Proof-of-Stake news

Establishes consensus by measuring economic means supporting a particular chain.

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Tezos’ Arthur Breitman discusses transactions fees and inflation for PoS-based blockchains

Recently, Tezos Founder Arthur Breitman tweeted about how transaction fees for PoS-based blockchains are deflationary, while those on PoW-based blockchains are not. An important difference between PoW and PoS is that, in the former, transaction fees accrue to the hashpower of the network, with no corresponding reduction in inflation, whereas in the latter it acrues […] The post Tezos’ Arthur Breitman discusses transactions fees and inflation for PoS-based blockchains appeared first on AMBCrypto.
AMBCrypto

Croatia Launches First Physical Cryptocurrency POS Product

According to a press release from local newspaper Total Croatia News, Croatia is about to experience the very first crypto payment product which is fully regulated and compliant with local rules, September 16, 2019. A New Crypto POS Croatia is about witness its first crypto gateway product, the Adeo POS Cash Register. It is the veryRead MoreRead More. The post by Edoardo Vecchio appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Pool-X: The Next Generation PoS Mining Pool By KuCoin

Technology has become an integral part of everyday life. It is ever-evolving and is responsible for changing lifestyles for people worldwide. Newer technological inventions are taking the market by storm and people hardly take any time to get accustomed to these. One such advancement today is cryptocurrencies. These are a revolutionary new form of money that are being used to buy products and services. This money isn't tied to a bank, or controlled by a government. This idea is being adapted by KuCoin, as one of the many cryptocurrency exchanges in the crypto world. This is available for those in search of a modern and secure platform to trade between cryptocurrencies. KuCoin is considered as one of the top dogs in crypto exchange. It was founded by a group with a passion for the blockchain who had already built up strong reputations at industry giants, such as GF Securities, Ant Financial, Youling, Jianbang Communication, and iBOX PAY. Kucoin always aims to provide users with a safe and straightforward method of converting their currencies on a state-of-the-art platform. With that vision in mind, KuCoin launched Pool-X. Pool-Xis a trading platform where users can take part in staking pools and operate nodes. Unlike other staking platforms, users on Pool-X are free to unstake their tokens at any time, providing an opportunity to adapt to the changing market conditions, similar to KuCoin’s own Soft Staking program. This is possible through the use of liquidity certificates, which essentially represent ownership of a certain amount of staked tokens and can be traded with others in order to receive the tokens. As said in this article <KuCoin Blog, Pool-X is an independently operated pool that is co-incubated by KuCoin and its partners. It is the next generation PoS mining pool supporting lockup crypto transactions. With the aim to stimulate the future development of the PoS ecosystem, Pool-X offers services including but not limited to: liquidity trading market, node integration, and operational solutions. This is not only an advancement for KuCoin Exchange but also a progress on the emerging market of cryptocurrency. This innovation will help in the growth and development of the the technology as a whole.
/r/CryptoMarkets

