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.


Top 5 most reliable cryptocurrencies PoS to place on staking.

20 May 2020 3 minute read 3 comments Papiloskibtc

Everyone will have their preferences when selecting a cryptocurrency or wallet, but it is a fact that PoS have many technical and above all, economic benefits for their holders. These cryptocurrencies offer two options: run a masternode or go to the...

My intro to Masternodes

17 May 2020 4 minute read 1 comment PsklQc

Hi, let me introduce myself and what I pretend to do. I’m not a techy (if you are, please don’t read unless you want to laugh a little…) I’m just a normal guy with no particular skill with computer although with some background in finance. I’ve been...

Relictum Pro(Blockchain 5.0)-- Best Modern Blockchain Startup

16 May 2020 2 minute read 0 comments EbriDan

●  INTRODUCTION  Relictum Pro is the latest version of the #blockchain technology, it is available for use by individuals, organizations, private and public cooperations including the government. Relictum Pro is designed for the purpose of improving...

Waves wallet exchange stake

16 May 2020 1 minute read 1 comment Argo19

  Earn 7.51% Annual Revenues 751.42734 USDis your rough annual income with staking, if you invest 10,000 USD.   Staking is the new way of depositing funds based on the blockchain economy   BANK DEPOSIT 0.1-1% interest in USD You give your money to...

How MyCointainer Can Help You in this Pandemic

16 May 2020 4 minute read 2 comments Chriss

As the world are currently going through unprecedented times, it's important to maintain our financial freedom by using alternative instruments. After the coronavirus pandemic has taken its tool on global economy, the central banks from all over...

ConsenSys: 66% of Ethereum users intend to use staking

8 May 2020 1 minute read 0 comments JamesBond007

According to a survey by Ethereum-Studio ConsenSys, two-thirds of participants in the ecosystem of the second cryptocurrency plan to resort to staking after switching to ETH 2.0 with the Proof of Stake consensus algorithm. 14.6% of respondents are un...

AMA - Huobi Nigeria Recap

8 May 2020 6 minute read 1 comment NULS

The AMA was an interaction between Nuls led by Nuls West Regional Director Mario Blacutt popularly known as Berzeck, and the Huobi nigeria community, moderated by Cyril Oghenegueke. The AMA took place on the 6th of May 2020 at exactly 8PM GMT + 1. Th...

NULS Bimonthly Report - Second Half of April

7 May 2020 3 minute read 0 comments NULS

Technological Progress NDEX was tested within the NULS NTC,some testing and feedback were collected and improvements made. Nabox interface was optimized and modified, improving the response speed. NDEX explorer was in the testing phase. The first ro...

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...