What is staking, the system that will make us forget about cryptocurrency mining?

It is expected that in a few months 'Ethereum 2.0', the new version of this cryptocurrency, will definitely arrive, and it will do so with radical changes. Those changes will probably make us start talking much less about 'mining' and much more about 'staking', a reward system that is a kind of 2.0 version of our old current accounts.

Platforms like PancakeSwap, 1inch, EliteCoin and among others, push staking and launchpads. Opting to improve the reward system as mentioned above, as this is also an emerging solution to the natural mining issue.

Large mining farms have been created that consume lots and lots of energy and are based on specialized computers (ASIcs) in the case of bitcoin or graphics cards (GPUs) in the case of Ethereum. The latter has caused for example that the options to get the latest versions of NVIDIA or AMD has been almost impossible.

What is 'staking'. With this system, transactions are no longer validated by solving those complex mathematical puzzles. Instead, users validate transactions according to the number of cryptocurrencies they have in the system, based on their stake.

To conclude, the era of 'Proof-of-Stake' is approaching. Some cryptocurrencies have already moved to another mechanism where rewards are based on something else. Users are no longer rewarded for their work, but for the cryptocurrencies they have 'tied up' to support that ecosystem.