With this video I will be touching on how the (PoS) proof of stake works with cloakcoin. The original concept of (PoS) proof of stake was a person can validate block transactions according to how many coins they hold. For example, a miner who owns 5% of the coin can theoretically mine 5% of the blocks. So the more coin you have, the more mining power or weight you have. Now with Cloakcoin this weight changes as people get on and off the network.
Just remember you can lose money and coins in every move you make. Do not rush in, learn from your mistakes. Always use a small test coin when trying a new wallet. Please be careful of pumpers that are online. Any crypto can go to 0 remember it is just a speculation that wants to be a new digital fiat money. And yes I have bought in at the high thinking it would go a little bit higher. I have also lost coins transferring them to different wallets on exchanges. As you can see I'm no expert, just learning as I go. More research is needed. I'm giving you my full disclosure: I'M not a Finance adviser. I'm not getting payed from cloakcoin. I do have a cloakcoin wallet. If you would like to spread some coinage my way I will always cherish your generosity.
Thank-you for all your comments and viewing the video. I have other videos I would like you to view.
"Beachfront Celebration" Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0