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.

V4.1 Release Update

14 Nov 2019 3 minute read 0 comments Alias

Latest wallet download: We have just released Spectrecoin v4.1, now available to download from our website. This release introduces so called “Mnemonic seed” wallet backup which greatly improves the secur...

Tezos has just become available for investors on a Swiss stock exchange through an ETP developped by Amon.

14 Nov 2019 1 minute read 1 comment Allen Walters

The Swiss based fintech firm Amon, has developed an Exchange Traded Product (ETP), fully backed by Tezos (XTZ). The ETP is called AXTZ and every AXTZ is backed by 1 XTZ, which is held, secured and managed by the Coinbase Custody platform. Swiss trade...

Coinex token:A token for creating and issuing other tokens as well as a token for creating pairs of the issued token in terms of coinex on its DEX

13 Nov 2019 6 minute read 0 comments quintomudigo

                        Coinex coin is a native cryptocurrency of the coinex chain blockchain platform  created and issued on  the ethereum blockchain network platform but it is scheduled to be transferred to its mainnet in late 2019 whose transacti...

SHIFT COIN:A delegated proof of stake coin rewarding users for delegating their hard disk space to store and retrieve data

12 Nov 2019 4 minute read 0 comments quintomudigo

    Shift coin is a native cryptocurrency of the shift blockchain platform  created on the shift blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be...

What are masternodes?

12 Nov 2019 2 minute read 3 comments Chriss

What is a masternode? Masternode is a full node (and full node is simply as a computer in a network that has a complete, current copy of the blockchain ledger) or computer wallet that keeps the full copy of the Blockchain and updates it in real-t...

Why should you opt for Staking?

11 Nov 2019 3 minute read 6 comments Chriss

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...

What are the advantages of joining MyCointainer Community

11 Nov 2019 2 minute read 0 comments Chriss

Good morning, everyone!   For barely 1 month now, MyCointainer has opened its newest community portal, intended for the MyCointainer community On this one you can: Visit MyCointainer website Inform you of the latest updates Participate in surveys Tak...

MyCointainer - Staking platform

8 Nov 2019 2 minute read 2 comments Chriss

  Hello, today let me introduce you to the MyCointainer website   As you may already know, current technologies are evolving exponentially, and many of us are quickly outdated, if we don't keep up with the times, and gradually we are leaving a variet...

Lisk coin: A delegated proof of stake coin for developing Dapps and issuing tokens on its network

8 Nov 2019 5 minute read 2 comments quintomudigo

            Lisk coin is a native cryptocurrency of the Lisk blockchain platform  created on  the Lisk blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered...

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...