Proof of Stake (PoS) - News, Opinion & and Analysis

Proof of Stake (PoS)

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Proof of stake (PoS) is a type of consensus algorithm used by a public blockchain network to achieve distributed consensys. It is an alternative to the widely known Proof of Work (PoW) consensus algorithm used by Bitcoin and other cryptocurrencies. 

PoS was initially introduced in 2011 on the Bitcointalk forum to solve problems faced by the popular PoW algorithm. In 2012, a cryptocurrency named Peercoin was the first to implement the new consensus algorithm. Since then, a number of leading cryptocurrencies have adopted PoS including NEO, EOS, Cosmos, Waves, Tron, and others. Ethereum is also migrating to a PoS consensus algorithm with its upcoming Casper implementation.

The main advantages of PoS over PoW are energy efficiency, security, reduced centralization risks, new economic penalties to prevent various attacks, and the issuance of new coins can be reduced because participants are incentivised to stake coins to participate in the network rather than mine them. 

In PoS-based public blockchains, new blocks are forged or minted rather than mined like in PoW. The new blocks are minted from a set of validators who lock up their cryptocurrency into a deposit. Validators then receive a reward for staking their tokens and minting new blocks and validators with a larger stake receive more rewards. Therefore, individuals are incentivized to partake in the system. 

While PoS presents various advantages over PoW, it is not without downfalls. Some experts argue that PoS is not ideal for a distributed consensus algorithm, claiming there is a "nothing-at-stake" problem. However, there are different solutions that various projects are working on and implementing to combat issues surrounding PoS.

In this tag you can discover proof of stake (PoS) news, cryptos, opinions and analysis created by knowledgeable individuals on the matter.


15.6% Returns of Bibox (BIX) Staking — Actual Example and FAQ

1 Mar 2019 2 minute read 5 comments liquidsteel

Disclaimer: This is NOT financial advice and should not be taken as such. Not guaranteed to be correct or continue to be correct. Do your own research. Background BIX is a token issued by Bibox exchange. They had recently revamped their staking model...

Blocknet coin: A proof of stake coin rewarding users and node service provider for securing the network and running blocknet DEX exchange

11 Oct 2019 5 minute read 0 comments quintomudigo

      Blocknet coin is a native cryptocurrency of the block DEX platform  created on the blocknet blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to b...

Binance asking 0% fee over XTZ staking rewards. An issue?

9 Dec 2019 2 minute read 1 comment Allen Walters

Tezos is a smart contract platform. The Tezos' blockchain uses a PoS consensus mechanism called LPoS. Holders of XTZ can bake or delegate their coins and earn PoS rewards. People running a node, are called bakers. People who don't want to run a node,...

Why should you opt for Staking?

11 Nov 2019 3 minute read 6 comments Chriss

Good morning/evening, everyone! Today we live in a world where the Society is increasingly governed by cryptocurrencies, currently nearly 3000 different Cryptos are in use and increasingly used in our daily transactions Cryptocurrencies eliminate th...

Edgeless coin: A utility coin for gambling that rewards users for using their coins to fill the edgeless bankroll

8 Oct 2019 5 minute read 0 comments quintomudigo

  Edgeless coin is a native cryptocurrency of the Edgeless casino  created on the Ethereum blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a dec...

wanchain coin: A proof of stake coin for allowing transfer of assets from other blockchain to wanchain blockchain

15 Oct 2019 5 minute read 0 comments quintomudigo

  Wanchain coin is a native cryptocurrency of the wanchain blockchain platform that results from the ethereum folk code created on the wanchain blockchain network platform whose transaction takes place from one peer to another without involvement b...

Safeinsure (SINS) Prediction

24 Jun 2019 1 minute read 0 comments benzmuircroft

My prediction: Safeinsure will begin on a steady uptrend after slight flat trend. Safeinsure is generally a nice stable currency mostly because of it's listing on multiple top exchanges. The upcoming rise in BTC price past 10K should bring an uptren...

Types of Blockchain Consensus Protocols

3 Dec 2019 3 minute read 0 comments Chriss

  Consensus algorithms are the foundation of cryptocurrencies and blockchain in general. They allow transactions to be secured and verified without the use of a central authority. Simply put, a consensus algorithm/protocol is a procedure where all th...

Nuls coin: A proof of credit coin that allows developers to create Dapps on its platform

25 Sep 2019 5 minute read 0 comments quintomudigo

              Nuls coin is a native cryptocurrency of the Nuls platform  created on Nuls blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decen...

The Current State Of Staking Ecosystem

21 Nov 2019 4 minute read 0 comments Griffex

Introduction Staking, about cryptocurrency and blockchain technology, refers to; depositing cryptocurrency into a coinwallet of one’s choice for them to receive a reward after a certain amount of time predetermined by the coin’s network. Primarily, i...