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[One web3 concept every day] Quickly understand POS
The flaw of POW is that everyone consumes a lot of energy, so it has been criticized by many people. If you want to achieve universal trust (a coined word, universal trust), there are also some other algorithms that can achieve it. One of them is POS.
POS (Proof of Stake), also called proof of equity. What are rights and interests? It is the assets owned by users in the blockchain system. So what is proof of stake? It is easy to understand by taking an example from "Fengshen". Nodes pledge their rights and interests to the chain as "protons" and become "verifiers". When a block is to be produced, the system will randomly select a verifier to package the transaction. If this verifier is a "traitor" and has malicious behavior , then the system will confiscate his "protons" as punishment.
Although the mechanism is different from that of POW, the principles are the same. They all assume that there are traitors in the blockchain system, and that traitors will pay huge costs for doing evil. POW chooses to let participants answer questions, which requires a lot of computing resources and is extremely costly to control the network. POS, on the other hand, chooses to let all participants take hostages. If the traitor does evil, then his hostages will be killed.
In many PoS systems, a participant's chance of becoming a validator is directly proportional to the "stake" he holds. This means that validators who stake more assets have a higher chance of being selected as the creator of the next block. At the same time, validators are rewarded for their verification work, perhaps in the form of newly issued currency or network transaction fees.
Finally, in some POS mechanisms, the rights and interests are not only tokens, but also the time of holding the currency, reputation, points, etc., which can be counted as rights and interests. Therefore, broadly speaking, POS does not necessarily require pledging tokens.
#pos #pow #MAV
The flaw of POW is that everyone consumes a lot of energy, so it has been criticized by many people. If you want to achieve universal trust (a coined word, universal trust), there are also some other algorithms that can achieve it. One of them is POS.
POS (Proof of Stake), also called proof of equity. What are rights and interests? It is the assets owned by users in the blockchain system. So what is proof of stake? It is easy to understand by taking an example from "Fengshen". Nodes pledge their rights and interests to the chain as "protons" and become "verifiers". When a block is to be produced, the system will randomly select a verifier to package the transaction. If this verifier is a "traitor" and has malicious behavior , then the system will confiscate his "protons" as punishment.
Although the mechanism is different from that of POW, the principles are the same. They all assume that there are traitors in the blockchain system, and that traitors will pay huge costs for doing evil. POW chooses to let participants answer questions, which requires a lot of computing resources and is extremely costly to control the network. POS, on the other hand, chooses to let all participants take hostages. If the traitor does evil, then his hostages will be killed.
In many PoS systems, a participant's chance of becoming a validator is directly proportional to the "stake" he holds. This means that validators who stake more assets have a higher chance of being selected as the creator of the next block. At the same time, validators are rewarded for their verification work, perhaps in the form of newly issued currency or network transaction fees.
Finally, in some POS mechanisms, the rights and interests are not only tokens, but also the time of holding the currency, reputation, points, etc., which can be counted as rights and interests. Therefore, broadly speaking, POS does not necessarily require pledging tokens.
#pos #pow #MAV
#vrcnetwork #miningapp #pos #MyFirstFeedPost Hello, Binance Square! spend financial freedom life join my team. $vrc #vrccoin
Vitalik Buterin admits Ethereum could've benefited from a simpler Proof of Stake (PoS) system implemented sooner.
He also regrets not including automatic logging from the start. While Ethereum enjoys mainstream success, Buterin believes it's misunderstood compared to Bitcoin's clear "digital gold" narrative.
#VitalikButerin #pos #ProofOfStake #Ethereum
He also regrets not including automatic logging from the start. While Ethereum enjoys mainstream success, Buterin believes it's misunderstood compared to Bitcoin's clear "digital gold" narrative.
#VitalikButerin #pos #ProofOfStake #Ethereum
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$ETH I made my profit realization piece by piece and made 100% profit in one week. I still have #icp coins on spot. But my profit is in my bank account and I have peace of mind. If there is another sudden drop, I will make a few thousand more profits, then I will wait for the altcoin rally and follow the support and resistance zones.
If #Fed makes negative or hawkish comments on March 20th, #btc will make another harsh correction. Or we can say that bitcoin has priced itself by 80% since those hawkish comments were predicted in advance. The remaining 20% pricing will take place around 22:00 on the night of March 20.
After this time, I think #pos coins will make ath, if the price drops when there is a halving in BTC,#btxwill drop even more to cover the costs, so they will start producing by staking coins such as#etheriumicp,#filecoin#avalanche with the company's POS system. In this case, I expect#etheriumto rise to $50,000. However, if companies choose to produce BTC with alternative energy sources, the current order will continue. big companies will continue to be the biggest whale.
It is not investment advice. YTD
If #Fed makes negative or hawkish comments on March 20th, #btc will make another harsh correction. Or we can say that bitcoin has priced itself by 80% since those hawkish comments were predicted in advance. The remaining 20% pricing will take place around 22:00 on the night of March 20.
