets in a Proof-of-Stake (PoS) blockchain, enhancing their chances of successfully verifying and validating new blocks.
Staking pools are managed by pool operators or administrators. Participants lock their funds in a designated wallet, pooling resources to increase their staking power. This boosts the likelihood that the consensus mechanism will choose their pool to verify transactions and add them to the blockchain. The staking rewards are then distributed between the participants according to their contributions.