BitcoinOil Announces the Implementation of its Proof of Stake Algorithm

Coinspeaker BitcoinOil Announces the Implementation of its Proof of Stake AlgorithmBitcoinOil GmbH plans to solve the existing environmental and processual problems of the cryptocurrency sector by implementing a Proof of Stake algorithm on a Bitcoin based Blockchain instead of the widely used Proof-of-Work structure.BitcoinOil (BTCO) is a new cryptocurrency, a hard fork of the original Bitcoin blockchain that is anticipated to be launched in 2019. The implementation of the BTCO hard fork, currently in BETA testing, is designed to create the most technologically advanced version of blockchain to date.The centerpiece of BTCO and its “Optimally Improved Ledger” (OIL), the highly innovative “SSPSS” strategy, is to focus on the development and implementation of essential Bitcoin improvements in the fields of Stability, Sustainability, Privacy, Smart Sidechains, and Scalability (“SSPSS”).The company’s new cryptocurrency, BitcoinOil, will utilize the minimum consumption of natural energy required. The plan of going green is to move away from Bitcoin’s Proof-of-Work algorithm to the newly introduced BTCO Proof of Stake algorithm.For any blockchain technology to see through its full potential there needs to be a system in place that stimulates sustainable energy use and production, thus ensuring:Ecosystem conservation and biodiversity protection;Sustainable development of local traditional communities;CO2 emissions reduction.Current Problems Regarding Energy ConsumptionBitcoin uses a Proof-of-Work (PoW) algorithm, a technology that proved to be extremely inefficient in terms of energy consumption. Proof-of-Work transactions are verified by miners, which bundle them up, link them to the previous block of the blockchain and try to solve the PoW problem.PoW problems are difficult to solve, requiring miners to spend computing power solving these problems. Thus, the processing power used for production of Bitcoin gives underlying value to the cryptocurrency.The market for Bitcoin mining is also incentive based and is quite competitive. Due to this competition, energy consumption is rising because of Bitcoin’s exponential price rise, not because the network actually requires it. This is an unintended correlation which leads to extreme electricity consumption as the price of Bitcoin continues to rise to higher prices. This price growth is additionally a huge incentive for miners to add even more ASICs and use up even more energy.The Proof-of-Work algorithm also provides users the ability to utilize Bayes Theorem and The Laws of Thermodynamics to prove that a given block has indeed required a certain amount of work to be mined. That way, users can simply pick the longest valid chain with the highest amount of work as the correct chain.Evidentially Proof-of-Work is extremely inefficient in terms of energy consumption and is not sustainable for the long term. Currently BTC miners are using more electricity than the country of Denmark, than all people in Syria and equal to that of 520,000 Canadians. It’s no wonder that many countries are imposing sanctions to limit Bitcoin mining in order to mitigate energy waste.What’s more, Bitcoin is not the only cryptocurrency that operates on PoW. Ethereum, Bitcoin Cash, Litecoin, Monero, Dogecoin and many others – all use PoW. As these cryptos increase their market caps, they will each require more energy for proper functioning.Solution: BitcoinOil’s Revolutionary Proof-of-Stake AlgorithmBitcoinOil will not only be the most technologically advanced cryptocurrency, but it will introduce actionable proposals for the solution of Bitcoin’s aggravating energy consumption and other technical issues. Through the use of a Proof of Stake (PoS) protocol and a number of additional blockchain innovations, BitcoinOil will lead the way by means of progress, results and implementation to the benefit of users, communities and the environment.The first Proof of Stake algorithm was introduced in 2011 on the Bitcointalk forum as a solution to the problems of the current most popular algorithm in use – Proof of Work. While they both share the same goal of reaching consensus in the blockchain, the process to reach the goal is quite different.Proof of Stake isn’t about mining, it’s about validating. In effect, blocks in a PoS blockchain still need to be created by someone, and who gets to create the next block depends on the specific PoS algorithm. The selection process for this must have some kind of randomness, or at least be distributing voting shares properly (otherwise we revert to a centralized system).In PoS, each validator owns some stake in the network that they bond. Bonding stake means you deposit some money into the network, and in some sense use it as a collateral to vouch for a block. In PoW you know a chain is valid because lots of work is behind it, while in PoS you trust the chain with the highest collateral.There are important differences between the various Proof of Stake algorithms that are being developed.BitcoinOil will use its PoS algorithm, where the stake of malicious validators is going to get (partially) slashed, for example if they sign two (competing) blocks with too high a probability.The problem of enormous energy consumption is far not the only one that BTCO aims to solve by introducing PoS algorithm.By leveraging BitcoinOil’s Proof of Stake (“PoS”) algorithm, BitcoinOil believes that the adoption of BitcoinOil by participants of the BitcoinOil distributed ledger network (“BitcoinOil Network”) will create one of the first true incentive-based ecosystems, enabling price stability through coin holder’s holding of BitcoinOil. BTCO intends to implement such incentive-based ecosystems through its Hodlers Rewards.BitcoinOil Announces the Implementation of its Proof of Stake Algorithm
Coinspeaker

Cielo Connects 1.4 Million POS Devices To Start Accepting Crypto Payments

Cielo is a Brazil-based company that provides services related to credit cards and other payment methods. In fact, they are the largest providers of such services in the country. So, when they confirmed that users in Brazil could pay in cryptos, it was one of the best news for adoption in the country in recent […]
Bitcoin Exchange Guide
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Proof-of-Stake news by Finrazor

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Proof-of-Work and alternative consensus algorithms, advantages and disadvantages of Proof-of-Work as well as its working process, the role of hash and the way to find it, the difference between dual and hybrid mining

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IOTA Introduces Permanode Tech For Long-Term Data-Storage

