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.


Algorand Beats Them All 🌟

20 hours ago 1 minute read 2 comments valuevision

Algorand advantages   PPoS (Pure Proof of Stake Technology) 1.000 TPS 5 seconds to settle nearly zero transaction fee immediate transaction finality   If you start staking, you don't need to delegate your stake. Get rewards simply by holding a bala...

Particl Basics #2: Staking.. Cold

1 May 2020 2 minute read 0 comments xe-non

Welcome back to our bite-sized series about core features of #private crypto Particl Project! Missed the first article? See Particl Basics #1: The privacy coin to get up to speed. We’re already familiar with Particl’s privacy coin, so let’s see how...

TOP 5 Staking Coins 2020

6 Apr 2020 3 minute read 45 comments Cryptonator`s Airdrop Hunt

Coin staking has become an attractive alternative to trading for many crypto investors. Yes, I`m a huge fan of coin staking and I believe that you love it too. That`s why I decided to write this post about it. So here they are, my personal TOP 5 stak...

Top 5 Crypto Staking providers

23 May 2020 1 minute read 0 comments Blockchain Times

There is a famous quote that states "Don't work for money , make money work for you" Staking just prove it right and works on the mechanim of proof-of-stake. Proof-of-stake is the type of consensus alogrithim by which a blockchain network aims to ac...

Top 5 most reliable cryptocurrencies PoS to place on staking.

20 May 2020 3 minute read 3 comments Papiloskibtc

Everyone will have their preferences when selecting a cryptocurrency or wallet, but it is a fact that PoS have many technical and above all, economic benefits for their holders. These cryptocurrencies offer two options: run a masternode or go to the...

ConsenSys: 66% of Ethereum users intend to use staking

8 May 2020 1 minute read 0 comments JamesBond007

According to a survey by Ethereum-Studio ConsenSys, two-thirds of participants in the ecosystem of the second cryptocurrency plan to resort to staking after switching to ETH 2.0 with the Proof of Stake consensus algorithm. 14.6% of respondents are un...

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...

What is staking? How to earn by staking?

15 hours ago 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...