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.


4Stake Review

14 Jun 2019 1 minute read 0 comments LiteLiger

4Stake Review Today i'm going to talk about shared masternode / staking Pools service called 4Stake which originates from Brazil the platform is available in Englis, Spanish and Portuguese. It allows people to participate staking without having own...

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,...

How To POS BeanCash

20 Jun 2019 1 minute read 1 comment bitcoinflood

When starting out with POS you can end up making a number of mistakes. That is why when first getting into POS (Proof of stake) coins you should start out with a low cost but profitable coin. One such coin I like to use is called BeanCash which curre...

Why should you opt for Staking?

11 Nov 2019 3 minute read 5 comments ChrissCrypto

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...

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...

New Listing Proof of Stake (POS) and Masternode Coins #Week27

8 Jul 2019 1 minute read 0 comments poscoins.co

StackOfStake listed GenesisX (XGS) Masternode Coin! StackOfStake is a full automatic shared masternode service. A powerful backend is used to perform all masternode administration and maintenance operations, all results are displayed in a simple an...

Types of Blockchain Consensus Protocols

3 Dec 2019 3 minute read 0 comments ChrissCrypto

  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...

Passive & Green Income with Bitcoin Green

23 Jan 2019 3 minute read 5 comments ArcticSun

The ongoing electricity cost associated with running a mining rig on Bitcoin is often criticized for its energy guzzling requirements. Mining not just for Bitcoin but all other mineable altcoins, can be an ongoing challenge especially in a volatile o...

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...