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.


Navcoin: A proof of stake coin for creating and issuing other tokens on its platform

18 Oct 2019 4 minute read 0 comments quintomudigo

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

PRiZM Proof of Stake

28 Feb 2020 4 minute read 0 comments PRiZM on PublishOx

In the traditional "Proof of Work" model used by themajority of cryptocurrencies, network security isensured by participants performing "work". They usetheir resources (calculation/processing time) toreconcile transactions with double costs and in or...

Vitalik Buterin on Ethereum 2.00

25 Feb 2020 1 minute read 1 comment simpatico.crypto

I'm Bullish On Buterin Good piece here from Coindesk, live and direct from from the man himself. For the life of me I couldn't embed the source video, so I gave up eventually. The link below opens to the page. Life's too short!   Vitalik Signs I'd l...

Is V Systems (VSYS) A Good Investment? In-depth Analysis and Near to Longer-Term Expectations

30 Dec 2019 7 minute read 3 comments CryptoBoomer

Blockchain projects are a dime a dozen now. This has attracted mockery from both those inside and outside the space. This is fair - so many projects these days seem to come up with a business idea without realizing whether or not the technology is ac...

Adventures in Staking: Part I - Neblio, Navcoin, and Waves

23 Jun 2019 8 minute read 6 comments CryptozNewb

This article is about my experiences and returns on staking various cryptocurrencies over the past year or so. Unfortunately, my timing was not so great, as many of these coins were purchased in the first half of 2018 and all have lost considerable v...

What is Algorand (ALGO)? [A Comprehensive Guide to Understanding ALGO]

8 Nov 2019 7 minute read 1 comment Mr.CryptoWiki

Several projects have emerged since about 2 years ago, working on solutions that take a unique approach designing the fundamental features that make up a blockchain. Whether it’s the myriad consensus algorithms or governance mechanisms, projects have...

Proof of Stake: scam or no scam

17 Sep 2019 4 minute read 19 comments viraladmin

In yesterdays article 10 simple rules of avoiding cryptocurrency scams I had two comments, one from @beachbummer and one from @yanika, that both suggested Proof of Stake coins should be the exception to my rule "Never trust the words passive earnings...

Best coins for staking currently

7 Jun 2019 2 minute read 3 comments fblauer

Introduction There have been a number of articles written about Proof of Stake consensus, and how to earn rewards by staking your coins, voting and delegating to validators. So I will refer to some of those guides below. A good meta site for listing...

Guide: Staking Spectrecoin on a Raspberry Pi

19 Mar 2019 3 minute read 3 comments SpectreCat

Staking Spectrecoin on your Raspberry Pi is really easy to set up. Just follow this guide and you can sit back and watch your Pi do the work for you!      — — — — — — — — Summary Flash the latest Raspi image from the official Spectrecoin Github onto...

Staked Joins as a Supernode to Support Staking on V SYSTEMS

10 Jan 2020 1 minute read 1 comment v.systems

January 9 - With more than 95 million of VSYS coins leased for staking, Staked has officially become one of the supernodes on the V SYSTEMS mainnet today. Backed by two of the biggest blockchain investment firms Coinbase and Pantera, Staked is a well...