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.

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...

Intro To Make Passive Income On this Exchange

25 Sep 2020 1 minute read 0 comments SteveR82

         Hello,   Thanks to all the new subs. I have been trying to make more crypto stuff for all of you. Most of what I make is about getting passive income. I did this in the Betfury videos showing how to get the daily play out. I also showed you...

8 Days to Spectrecoin Rebrand

22 Sep 2020 1 minute read 4 comments Alias

Spectrecoin, established in late 2016, rose from a place of underground sensibilities and initially appealed to a relatively small crowd of crypto geeks and privacy supporters. As the project matured and evolved, it attracted a team of highly skilled...

Word of the day : Consensus!

15 Sep 2020 3 minute read 0 comments HaOm

 -Consensus : "A general agreement," "the judgment arrived at by most of those concerned." - - What is a Consensus Mechanism? : "A consensus mechanism is a fault-tolerant mechanism that is used in...

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...

Proof of Work vs Proof of Stake – What’s the Difference

14 Sep 2020 2 minute read 0 comments GetBlock

While Ethereum currently becomes a hot topic due to its future upgrade to the PoS algorithm, it’s probably time to remember why PoS is considered a better algorithm than PoW. To summarize everything in advance: it’s even more secure and less demandin...

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...

ETH, the booty call

10 Sep 2020 3 minute read 4 comments Spitkitten

Ugh. It's been a bit of time since my last post, where I bemoaned my flagging relationship with Ethereum,  got some great responses -- my fave being from @stackingcats, re: keeping ETH as a booty call. It's not only funny -- it's wise. And here's why...

What is Delegated Proof of Stake?

7 Sep 2020 2 minute read 0 comments CryptoSpyder

Proof of stake is a term that is well known for most crypto enthusiasts, but it's far from widely understood. With all the questions around Etherium gas prices and transactions, it's important to understand what delegated proof of stake reall...

How i earned 0.27$ from staking my coins on August

2 Sep 2020 1 minute read 2 comments ionutzu97

Welcome to the monthly review of My Staking Portfolio, it's my third post where I provide an update of the interests I got, the services I used and the transactions I did. This post tracks what happened in August. I hope i can help some of you with t...