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.

Like a sniper @leofinance witness has the Consensus spot insight ranking on 25th place

11 Apr 2021 1 minute read 0 comments Behiver

I think about a week ago I was writing about the performance of the @leofinance witness and with the continued development in the space we are seeing it now climbing a new spot in the top. The Leo Finance community witness is ranking now on 25th...

Return to Castle PancakeSwap 🧐 Things about $CAKE you might not now yet....

9 Apr 2021 5 minute read 3 comments CryptoAdvisor

Intro It has been a while since I made my first endeavours with PancakeSwap at the 31st December of 2020 and it has been quite a ride (Check out my first steps here if you want to read it in total - actually it might be the first ever PancakeSwap tut...

Cosmos platform is proving to be a good alternative to the Ethereum Blockchain

6 Apr 2021 2 minute read 8 comments Greenchic

   The step that turned the Cosmos Blockchain into a internet of Blockchains     Twitter account of Cosmos Cosmos Blockchain as mentioned in my previous article, has become an interconnected Blockchain ecosystem, “an internet of Blockchains”, as pe...

Delegated Proof of Stake simplified

4 Apr 2021 1 minute read 0 comments nervi

Delegated Proof of Stake, DPoS for short, is a very innovative consensus algorithm. You could say that it is a kind of democratic PoS system. It was created as an alternative to the "old" Proof of Work system, which as we know requires a lot of work...

Leo Finance is at 6 stone's throw from being a Hive Consensus Witness

3 Apr 2021 2 minute read 0 comments Behiver

LEO Finance community expanded in so many good directions and through that it has put also HIVE blockchain on the map showing the potential that lies within. And with the growth of that, it was just normal for more supporters joining this Hive commun...

Proof of Work (poW) vs. Proof of Stake (poS)

3 Apr 2021 1 minute read 0 comments cryptonerd2021

What is Proof of Work? Proof of Work is common in most blockchains, it's where people's computers solve a complex math problem. First computer to solve it gets to add the block to the blockchain. Whoever adds the block to the blockchain gets to keep...

Deposit your Bitcoin, Litecoin and Dogecoin to receive a small interest on your coins. (4% anually, deposited daily)

2 Apr 2021 2 minute read 2 comments Teresa1995

A staking pool allows multiple stakeholders (or bagholders) to combine their computational resources as a way to increase their chances of being rewarded. In other words, they unite their staking power in the process of verifying and validating new b...

All in on powering up HIVE and Second Layer Tokens like LEO and CTP

1 Apr 2021 2 minute read 0 comments Behiver

While I have skipped powering up the previous month with all the DeFi craziness and CUB addiction, I have prepared for today, 1st of April (no it is not a joke :)) to stake all of my gathered HIVE tokens, but also the second layer tokens like LEO and...

Crypto Staking Risk

21 Mar 2021 1 minute read 1 comment BlogBlogBlahBlah

I just read one of the "Popular" posts on Publish0x that gives a good intro. to the concept of staking crypto tokens (  After reading...

NULS mainnet Upgrade to v2.9.0

19 Mar 2021 1 minute read 0 comments NULS

We released a new NULS mainnet wallet upgrade v2.9.0 at 15:30 (UTC+8) on March 18, 2021. The new protocol will take effect at a height of 20,000 blocks after the node upgrade reaches 80%. Please update it ASAP. This upgrade is mandatory NULS v2.9.0 i...