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

Proof of Stake (PoS)

283 Articles 13 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.


Cryptocurrencies: From Bitcoin to the Algorand Protocol and the Peer-to-Peer Basics 🖥️🔛🖥️

12 Oct 2020 12 minute read 6 comments geocrypto

      Before we deepen our discussion around the Algorand Protocol, we need to understand how Bitcoin came about, which brought this use of cryptography to the field of finance and the monetary system. It is also important to understand what the no...

Powered up 1000 Hive today on Hive Power up day

1 Oct 2020 2 minute read 3 comments Bala

Today is the Hive Power Up day. Every first of the month is called Hive power-up day. I have been waiting for this day for the past few weeks, to be honest. The main reason is that I was holding so much of liquid funds in hand. I somehow accumulated...

An introduction to Tezos

10 Feb 2020 26 minute read 10 comments Allen Walters

Tezos main net has been up and running since the summer of 2018 without any major issues. In this period, Tezos' unique on-chain governance model, has since done what it was designed to do and took Tezos though multiple upgrade cycles, improving and...

Top Things You Should Know About Cardano (ADA)

15 Apr 2020 12 minute read 28 comments MuyAsk

Hey guys :) I’m back with yet another comprehensive list of questions and answers, this time for the popular and highly anticipated decentralized blockchain and smart contract platform – Cardano (ADA).  This piece lays everything out on the line so t...

5 questions about Kira Network you should know

11 Oct 2020 5 minute read 0 comments CryptoN0ob

Kira is the first decentralized network that enables market access to any digital asset in the interchain ecosystem. Presentation ! 01. What is Kira Network ? KIRA is a decentralized network designed to secure and power DeFi applications. This netwo...

Utopia : a decentralized P2P platform

14 Oct 2020 2 minute read 0 comments widecast

Utopia Utopia is decentralized P2P platform developed by an anonymous group known as 1984. The motivation behind the development is complete security and anonymity for all. The platform consists of the Utopia client (program), available for downloa...

Stake & bake: getting more crypto

1 Sep 2020 2 minute read 6 comments Spitkitten

I'm staking Tezos. It's cool. My Tezos are magically making more Tezos. In my Trust Wallet (along with a buncha other wallets and exchanges, likewise), I don't even have to do anything except designate my # of Tezos, hit "stake" and then, sit back an...

The Book That Changed My Investing Life

14 Sep 2020 4 minute read 4 comments johnwege

I'm embarrassed to admit it, but just a handful of years ago I had no interest in investing money for my future.  In my mind, money was only something I needed to purchase the things I wanted.  And man did I like buying things.  Some of those things...

MyCointainer: The Ultimate Staking & Masternode Platform for Maximized Staking Rewards

14 Sep 2020 4 minute read 4 comments Crypto Adventure

Trading and generating income from cryptocurrencies can be tedious and challenging. Crypto mining has been the main way to release new coins into the crypto world since the introduction of bitcoin in 2009. Unfortunately, mining comes with several sig...

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...