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Staking and Governance
Staking is an integral part of the consensus mechanism. Chiliz Chain depends on a robust structure of validators that help in reducing gas fees and shorten the block time. Usually, blockchains use consensus mechanisms based on Proof of Stake (PoS). The participants for staking get opportunities based on their stake in the pool to validate transactions and create more blocks and become validators.
As a user, you can decide how long you want to stake your CHZ. That way, it becomes easier to participate in and support activities on the blockchain. You earn more rewards in return for staking your share. That said, you can withdraw your stake whenever you want. However, there's a timeframe of 7 epochs (approximately 7 days) to do so.
In a PoSA consensus-governed blockchain, the validators of the network are able to vote on proposed changes to the network (proposals). Only active validators can vote and there has to be a 2/3 consensus for the proposal to pass.
Proposals are open for 7 days, if a consensus is not reached by that time, the proposal does not pass. The more CHZ staked and/or delegated by a specific validator, the more voting power the validator has, making their vote worth more influential.
On the Staking App, you can see the proposal history including any active/open proposals that validators are still voting on or are waiting to be executed.