Cryptocurrency staking is a central concept for cryptocurrencies. In essence, it is the process of parking funds in a cryptocurrency wallet to support a blockchain network's functionalities and operations. It usually consists of cryptocurrency locking so that the user can receive rewards. In most cases, the entire process depends on the users participating in the blockchain activities through any personal crypto wallet, something on the lines of Trust Wallet. The concept of cryptocurrency staking draws parallel to the Proof of Stake Mechanism (PoS).