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.


Stocks, Stakes and Staking in Crypto

15 May 2021 2 minute read 0 comments ac05

What is stock? Stock represents ownership in a company. When a person is buying stocks in a company, it means he is buying a particular percentage of ownership in that company. Purchasing the stocks in a company gives investors a claim to a certain a...

BASE REWARD TOKEN: THE FUTURE OF DECENTRALIZED FINANCE

14 May 2021 2 minute read 1 comment adriaparcerisas

Introduction Decentralized Finance (DeFi) project are becoming more and more trending topic. Lots of cryptocurrency projects are interested in create this type of finance in order to offer its advantages to their users. Nevertheless, in DeFi compani...

How to pick a Polygon Validator

9 May 2021 4 minute read 6 comments AlgoRhythm

Hi All! I've seen many question on the Polygon discord about how to pick a validator and what to look for. I'm here to let you know all the numbers you can look at and what to consider when choosing a validator to delegate to. Above we have the main...

Ethereum 2.0 Explained

5 May 2021 5 minute read 7 comments RelyOnCrypto

Ethereum 2.0, also known as ETH2, is a set of integrated upgrades to the Ethereum network aimed at making it more scalable, secure, and sustainable. Many teams in the Ethereum community are working on these upgrades. Each team is concentrating on a p...

The Blockchain Wars

26 Apr 2021 2 minute read 0 comments mongooze_io

The blockchain ushered in an era of new technology since its public debut in 2009. It would later change the way we perceive assets digitally. The Bitcoin, however, was not the first digital coin ever produced. Nonetheless, it was the first to be suc...

April 25th: Eminem NFTs; Crypto a ponzi? Staking rewards doubling.

26 Apr 2021 1 minute read 0 comments Dahveed

Eminem is dropping NFTs during Shady Con, an entire online festival devoted to his NFTs. The rapper promoted this by saying:    Look If you had One shot Or one opportunity To drop $5k on digital hype, Why not choose mine?   ***** Former President of...

Staking In ALGO Will Go Away

19 Apr 2021 1 minute read 0 comments bwgr

But will be replaced with a different program, called the Governance Rewards, pending approval.  ALGO holders are most likely staking their ALGO in ALGO wallet or some other wallet and earning about 6-7% APY in rewards through ALGO's Participation Re...

ETH Staking is Becoming a Powerhouse Among PoS Networks!

14 Apr 2021 2 minute read 0 comments Michael @ CryptoEQ

Staking on Eth 2 As of Tuesday, December 1st, 2020, the first step towards the multi-year Eth 2.0 implementation went live. Long-awaited Phase 0 finally launched and with it, the Beacon Chain and Ethereum’s new Proof of Stake (PoS) consensus layer. T...

World Poker Tour will premier along with it’s NFT market launch on Theta Network

14 Apr 2021 2 minute read 1 comment Greenchic

NFT market launching on Theta Network very soon!!   NFT market place going live on Theta Network on April 18th!! Theta Network is a leading decentralised video delivery blockchain network that enables peer to peer live streaming of video content. Ve...

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...