At Netcoins, you are eligible to stake your Ethereum (ETH) balances only.
We intend to add additional cryptocurrencies, such as Solana (SOL), to our staking service in the near future.
It’s interesting to note that not all cryptocurrencies are eligible to be staked because they do not all use the proof-of-stake consensus mechanism.
Instead, some cryptocurrencies, like Bitcoin (BTC), use a proof-of-work consensus mechanism, which relies on miners solving complex mathematical problems to validate transactions and create new blocks.
Proof-of-stake is seen as a more energy-efficient alternative to proof-of-work as it does not require intensive computational work to validate transactions. Instead, it relies on validators who hold a stake in the network to validate transactions and secure the network.
As proof-of-stake continues to gain popularity, more cryptocurrencies are likely to adopt this consensus mechanism and offer staking as a way for their holders to earn rewards while supporting the network. However, the decision to adopt proof-of-stake ultimately depends on each individual cryptocurrency project's goals and technical requirement.