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.

My intro to Masternodes

17 May 2020 4 minute read 1 comment PsklQc

Hi, let me introduce myself and what I pretend to do. I’m not a techy (if you are, please don’t read unless you want to laugh a little…) I’m just a normal guy with no particular skill with computer although with some background in finance. I’ve been...

Is Cardano (ADA) a Good Investment? In-depth Analysis and Near to Longer-Term Expectations

9 Dec 2019 6 minute read 13 comments CryptoBoomer

A lot of cryptocurrency projects have emerged since Ethereum showed the world that a blockchain network could be used for much more than payments. If Bitcoin was the king of cryptocurrencies, Ethereum and the countless altcoins that followed were the...

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...

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...

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

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...

January 2020

15 Jan 2020 4 minute read 5 comments SpectreCoin

Welcome to the January 2020 Spectrecoin newsletter. As you all know, 2019 was a really challenging year in many ways for the crypto industry as a whole and in particular smaller projects. Spectrecoin however achieved some great things and made some r...

Staking Loom coin: Learn how to stake loom coin

11 Dec 2019 4 minute read 0 comments quintomudigo

Loom is a native coin of the loom network created and issued on the ethereum network. As a native coin of the loom network,loom coin can be used by developers of the loom network to pay for the transaction of their Dapps on the loom network. One user...

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...