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.


Ethereum 2.0 Meets Staking Requirement, Launch Set for Dec. 1

24 Nov 2020 1 minute read 1 comment Abhimanyu Krishnan

Ethereum’s 2.0 deposit contract reached its threshold value for 524,288 ETH on Nov. 23, ensuring that the beacon chain will launch on the originally intended date of Dec 1. Over 610,000 ETH has been deposited in the contract, which went live on Nov....

Explore LANACOIN - Personalized Crypto

23 Nov 2020 1 minute read 0 comments Venkatz

LANA COIN (LANA) - Personalized Crypto A Father Gifted LANA to his Daughter yeah 7.5.2016 is  the birthday of LANA (10th Birthday). He wanted to appreciate his Daughter's excellence in study. LANA's Journey Started there. Yes the time to appreciate...

Ti-Labs Meeting#2 Recap | IRISnet & KuChain

22 Nov 2020 4 minute read 0 comments Cosmos Network Family and Friends

Running on the back of a think-tank that is fueled by the intelligence of the masterminds behind KuChain and IRISnet, Ti-Labs will shoulder the responsibility of enlightening the whole Cosmos ecosystem. On November 6, 2020, the Ti-Labs successfully h...

BUILDING YOUR VIRTUAL ENTERPRISE.

19 Nov 2020 2 minute read 0 comments Wolf2015

When I was a boy, I spent countless hours in front of the computer monitor and television playing strategy games. I played Starcraft, Command and Conquer, Warcraft-Orcs and Humans, Warcraft II-Tides of Darkness, and even Warcraft III both reign of ch...

Vitalik Sheds Light On ETH 2.0 Development Focus, Benefits and Much More in AMA

19 Nov 2020 1 minute read 9 comments Abhimanyu Krishnan

Vitalik Buterin was part of an Ethereum Foundation Reddit AMA conducted on Nov. 17, and provided a lot of insight into ETH 2.0, including how quickly users would see the benefits. The special Phase 0 Genesis Edition of the AMA invited a lot of of qu...

Understanding Ethereum 2.0 and its migration from Ethereum 1.0

16 Nov 2020 1 minute read 1 comment Behiver

When I have heard about Ethereum 2.0 I didn't know if it will be a separate blockchain, if it will be a hardfork on Ethereum or something else. We've all know by now that Ethereum 2.0 will be running as a Proof of Stake (PoS) blockchain, while Ethere...

Ethereum 2.0 ---> could be still uncertain

10 Nov 2020 1 minute read 0 comments Ariman

As you probably know, the Ethereum network it's supposed to undergo a fundamental upgrade soon, moving from Proof-of-Work (POW) to a Proof-of Stake (POS) consensus algorithm, and the overall new system will be called Eth 2.0 . However, we are still...

Top 10 TRX Super Representatives. Who are they and what contribute do they bring?

10 Nov 2020 1 minute read 17 comments MikeZillo

An evaluation of the most capitalized Super Representatives in the TRON ecosystem. As said in my article about TRX Staking, I have chosen to vote CryptoGuyinZa, since he is a strong tech guy, with a long history in TRX voting ecosystem. But, what con...

What’s happening with Ethereum 2.0 deposit contract?

9 Nov 2020 3 minute read 9 comments paragism

Cover Image Source A proof-of-work (PoW) blockchain requires mining which consumes high electric energy. A proof-of-stake (PoS) blockchain’s consensus mechanism is very different. Instead of miners, there are validators. In PoW, the cryptographic puz...

Proof of Transfer (PoX): a Sustainable Consensus

9 Nov 2020 5 minute read 1 comment Saurabh

In a blockchain governed system all the transactions have to be recorded on a distributed ledger, the copy of which is carried by all the participating nodes. Miners or the validating nodes authenticate the transactions and record them on the global...