Home Education/Cryptocurrency Proof of Stake

Proof of Stake

7
0
Regal Wallet Banner

Proof of Stake is a consensus mechanism for blockchain technologies. It works by selecting validators according to the quantity of cryptocurrency they hold. Every blockchain uses a consensus mechanism to keep its network safe. It is difficult for attackers to get more than 51% of a cryptocurrency. For this reason, they cannot easily take over a Proof of Stake network. Proof of Stake is different from Proof of Work, in which miners validate transactions. The first Proof of Stake cryptocurrency was Peercoin.

proof-of-stake

What Cryptocurrencies use proof of stake?

Cardano, Avalanche, Polkadot, Solana, TRON, EOS, Algorand, and Trezor are examples of cryptocurrencies that use a PoS system. 


Methodology
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized. 

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Previous articleProof of Identity
Next articleProof of Work
Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

LEAVE A REPLY

Please enter your comment!
Please enter your name here