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.


Be Your Own Bank; Run A Masternode!

17 Apr 2020 4 minute read 1 comment binici

Are you wondering what it takes to become your own bank and how to feel empowered financially? Then this guide is for you! We’ll cover the keys to understanding what masternodes are and how to leverage them in order to keep the blockchain network eff...

Proof of Work vs Proof of Stake vs Proof of Importance - Blockchain

2 Mar 2020 3 minute read 0 comments Gopherine

Cryptocurrencies are based on the decentralized database based upon consensus mechanism or in other words distributed ledger. Any data stored in this network are immutable(cannot be changed or deleted) as it is stored in different locations, without...

Tezos XTZ Soars and What You Need To Know?

15 Feb 2020 3 minute read 2 comments TiddyBit

First we already know the market is reacting to this. People like you and I got in early while others are catching up and others still claiming scam as they are left behind just like Bitcoin and Ethereum did its watchers.... This is great right?   We...

Best Proof Of Stake Coins For Easy Passive Income 2020

18 Jun 2020 1 minute read 2 comments Nafay

  Hey Guys today we will be discussing about staking on the Exodus wallet. What is a Proof of Stake Coin? A proof of stake (PoS) coin is a crypto asset in which one stores or stakes coins in a particular wallet as its transaction validation mechanis...

Coinbase to allow secure Cardano staking

3 Jul 2020 1 minute read 0 comments Vms_Crypto

The rumours are proving to be true, the July 3 2020 article published by Coindesk provides details confirming Cardano's association with Coinbase. An announcement was made by the chief developer house IOHK that a agreement has been signed with Coinb...

Top 5 Staking Coins in 2020

3 Jun 2020 1 minute read 0 comments Diviner

With Proof of Stake becoming more and more common, staking has become more popular than ever. Here are my top 5 coins that you can stake and earn passive income with in 2020. 5. Icon (ICX) Icon is a blockchain network dedicated to connecting differe...

3rd Generation Crypto Creates a Self-sustaining Funding Funnel

1 Jun 2020 6 minute read 0 comments BlockchainAuthor

Blockchain’s Strongest Treasury Model Ensures Project Longevity Lack of funding can be the death knell for the brightest ideas and aspirations. In and out of the crypto space, projects with insufficient revenue models fall by the wayside. Now, there...

INTRODUCING PZM CASH

20 Apr 2020 2 minute read 0 comments EbriDan

INTRODUCTION  PZM Cash is a cryptocurrency that makes use of the algorithm consensus of proof of Stake, as a medium of digital payment in a large ecosystem that keeps increasing and in so doing increases the total wealth available in the community....

Bitcoin Vs Ethereum PART 1 | Every thing you need to know

1 Jun 2020 3 minute read 0 comments Cryptohem

 In the world the cryptocurrency Bitcoin and Ethereum can be considered as the parent of all the cryptocurrency.For now both ETH and BTC works on proof of stake mechanism. But Ethereum will be change to Proof of stake consensus mechanism after some p...

FLASHX COIN (FSXC) - Own Blockchain Proof of Stake "POS"

28 Jun 2020 1 minute read 0 comments FreedomBuilder

🎁 Reward: Receive up 1000 FSXC ≈ $10 & 500 FSXC for each referral. ✅ Start FLASHX COIN Airdrop Bot. 🔑 Tasks:📌 Start Telegram Airdrop Bot.📌 Join their Telegram Group & Channel.📌 Follow Their Twitter, Like & retweet the pinned post and tag 3 friends.📌...