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.

How to delegate $IRIS(Iris) on Trusted Node using your Keplr Wallet

19 hours ago 2 minute read 0 comments 416Bitcoin

Iris (IRIS) is a cryptocurrency that powers an ecosystem of blockchains designed to scale and interoperate with each other. The goal is to create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentral...

Cosmos in focus, the internet of blockchains

11 Oct 2021 2 minute read 2 comments Austras

With time there are an ever growing greater number of blockchains being created and they host various ecosystems of apps on them. With the bigger number growing with time, there is going to be a need for these different to communicate and work togeth...

The 6 best blockchain protocols

6 Sep 2021 3 minute read 1 comment Austras

Disclaimer, this list is ordered in my own personal opinion based on how secure, fast and scalable each protocol is. All of them have their own strengths & weaknesses with there being no clear "best" protocol. 6. Nonconsensus protocol Cryptocurrencie...

112. MINA Protocol (update: CRACKED to 94!)

4 Oct 2021 3 minute read 0 comments HunterH

You’ve likely heard the buzz about Mina from your favorite podcast hosts. You have to credit the Mina Protocol organization’s marketing crew for targeting noob rubes like me. Usually, I heavily doubt anything I hear in ads, especially if the product...

Introducing Trusted Node — Staking Rewards Made Easy. Base Capital Untouched.

2 Oct 2021 3 minute read 0 comments 416Bitcoin

Trusted Node is changing the game for liquid staking and yield generation. Before we dive into how our platform accomplishes this, let’s go over some terminology. Nodes are distributed across a network to carry out a variety of tasks, like verifying...

What is the 51% attack, how does it work, and how to make it harmless?

2 Oct 2021 2 minute read 15 comments MikeZillo

We hear a lot about the 51% attack, but what is it really about? The 51% attack is a hacking procedure that is perpetrated against the blockchain in order to take over the ability to validate or cancel transactions at will. Basically it consists in t...

Fourth week of September 2021 Staking rewards on StakeCube

29 Sep 2021 1 minute read 1 comment ionutzu97

Hello and welcome back my friends! Here is another update on what happened from 22-29 September : So, I can say I had a good week.  I just looked on my old posts, and I saw that last year in September, for a whole month I earned 0.13 $. So ... from...

Why I Sold All My DOT

26 Sep 2021 1 minute read 8 comments john harding

I have been holding and staking Polkadot for a while. When I first started staking the minimum stake amount was 20 DOT which was fine with me and didn't skew my portfolio %. Then the minimum went up to 40 DOT. OK I can just about manage this, althoug...

Polygon in focus, a PoS chain better than ETH 2.0?

23 Sep 2021 2 minute read 1 comment Austras

When a digital service sees greater use, it causes a load on their system, that is what both Bitcoin & mainly Ethereum is seeing currently. Gas fees are growing larger as people struggle to find miners to help push their transaction through. This is...

📝 Crypto Poem 04 | Nano, the biggest one 🔬

21 Sep 2021 1 minute read 1 comment mabc95

🧮 Ten to the minus nine going beyond math An open source asset for decentralization Solving the blockchain scalability limitations Supported thanks to directed acyclic graphs   👨‍💼 Started with the name RaiBlocks by Collin LeMahieu Given through capt...