The IOTA Foundation is taking a major step towards ensuring permanency in the Tangle, announcing a “Permanode” technology called Chronicle. IOTA is designed as a protocol for the permissionless and frictionless exchange of value between machines and humans, with the Tangle acting as a distributed ledger. Using the new permanode technology, users will be able to securely store data, where it will be  “verifiable to third parties for free.”   While some data doesn’t need to be stored for years, decades, or lifetimes, certain sorts of data require greater permanence. “For example,” the IOTA blog explains, “financial data must be stored for 10 years in some cases, and identity data needs to be kept for the lifetime of the identity.”  The IOTA Foundation describes the new permanode technology as a “crucial building block” for enabling these types of use-cases. The Foundation describes Chronicle as the “official permanode solution,” enabling easy access to the Tangle’s entire history, which is stored indefinitely via the technology.  The system is described as a “distributed fault-tolerant permanode that scales out and up…”     source: IOTA Foundation   Chronicle has some unique and interesting use-cases for community members and businesses, such as offering “query as a service.” Node owners might find a new stream of revenue charging IOTA tokens to access Tangle data. Further services could be added through “Multiplex networks,” offering “microservices… that can communicate with public and private dataset(s) under different policies.”  Chronicle is due for a third-party audit to ensure it is ‘water-tight’ before it is released to the public. The IOTA Foundation invites community members to take part in the work, with grants available for “developing and expanding the notion of permanodes.”   source: CoinMarketCap   IOTA joined the altcoin surge today, enjoying a healthy bump of more than 14% in value against USD and BTC over the past 24 hours. The token has enjoyed a positive week, with over 10% growth in USD price over the past seven days.   The post IOTA Introduces Permanode Tech For Long-Term Data-Storage appeared first on Crypto Briefing.
CryptoBriefing

HUGE Altcoin Updates! Stellar, Binance US, Tomochain, Digibyte, NEO, Monero, Bitcoin Bakkt

Binance Adds BNB to Binance US https://finance.yahoo.com/news/binance-us-adding-7th-coin-102155751.html A brief history of the world of crypto. Plus, all of the latest news and updates from the Stellar Developers ecosystem https://medium.com/stellar-community/stellar-dev-digest-issue-14-ea71609a22b0 How TomoChain’s TomoZ intends to take on Ethereum market share! https://twitter.com/TomoChainANN/status/1173152916888096768 https://twitter.com/Altcoinbuzzio/status/1172575745584971777 https://www.altcoinbuzz.io/crypto-news/product-release/how-tomochains-tomoz-intends-to-take-on-ethereum-market-share/ Virtual Rehab with Virtual Reality is now solving real-world problems https://cryptodaily.co.uk/2019/09/apple-entry-blockchain-via-rumoured-vr-project https://www.zerohedge.com/news/2019-09-09/virtual-reality-now-solving-real-world-problems Celer Network and NEO Are Launching a Partnership https://www.altcoinbuzz.io/crypto-news/partnerships/celer-network-and-neo-are-launching-a-partnership/ Bitcoin #Bakkt Tweet https://twitter.com/Bakkt/status/1173683919687966720 Big! #Monero ready to use Zcoin’s Privacy protocol https://www.altcoinbuzz.io/crypto-news/product-release/big-monero-ready-to-use-zcoin-privacy-protocol/ #digibyte lists on UpHold https://twitter.com/DigiByteCoin/status/1173623829652004866 #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin crypto.com cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
Altcoin Buzz

Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

The Celsius app offers the industry highest rates and supports six different stablecoins all eligible to earn up to 12.03% annually with interest paid out weekly Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network's blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, ...Full story available on Benzinga.com
Benzinga

VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

Less than two weeks after VanEck and SolidX rolled out the VanEck SolidX Bitcoin Trust ETF (XBTC), a bitcoin exchange traded product aimed at institutional investors, the firms said they're withdrawing plans for bitcoin exchange traded fund aimed at a broader swath of investors. What Happened The ETF issuer and the fintech firm pulled the filing from consideration by the Securities and Exchange Commission on Sept. 13. The agency had delayed an ultimate decision on that product, as it has with various other bitcoin ETF proposals, several times, but was facing a hard and fast deadline of Oct. 18 to approve or disapprove the VanEck SolidX Bitcoin Trust. “Tuesday’s filing marks the second time VanEck and SolidX withdrew the proposed ETF. ...Full story available on Benzinga.com
Benzinga

IOTA Introduces Chronicle Permanode to Amend Scalability Issues

IOTA, a permissionless trust protocol designed to revolutionize the Internet of Things (IoT) ecosystem by facilitating a frictionless exchange of value between machines and humans, has announced the launch of Chronicle, a permanode solution the team hopes will give node operators an unlimited amount of storage space in their Tangle distributed database, according to aRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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