What Is Proof Of Stake?

Post Reply
Ledger Nano S - The secure hardware wallet
User avatar

Topic author
sojolhasif
Fresh Unicorn
Fresh Unicorn
Posts: 21
Joined: 06 Apr 2018, 06:00
Cash on hand: 188.00
Bank: 0.00
Has thanked: 9 times
Been thanked: 1 time
Bangladesh

#36417

06 Apr 2018, 11:25

I know about POW (Proof of Work) very well,
that's how we can earn by mining but
i'm a bit qrious about POS(Proof Of Stake)
would anyone please tell me what isproof of stake is??


User avatar

Leeke
Merit2
Merit2
Posts: 309
Joined: 02 Feb 2018, 01:21
Cash on hand: 11,167.00
Bank: 15,052.36
Has thanked: 122 times
Been thanked: 141 times
Contact:
New Zealand

#36423

06 Apr 2018, 11:37

POS means Proof of Stake.
Instead of mining and validating the blockchain via Proof of Work with expensive mining equipment, you can validate via POS or staking.
You do this via leaving your wallet open and connected to the blockchain. If you have enough coins in your wallet you can earn POS rewards on your coins when they mature similar to how you earn interest from a bank. This is called the maturity time.
Nowadays older coin POS is better done in a staking pool. Solo staking can require thousands of coins in order to receive a maturity reward.

Also edited your post to say Stake - and moved your query to the POS/ Staking subforum.
These users thanked the author Leeke for the post:
sojolhasif (06 Apr 2018, 11:40)
Rating: 3.57%
If in doubt please check the rules - app.php/rules

Was This Topic Useful?

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Staking / POS”

  • Information
  • Who is online

    Users browsing this forum: No registered users and 1 guest