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.


Proof-of-Work Vs Proof-of-Stake - How Do they Work?

7 May 2020 4 minute read 1 comment Chriss

    Today, we are going to speak about the two of the most popular consensus mechanisms in the cryptocurrency industry, called Proof-of-Work and Proof-of-Stake. We are going to explain both of them in detail, and state the differences between the tw...

Tezos (XTZ) staking rewards tracking

6 May 2020 2 minute read 1 comment Baking Bad

In our previous article (1, 2) we have reviewed the specifics of Tezos Staking. The next important step is to track payments, because rewards for staking are not automatically distributed in the protocol. There is a telegram bot that allows you not t...

AMA - SCO Lab Interviews BBAI Recap

2 May 2020 3 minute read 0 comments NULS

Guest: Dr. Cao, Director of Intelligent Business Engineering and Blockchain Research Center, Guangdong Science and Technology DepartmentHost: Reaper, NULS co-founder, community councilor & SCOLab founder Reaper:Hello everyone, I am Reaper, co-founder...

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...

Ultimate Proof-of-Work vs. Proof-of-Stake Discussion with Crypto Ramble

30 Apr 2020 1 minute read 0 comments TheDesertLynx

I had the great pleasure last year of having a comprehensive discussion on the main cryptocurrency anti-sybil mechanisms, proof-of-work and proof-of-stake, and their various drawbacks and advantage. We cover the difference between the two and the di...

Is the outlook for Ethereum good or bad?

28 Apr 2020 3 minute read 0 comments Jumble

Ethereum and Blockchain 2.0 Ethereum was the start of Blockchain 2.0 applications. Ethereum lets you do more on the blockchain than send a payment (Blockchain 1.0). Bitcoin was the start of Blockchain 1.0. Ethereum added smart contracts to the blockc...

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...

A look at 10 years staking return of Ethereum 2.0

25 Apr 2020 1 minute read 16 comments paragism

Cover Image Source Ethereum project became live in the year of 2015 through a successful fund raising. The idea of developing decentralized applications (DAPPs) caught the public attention very fast. Ethereum was promised to be the world computer. Si...

Passive Crypto income. Earn 1% a day. Start for free. NOT a ponzi or wallet scam

21 Apr 2020 1 minute read 0 comments unicorngirl

Yes you really can earn passive crypto income through staking.  Y,es you can start collecting free coins to get you started. This is not one of those fake "wallets" that promise decentralization and unsustainable returns. You don't need to refer anyo...

Staked Wallet, scam or legit?

20 Apr 2020 3 minute read 6 comments Pappura

  Hi everyone, I'm writing this because some days ago I've funded a link of this wallet and immediately think that that was impossible, but hey, that was for sure the max, so why not to try to download the app and see how it works for real. When I r...