Hot staking involves participating in a proof-of-stake consensus mechanism using a device that is connected to the internet. This method allows users to earn rewards by helping to validate transactions and secure the network.In hot staking, users maintain their cryptocurrency in a wallet that’s online, which enables them to actively participate in block validation. This can be done on various platforms, often using wallets provided by exchanges or dedicated staking services. The potential for higher rewards comes from the active engagement with the blockchain.However, there are risks associated with hot staking. Being online makes the wallet more vulnerable to hacks and malware. It’s crucial for users to ensure strong security measures, such as using two-factor authentication and keeping software updated.Overall, hot staking is an accessible way for holders to grow their investment passively while contributing to the network’s functionality. It’s popular among users who prioritize ease of use and accessibility over the heightened security seen in cold staking.