After this time, I think #pos coins will make ath, if the price drops when there is a halving in BTC,#btxwill drop even more to cover the costs, so they will start producing by staking coins such as#etheriumicp,#filecoin#avalanche with the company's POS system. In this case, I expect#etheriumto rise to $50,000. However, if companies choose to produce BTC with alternative energy sources, the current order will continue. big companies will continue to be the biggest whale.
It is not investment advice. YTD
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🛫Similarly and with the same POS label, $BB is also a good product to hold the spot for a long time.
🤫 BB is different from the other children in POS. Because the list was just released despite the airdrop, it was collected instead of waiting to create a cycle and promote according to the general trend of the market.➡️ The project was confident with this trend this year and the peak was $XVG , which is also a product of the brand. POS is pushing very quickly because POW has almost been replaced and POS is extremely related to stalking (also a big trend this year).
👉 Collect 0.4-0.45, don't forget it because the current potential is even greater than $NOT and other average lottery numbers like W or ENA. Because this is a sideway and not really a push. Don't be too surprised that BB's pumps in just 1 hour can go up to 150-200% in the future.
____________
#holdspot #holdtrading #Ryasnosh #pos #EarnFreeCrypto2024
🤫 BB is different from the other children in POS. Because the list was just released despite the airdrop, it was collected instead of waiting to create a cycle and promote according to the general trend of the market.➡️ The project was confident with this trend this year and the peak was $XVG , which is also a product of the brand. POS is pushing very quickly because POW has almost been replaced and POS is extremely related to stalking (also a big trend this year).
👉 Collect 0.4-0.45, don't forget it because the current potential is even greater than $NOT and other average lottery numbers like W or ENA. Because this is a sideway and not really a push. Don't be too surprised that BB's pumps in just 1 hour can go up to 150-200% in the future.
____________
#holdspot #holdtrading #Ryasnosh #pos #EarnFreeCrypto2024
🔥 $DUSK just increased 4% and is about to bring the POS trend back to $ETH and $INJ is the best choice in a market with an unknown short-term trend like this 🔥
👉 Just returned to the solid support zone with wave vol from price 24.5.
👉 Although the sideway is from May 24 to May 30, the volume is still large and this shows that the ability to collect goods from the project is very large because usually in the sideway, they self-discharge and buy back more.
👉 It may be medium risk but the general short-term trend is still up until $btc reaches 68800.
_______________
#Ryasnosh #scalping #Long/Short #EarnFreeCrypto2024 #pos
👉 Just returned to the solid support zone with wave vol from price 24.5.
👉 Although the sideway is from May 24 to May 30, the volume is still large and this shows that the ability to collect goods from the project is very large because usually in the sideway, they self-discharge and buy back more.
👉 It may be medium risk but the general short-term trend is still up until $btc reaches 68800.
_______________
#Ryasnosh #scalping #Long/Short #EarnFreeCrypto2024 #pos
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BRC-20 is the inscribed track with the most potential and investment value, no one else #BRC2O
1. First impression:
Looking at many hot spots in the virtual currency industry, the first hot spot ecology to open has a leading position and can never be surpassed.
2. BTC Coin King Ecology:
Unable to shake its elegant aristocratic pedigree, many old people in the virtual currency industry who have struggled for many years have regained their feelings for Bitcoin.
3. #矿工 Benefits:
The huge amount of ordinals market transactions directly brings profits to Bitcoin miners. After the miners gain profits, they reinvest the gains into potential currencies in the ecosystem. When the currency price rises, it once again brings more traffic and increases transactions. At the same time, the amount of money allowed miners to make a lot of profits again, and the number of currency holding addresses increased again, which also increased the opportunities to get listed on major exchanges. A high-quality closed-loop ecosystem that is completely mutually beneficial and win-win. It is the only large source of ecological funds for the #POW currency, no one else.
4. #交易所 supports:
Major exchanges have affirmed their dominance and continued to support the potential currency in the exchange ecosystem $ORDI $1000SATS , once again driving the FOMO sentiment of the BRC-20 ecosystem.
5. Let’s complain about the #pos type inscription ecology. The non-existence of miners means that there are no sources of large funds. Except for the narrative of the first minter, there is no positive large incentive funds to enter the market. After riding on the popularity of BRC-20 for a while, it will eventually enter decline. . All chains will be unified, and all inscriptions, including some of the leaders of other tracks, will surrender to BRC-20 after the next coin is listed on the big post.
$BTCS $RATS…
1. First impression:
Looking at many hot spots in the virtual currency industry, the first hot spot ecology to open has a leading position and can never be surpassed.
2. BTC Coin King Ecology:
Unable to shake its elegant aristocratic pedigree, many old people in the virtual currency industry who have struggled for many years have regained their feelings for Bitcoin.
3. #矿工 Benefits:
The huge amount of ordinals market transactions directly brings profits to Bitcoin miners. After the miners gain profits, they reinvest the gains into potential currencies in the ecosystem. When the currency price rises, it once again brings more traffic and increases transactions. At the same time, the amount of money allowed miners to make a lot of profits again, and the number of currency holding addresses increased again, which also increased the opportunities to get listed on major exchanges. A high-quality closed-loop ecosystem that is completely mutually beneficial and win-win. It is the only large source of ecological funds for the #POW currency, no one else.
