Proof of Stake (PoS) - News, Opinion & and Analysis

Proof of Stake (PoS)

229 Articles 9 Followers

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.


What is staking?

24 Jun 2020 2 minute read 1 comment Kluma

What is staking? Staking (from the English stake - “rate”, “part of the profit”) - receiving passive income from cryptocurrencies on the PoS algorithm and its variations. The essence of the process is to keep coins in your wallet to obtain the right...

POS and DPOS: As we sing a lullaby to Proof of Work (POW)....

18 Jun 2020 6 minute read 3 comments Cryptonsula

After hearing about "Bitcoin" from a nerdy friend, a crypto-space newbie in late 2013 stumbles upon the strange-sounding terms "mining" and "proof of work" during his infant days, while searching about "what is bitcoin" on google and wikipedia. Soon,...

Best Proof Of Stake Coins For Easy Passive Income 2020

18 Jun 2020 1 minute read 2 comments Nafay

  Hey Guys today we will be discussing about staking on the Exodus wallet. What is a Proof of Stake Coin? A proof of stake (PoS) coin is a crypto asset in which one stores or stakes coins in a particular wallet as its transaction validation mechanis...

What is the AWC token anyway? Its like Binance coin ongly different!

16 Jun 2020 3 minute read 8 comments LiquidAttic

The AWC token  The token AWC establishes itself as the first token issued by a decentralized cryptocurrency wallet. I must say that this has aroused my interest. Looking at the potential growth, this token is only at the beginning of its journey. At...

Atomic Wallet - When the stakes are high

12 Jun 2020 2 minute read 0 comments Virendar

By now almost everyone has heard of Proof Of Stake (POS) tokens, and just like every other investment it is vital that we understand what we are getting in to, that's why I aim to tell you how easy it is to stake coins with Atomic Wallet in addition...

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...