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.


Magi Coin (XMG) Mining and Staking on Libre La Frite

6 Jun 2020 3 minute read 0 comments cryptoddy

This is a guide on how I managed to do mining on Magi Coin (XMG) on La Frite, a single board computer by Libre Computer. This coin mining is not a get rich solution, rather it is a good experience on how crypto mining works. Coin Magi (XMG) is a CPU...

Top 5 Staking Coins in 2020

3 Jun 2020 1 minute read 0 comments Diviner

With Proof of Stake becoming more and more common, staking has become more popular than ever. Here are my top 5 coins that you can stake and earn passive income with in 2020. 5. Icon (ICX) Icon is a blockchain network dedicated to connecting differe...

Coda Protocol: The Small Blockchain with Big Plans

2 Jun 2020 5 minute read 6 comments Mynima

Introduction This is a project I found just under a year ago while I was looking up zk-SNARKS. The team are currently in the testing phase of the program and looking towards building on the open testing, the incentive of which is currently to be cons...

3rd Generation Crypto Creates a Self-sustaining Funding Funnel

1 Jun 2020 6 minute read 0 comments BlockchainAuthor

Blockchain’s Strongest Treasury Model Ensures Project Longevity Lack of funding can be the death knell for the brightest ideas and aspirations. In and out of the crypto space, projects with insufficient revenue models fall by the wayside. Now, there...

Bitcoin Vs Ethereum PART 1 | Every thing you need to know

1 Jun 2020 3 minute read 0 comments Cryptohem

 In the world the cryptocurrency Bitcoin and Ethereum can be considered as the parent of all the cryptocurrency.For now both ETH and BTC works on proof of stake mechanism. But Ethereum will be change to Proof of stake consensus mechanism after some p...

What is Staking?

27 May 2020 2 minute read 0 comments CryptoJamm

Staking and PoS Staking is the process of using cryptocurrency as a way of supporting the network of which it is native to. It is widely used on networks that adopt the Proof of Stake (PoS) consensus mechanism or one of its variants. And as...

Tron staking using TronWallet

27 May 2020 1 minute read 0 comments yanis

In this tutorial, you'll learn how to stake tron using tronwallet (mobile) to earn staking rewards.   Why staking tron (user side) ? When you stake tron, you earn money without spending one cent (just locking).   What does it give to the Tron Network...

More than 9 mln XTZ is in the staking balance with Deactivated Tezos bakers.

24 May 2020 1 minute read 1 comment Baking Bad

In Tezos there are cases when the validation node becomes "inactive" or "Deactivated" in the blockchain. It happens because the baker has changed the infrastructure with the baking address, or just decided to stop baking service. All people who deleg...

What is staking? How to earn by staking?

24 May 2020 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...

Algorand Beats Them All 🌟

24 May 2020 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...