Pool Of Stake - Pool for Proof of Stake Blockchains

sechkin (9)in #ico • 6 years ago

The Pool of Stake (PSK) is the first of its kind, a decentralized pond for Proof of Stake, the future of blockchain. Qtum, BOScoin, Tezos, and other PoS coin holders can unite in the Pool of Stake and start Mining 2.0, generating daily forging gifts just by stopping their PoS coins.

Pool of Stake (PSK) is a unique self-regulated platform for Proof of Stake blockchains. PSK aims to increase the benefits for small investors who join the platform. With the help of Pool of Stake miners can produce forging a prize every day just by placing their PoS coins on the bet.

Pool of Stake will make sure that all investor of the project will profit the highest benefits, It has created a set of team members that will apply all compulsory means in assuring that the easiest transactions are achieved.

It’s a highly secured decentralized platform where everyone information can be monitored with the blockchain system. The monitoring activity will be taken seriously to ensure that the required security system is available.

Benefits of Pool of Stake

Impressive rewards: A case study was the blockchain platform that uses the Pool of Stake as a reward offer rewards daily. The platform has the means to generate the reward for loyalty by viewing available tokens on the platform node. It accessed the total activities underwent with the miners all through a day so as computing the rewards value. PSK is an indigenous economic value called token used on the platform, Where a member of this platform uses the token system in making or receiving every legit transaction. The platform has the best lower charges rate, meaning, any business deals will happen at a fast pace such that there will be little or no additional charges but hidden charges will be totally non-existence.
Personal wallet Offer: Point of Stake has finalized plans on the proportional divide from 0% to 10% this is what is obtainable in terms of profit on what you can get as an offer by using your personal wallet. You will have your personal wallet in storing Pool of Stake coins therein. There exist some models for analyzing a number of tokens that frequent the platform. It offers the best reward for everyone that immensely participates in the platform.
Securities system: The platform will help to secure data with the presence of AI, smart contract and blockchain technologies.

PROOF OF WORK & PROOF OF STAKE DIFERENCES

Proof-of-work: a method which requires miners to validate transactions on a blockchain by working out a mathematical function (called hash).

Proof-of-stake: a method which allows miners to validate block transactions according to how many coins they choose to put at stake on that network (as deposits). Here is a post where the founder of Ethereum explained a design philosophy of PoS.

Both methods exist to serve a common purpose on the blockchain: To validate that the person sending bitcoin (or any digital currency) has the correct amount of funds in their account. And that after the transaction is done, he or she no longer has the coin in their account (aka. to avoid double spending).

And yet, the two take an inherently different approach towards that goal. PoW v.s. PoS: Buying a shovel v.s. Deposit in a bank.

By definition, Proof-of-Work means to solve the hash function and prove the result is correct. While it’s hard to unravel the function, it’s easy for other miners to verify the result once a miner gets it – just putting it back to the function to see if it works out, like an algebraic problem. If it does, congrats! Here’s the prize. So take out your shovel, do the physical work, and show everybody you have mined the gold.

Proof-of-Stake, however, is a mechanism that needs no math. Instead, inside the network, you simply lock up a certain amount of your stake, i.e. your whatever cryptocurrency generated in this blockchain. That is your proof because something is at stake.

The network uses a random selection algorithm to determine who the next block creator is, with factors like how many coins you lock up, what the coin’s age is, or how long you have locked up already, etc. Different PoS-based blockchain has various criteria, but the gist is not much hardware work is required. It’s somewhat like deposition and interests.

In PoW-based blockchain, miners do the hard work and will be rewarded. Recall Bitcoin and Ethereum, where a new block rewards 12.5 Bitcoins and 5 Ethers. But there’s another thing called a transaction fee. When you send a Bitcoin to me, that transaction needs to be validated and documented on the blockchain through the hash function math that miners are doing.

But they are not doing it for free so you need to attach a transaction fee. The next lucky miner who creates the next block will receive all the transaction fees and the block reward itself, so it’s 12.5+ Bitcoins.

In PoS method, the blockchain has no block reward. Only transaction fees. That’s also why participants in the PoS blockchain should be called validators, not miners. They only facilitate the validation process of transactions without the mining activity like PoW does.