follow us on twitter . like us on facebook . follow us on instagram . subscribe to our youtube channel . announcements on telegram channel . ask urgent question ONLY . Subscribe to our reddit . Altcoins Talks Shop Shop


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here Ads bidding Bidding Open

Author Topic: PoS - Proof-of-Stake Meaning - Definition  (Read 1611 times)

Offline Mounty

  • Baby Steps
  • *
  • Activity: 16
  • points:
    132
  • Karma: 0
  • Trade Count: (0)
  • Referrals: 0
  • Last Active: July 01, 2018, 04:52:51 PM
    • View Profile

  • Total Badges: 9
    Badges: (View All)
    Topic Starter 10 Posts First Post
PoS - Proof-of-Stake Meaning - Definition
« on: July 01, 2018, 03:00:30 PM »
Proof of stake, is an alternative way to validate transactions, it was developed as a solution to the power hungry POW / proof of work.


It is considered a greener alternative to PoW. It requires holding of certain amount of coin/token to verify transactions on the Blockchain.

The process of mining a proof of stake coin is often referred to as Staking.

Most cryptocurrency including the first and largest one Bitcoin, use proof-of-work mining to secure the blockchain. This has proven to be very secure and effective, but has some drawbacks like expensive energy usage and the need for specialized mining computers. Proof of stake is an alternative method.

Where PoW requires to perform a certain amount of computational work, a proof of stake system requires only to show ownership of a certain amount of money, or stake of the coin/token.
« Last Edit: July 01, 2018, 03:02:24 PM by Mounty »

Altcoins Talks - Cryptocurrency Forum

PoS - Proof-of-Stake Meaning - Definition
« on: July 01, 2018, 03:00:30 PM »

For Monthly biddings Check Here


 

ETH & ERC20 Tokens Donations: 0x2143F7146F0AadC0F9d85ea98F23273Da0e002Ab
BNB & BEP20 Tokens Donations: 0xcbDAB774B5659cB905d4db5487F9e2057b96147F
BTC Donations: bc1qjf99wr3dz9jn9fr43q28x0r50zeyxewcq8swng
BTC Tips for Moderators: 1Pz1S3d4Aiq7QE4m3MmuoUPEvKaAYbZRoG
Powered by SMFPacks Social Login Mod