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

Proof of Stake (PoS)

194 Articles 7 Followers

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.


Proof of Stake and Ethereum 2.0

23 Mar 2020 1 minute read 0 comments SylarHeisenberg

The Ethereum Blockchain is facing big changes. Vitalik Buterin has now bundled the step-by-step development of Ethereum 2.0 into a roadmap. In a recently published roadmap, Vitalik Buterin has taken a look at the development of Ethereum 2.0. The Ethe...

Level up your Staking and Mastenode Experience with MyCointainer!

17 Apr 2020 3 minute read 3 comments anncrypto

  Forget about mining your favorite cryptocurrencies, why bother investing thousands of dollars over an equipment and spending too much on electricity when there are much cheaper alternatives that do quite the same? The Proof of Stake (PoS) to be exa...

THE AZBI NETWORK

27 Apr 2020 2 minute read 0 comments EbriDan

INTRODUCTION  The society is in the age of ICT, Blockchain is the proof of how the internet has given real world asset value, FinTech which is finance plus technology is being utilized successfully on the blockchain through smart contracts and Dapps...

Why Algorand Is Your Number One Solution For Staking

30 Mar 2020 1 minute read 0 comments Sapphire

The Algorand Blockchain Enters The Limelight The last few months have seen Algorand release one staggering accomplishment after another. Though I suspect many would not consider the SOV building their national digital currency using Algorand technolo...

Proof-of-Stake Coins Rewards Explained - Passive Income?

7 Feb 2020 2 minute read 4 comments cryptowc

What is Proof-of-Stake (PoS)? As Investopedia defines, “Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins he or she holds. This means that the more Bitcoin or altcoin owned by a mine...

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...

What is staking? How to earn by staking?

24 May 2020 2 minute read 0 comments tornadooo

Staking is a method of earning money by keeping crypto coins in your wallet for a certain period of time. It can be thought of as earning interest on bank deposits. However, unlike interest, it does not contain negative interest and you do not pay a...

Understanding Ethereum 2.0: Where are we on the timeline?

24 May 2020 2 minute read 1 comment Hem123

Ethereum 2.0 is one of the project which has been working since 2017.A vision of Ethereum in making a real supercomputer. And is one of the most long awaited scaling solution that will take the blockchain to proof of stake(POS) model. It was schedule...

AMA - Huobi Nigeria Recap

8 May 2020 6 minute read 1 comment NULS

The AMA was an interaction between Nuls led by Nuls West Regional Director Mario Blacutt popularly known as Berzeck, and the Huobi nigeria community, moderated by Cyril Oghenegueke. The AMA took place on the 6th of May 2020 at exactly 8PM GMT + 1. Th...

Ethereum 2.0 Explained and How Elastos Project Has Already Solved Several Issues

1 Apr 2020 3 minute read 0 comments PNin

Ethereum 2.0.  In 2017, cryptokittes was launched on the Ethereum network; it caused massive congestion issues. The Ethereum blockchain was not able to handle all of the transactions that flooded the network, gas prices skyrocketed, and the network...