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.

Layer 2 Solutions for Ethereum – How Do They Work?

10 Feb 2021 3 minute read 1 comment GetBlock

For many years the smart contract platforms have been drawing a lot of attention from developers, businesses and governments. They have a lot of potential applications in various fields: registries, finance, healthcare, supply chains, gaming. Howeve...

Leo Finance witness is on a bull run taking 28th active place after 1 day

7 Feb 2021 1 minute read 1 comment Behiver

Just yesterday I was writing that the Leo Finance witness was surpassing @riverhead on the 29th active place and it seems that the bull runs continues for it. After only one day it moved to the 28th active ranking place and jumped before @jesta and c...

7 Of The Best POS [Proof of Stake] Coins in 2021

7 Feb 2021 1 minute read 0 comments bitcoinflood

Here are the top 7 POS [ Proof Of Stake ] Coins for 2021. Cryptocurrency is an amazing way to earn passive income and POS provides just that while giving back security to the blockchain for doing so. #1 Tezos This ICO coin raised o...

Leo Finance witness teleports on 29th active place and opens up a new world of possibilities

6 Feb 2021 1 minute read 1 comment Behiver

Leo Finance witness on Hive blockchain (@leofinance) is on fire and with the speed of light teleported on 29th active ranking place. In less than a week it succeeded to continue the rally, to gain more trust from the Hive users and push it day by day...

Hive Power Up Day | I power up and breathe some life in the Hive blockchain

31 Jan 2021 2 minute read 1 comment Behiver

After the Power Up from the border of years we are moving now with the second Hive Power Up Day of 2021 year and this one shows our commitment to this great blockchain and the fact that we foresee it getting value on the long term. With it the Voting...

Eth2 Devs Talk About 2021 Progress and Plans

21 Jan 2021 1 minute read 4 comments Abhimanyu Krishnan

Ethereum developer Danny Ryan, in an update published on Jan. 20., provided a high-level update of the progress and plans for Ethereum 2.0 in 2021. Ryan emphasizes that the post offers his vision and outlook for 2021 and that the whole development p...

Did you know that you can stake your NFTs? I explain how here. Easy.

18 Jan 2021 1 minute read 1 comment fdeflash

I think there are currently few services that allow you to stake your cards (NFT). The fact is that I have just entered the world of NFTs, and I have bought several very cheap, to test, see if they go up in price, trying to understand how supply and...

BonFi Launching on NULS POCM, 15th January

14 Jan 2021 2 minute read 0 comments NULS

Just before the closing of 2020, we announced a new collaboration with BonFi. In the past weeks, they have developed their new NULS-BNF Credit Mining product that is beneficial for both communities. This new DeFi product will be released on Friday, t...

🚀 Announced to be The Fuse Network Validator - Stake to Earn Up to 100% APY

11 Jan 2021 2 minute read 1 comment

  We are more than happy to announce that has joined Fuse Network as a node validator to verify transactions and secure the network. This would also allow $FUSE token holders to delegate staking to the node and earn staking rewards...

Earn Interest On Your Crypto! Staking Digital Assets (Exodus,Binance)

2 Jan 2021 1 minute read 2 comments TheCyberHustler

  Earn Interest On Your Crypto! Staking Digital Assets (Exodus,Binance) Below is a video which shows where you can earn interest for some digital assets just by holding them in this wallet or exchange !   * This is not financial advice anything you p...