Page Summary
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.
What Cryptocurrencies use proof of stake?
Cardano, Avalanche, Polkadot, Solana, TRON, EOS, Algorand, and Trezor are examples of cryptocurrencies that use a PoS system.
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Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…