Dunamu, the operator of South Korea's cryptocurrency exchange Upbit, has achieved the status of the leading validator in the global Polygon (POL) network through its staking service.
According to Dunamu on June 24, Upbit's staking service has secured the highest amount of staking participation among 102 active validators on the Polygon network, as reported by the staking information aggregator, Validated Info.
Staking allows users to lock their cryptocurrency assets in a blockchain network for a set period in exchange for rewards. This process is similar to earning interest on a bank deposit, but the assets are actually used to validate blockchain transactions and maintain the network.
Validators are responsible for confirming that blockchain transactions are executed correctly and for operating the network. Users delegate their cryptocurrency assets to validators, who then participate in the blockchain verification process and earn rewards based on the assets they manage.
Since 2022, Upbit has been providing its staking service directly through its own validators, without outsourcing the management of delegated digital assets to external companies.
Notably, Upbit has surpassed validators operated by major global exchanges such as Binance and Coinbase, achieving significant participation levels. As of June 23, the total amount of POL staked through Upbit reached 413,173,181 POL.
Industry experts view this achievement as a demonstration of the growth of the domestic digital asset market and the capability of local operators to compete at a global level in blockchain operations.
A representative from Upbit stated, "The result of users choosing a trustworthy staking environment has led to this meaningful achievement of becoming the global leader in Polygon staking. We will continue to provide digital asset services that users can participate in with confidence."
* This article has been translated by AI.
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