Make the Revolutionary shift to Pool of Stake

The shift from the traditional Proof of Work (PoW) to Proof of Stake (PoS) Proof of Work
Proof of Stake is the new consensus algorithm that is starting to dominate the blockchain landscape. Within 24 months, PoS is expected to become the new gold standard of blockchain and Pool of Stake will be prepared to become the leading staking pool for PoS in the world. The vision of a valuable cryptocurrency entails trustless, permissionless protocols, and decentralization. First-generation PoW blockchains are ecologically unsustainable and they compromise decentralization.
Cryptocurrencies like Bitcoin, generate new coins through mining and rely heavily on computational power to solve mathematical rebuses based on blockchain principles. The Bitcoin network has grown immensely and gained tremendous popularity over the past few years. The Bitcoin PoW algorithm is currently viewed as problematic, since it has the capacity of maximum 7 transactions per second, transaction fees of $50 and a yearly electricity consumption of 42 TWh, which is more than that of New Zealand. These key findings reveal that the Bitcoin network has severe limitations for scalability and big problems related to efficiency. This causes Bitcoin to diverge from its core philosophy. In 2012 the scuffle over Bitcoin Cash forced the Bitcoin community to take a leap into the future by introducing a new generation of consensus algorithm, namely Proof of Stake (PoS). In 2019 Ethereum will fully shift from PoW to PoS. PoS is the future of blockchain and Pool of Stake is already here to bring PoS coin holders together and make the greatest profit possible.
First-generation PoW Mining drawbacks
At the dawn of Bitcoin, mining for coins required a computer, an application, and the desire to engage in it. As the Bitcoin network grew in size and popularity, more powerful and expensive hardware became a necessity, thus making it impossible for small miners to continue operating. This caused the formation of highly centralized mining pools in Bitcoin.
PoW versus PoS coin Staking
The fundamental difference between PoW and PoS is the pattern that governs the process of forging each next block within the blockchain. In PoW, the only way to mine for coins is by using computational power derived from CPU and from GPU. At first, desktop computers and laptops had enough hardware for coin mining with the same Bitcoin core client, which also served the purpose of a peer-to-peer communication protocol. The increase of the overall hashing power of the Bitcoin network had made it even more difficult to compute the SHA algorithm-3 (SHA-256). The hardware of PCs was no longer enough, so small miners were forced to buy new, expensive machines with enhanced graphics capabilities in order to continue mining for Bitcoins.
​The rapid growth of the Bitcoin network made it increasingly problematic for miners to find mathematical puzzles and to mine for extra coins. This led to the formation of highly professionalized mining pools with mining farms, that prevail over the individual small miner. A recent study reveals that 56% of Bitcoin nodes reside in data centers. In other words, decentralization, the core value of blockchain technology, is highly compromised with current Bitcoin PoW protocols. These centralized mining pools in PoW pose dangers to the global community and promote vices like selfish coin mining. The fundamentally different structure of PoS resolves many of these issues.
PSK and IOU Tokens
Users can buy PoS coins like Qtum or Stratis from cryptocurrency exchanges. In order to increase profits, users engage in Pool of Stake where they transfer their PoS coins into the Pool of Stake full node and receive an IOU token via a Smart Contract, as an acknowledgment their investment. The daily reward each user gets is calculated at 23:59:59 CEST same day. In doing so, users generate passive income for themselves with their invested PoS coins based on the already collected rewards of the entire Pool of Stake community.
PSK is a utility ERC-20 token. The PSK token provides users with discounts on withdrawal fees. The PSK token is based on the Ethereum blockchain. This enables users to safely keep PSK tokens in their favorite Ethereum wallet.
The IOU token serves the purpose of declaring initial PoS coin ownership and rewards. IOU tokens cannot be traded on exchanges, not even among PSK community members. Pool of Stake platform acts as a regular node on PoS coins. Our vision for the next 3 to 5 years is to be able to stake on Smart Contracts which will make Pool of Stake trustless and decentralized.
Pool of Stake Rewards
The reward for each Pool of Stake community member will be determined every day at 23:59:59 CEST. The reward is proportional to the amount of coins invested. The process is accompanied by the IOU token distribution to each according member. The bigger the pool, the greater the total rewards and hence the proportion for every Pool of Stake community member.
​Withdrawing the amount of the initially invested PoS coins is free of charge. The withdrawal of rewards, however, will involve a service fee. In order for Pool of Stake community members to obtain maximum gain on rewards, the correlation between owned PSK tokens and the value of the daily reward is important. The PSK platform and apps will suggest to PSK members unique strategies for obtaining the maximum amount of rewards.
Platform Services
The vision for the Pool of Stake platform is to enable users to conveniently check the state of the pool and collected rewards. Protecting user privacy is also a prerogative of ours. For the purpose, the platform will employ a smart i.o. database. Pool members will be able to check the total amount of coins held by the entire pool and total rewards generated. This will enable members to verify the accuracy of their individual rewards. Additionally, the analytics of the smart i.o. database displays the performance of all the different PoS coins. This enables pool members to easily observe which coin has generated the most rewards during the last day, week, month and even year so that they can make more informed decisions for their future investments.
PoS coin performance will be assessed for pool reward performance and individual Pool of Stake members. The platform will include a communication tool so that platform members can communicate with each other, make proposals to the community and vote on important decisions.