The are many different, consensus for cryptocurrency blockchains. Bitcoin, has the proof of work consensus. In a previous article, we saw some coins, with the proof of capacity consensus(Four Proof of Capacity coins). With the proof of stake consensus, the wallet, with the most coins reserved (staked), will get a higher reward. There are many advantages, in proof of stake, but there is a drawback. The “richest” holder, gets the most coins. Let's see four POS coins.
Cardano
Cardano, is a decentralized public blockchain project. Academics and engineers created a team, to create a premier smart economy. This blockchain, can run Dapps, like Ethereum. Cardano's proof of stake has small variations, to increase security, and easy adaptation. The voting process is secured, and scaling, is easy. The coin supports, two sets of scripting languages, one for moving value, and the other to enhance overlay protocol support. There is sidechain support, and many different types of signatures can be used. Cardano, is still in development.
More about Cardano: https://www.cardano.org/en/home/
OmiseGO
Omise, a leading on-line payment gateway service provider, in Southeast Asia, created OmiseGO. The coin's blockchain team, worked on the Ethereum blockchain, before getting involved with OmiseGO. OMG is a fully public, with a currency agnostic decentralized exchange (DEX) network which will be secured by Ethereum, and built to scale by using the Plasma architecture. The team is developing, an open source wallet software development kit. With the kit, it is very easy, to add wallets, to existing applications.
More about OmiseGO: https://omisego.network/
KuCoinShares
KuCoin, is a secure cryptocurrency exchange, with a native cryptocurrency, called KuCoinShares. It is not exactly proof of stake, but the holder, receives a daily dividend, so it's like “minting” coins, as in the proof of stake consensus. The calculator they have on their site, shows very good results.
More about KuCoinShares: https://kucoinshares.com/
ARK
The ARK ecosystem, is an ideal environment for future blockchain developers. With ARK, someone, can customize, a sovereign blockchain, for his needs, with many sets of functions available at his fingertips. ARK, decided to use a modified version of proof of stake, called Delegated proof of stake. The Delegated proof of stake, consensus, allows token holders, to vote for the nodes that will secure the system. The ARK blockchain, is focused on simplicity, security, speed, scalability and sovereignity. The network, is public, very important, for easy participation.
More about ARK: https://ark.io/
Again, we have a list of four similar coins. There are variations, in the staking consensus, but all of them, allow the token holder to get an extra income. Proof of stake is preferred, because it is not as power hungry, as proof of work. We will see more to come.