4. #交易所 supports:
Major exchanges have affirmed their dominance and continued to support the potential currency in the exchange ecosystem $ORDI $1000SATS , once again driving the FOMO sentiment of the BRC-20 ecosystem.
5. Let’s complain about the #pos type inscription ecology. The non-existence of miners means that there are no sources of large funds. Except for the narrative of the first minter, there is no positive large incentive funds to enter the market. After riding on the popularity of BRC-20 for a while, it will eventually enter decline. . All chains will be unified, and all inscriptions, including some of the leaders of other tracks, will surrender to BRC-20 after the next coin is listed on the big post.
$BTCS $RATS…
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🔥 $DUSK just increased 4% and is about to bring the POS trend back to $ETH and $INJ is the best choice in a market with an unknown short-term trend like this 🔥
👉 Just returned to the solid support zone with wave vol from price 24.5.
👉 Although the sideway is from May 24 to May 30, the volume is still large and this shows that the ability to collect goods from the project is very large because usually in the sideway, they self-discharge and buy back more.
👉 It may be medium risk but the general short-term trend is still up until $btc reaches 68800.
_______________
#Ryasnosh #scalping #Long/Short #EarnFreeCrypto2024 #pos
👉 Just returned to the solid support zone with wave vol from price 24.5.
👉 Although the sideway is from May 24 to May 30, the volume is still large and this shows that the ability to collect goods from the project is very large because usually in the sideway, they self-discharge and buy back more.
👉 It may be medium risk but the general short-term trend is still up until $btc reaches 68800.
_______________
#Ryasnosh #scalping #Long/Short #EarnFreeCrypto2024 #pos
Proof of Stake: A Beginner's Guide
If you're new to the world of cryptocurrencies, you may have come across the term "proof of stake" (PoS) and wondered what it means. As someone just getting started in crypto, it's important to understand the different consensus mechanisms that power blockchain networks.
Proof of stake is an alternative to the more well-known proof of work (PoW) model used by cryptocurrencies like Bitcoin. In a PoW system, powerful computers called miners compete to solve complex mathematical problems in order to validate transactions and add new blocks to the blockchain. The miner who solves the problem first is rewarded with newly created cryptocurrency.
Proof of stake, on the other hand, works a bit differently. Instead of miners, PoS blockchains have validators who are responsible for verifying transactions and creating new blocks. To become a validator, you need to "stake" or deposit a certain amount of the cryptocurrency. The more you stake, the higher your chances of being selected to validate the next block and earn the rewards.
The key advantage of proof of stake is that it is much more energy-efficient than proof of work. PoW mining requires a lot of computing power and electricity, which has led to concerns about the environmental impact of cryptocurrencies. PoS, in contrast, is a lot more sustainable since it doesn't require the same level of energy-intensive computations.
Another benefit of proof of stake is that it lowers the barriers to participation. In a PoW system, you need specialized and expensive mining equipment to have a chance of earning rewards. With PoS, anyone can become a validator as long as they have the minimum stake requirement, making it more accessible.
Of course, proof of stake also has its own set of challenges. There are concerns about the potential for centralization, as validators with larger stakes may have outsized influence. PoS networks also face security risks like "nothing at stake" attacks, where validators can vote on multiple competing blockchain versions without penalty.
Overall, proof of stake is an important development in the world of cryptocurrencies. As more blockchain projects adopt this consensus mechanism, it's likely to play an increasingly crucial role in the future of the crypto ecosystem. If you're new to crypto, understanding the basics of PoS is a great place to start your journey.
Proof of stake is an alternative to the more well-known proof of work (PoW) model used by cryptocurrencies like Bitcoin. In a PoW system, powerful computers called miners compete to solve complex mathematical problems in order to validate transactions and add new blocks to the blockchain. The miner who solves the problem first is rewarded with newly created cryptocurrency.
Proof of stake, on the other hand, works a bit differently. Instead of miners, PoS blockchains have validators who are responsible for verifying transactions and creating new blocks. To become a validator, you need to "stake" or deposit a certain amount of the cryptocurrency. The more you stake, the higher your chances of being selected to validate the next block and earn the rewards.
The key advantage of proof of stake is that it is much more energy-efficient than proof of work. PoW mining requires a lot of computing power and electricity, which has led to concerns about the environmental impact of cryptocurrencies. PoS, in contrast, is a lot more sustainable since it doesn't require the same level of energy-intensive computations.
Another benefit of proof of stake is that it lowers the barriers to participation. In a PoW system, you need specialized and expensive mining equipment to have a chance of earning rewards. With PoS, anyone can become a validator as long as they have the minimum stake requirement, making it more accessible.
Of course, proof of stake also has its own set of challenges. There are concerns about the potential for centralization, as validators with larger stakes may have outsized influence. PoS networks also face security risks like "nothing at stake" attacks, where validators can vote on multiple competing blockchain versions without penalty.
Overall, proof of stake is an important development in the world of cryptocurrencies. As more blockchain projects adopt this consensus mechanism, it's likely to play an increasingly crucial role in the future of the crypto ecosystem. If you're new to crypto, understanding the basics of PoS is a great place to start your journey.