NXT - Proof of Stake and the New Alternative Altcoin
When the crypto community thinks of altcoin, cryptocurrencies like Litecoin, Dogecoin, and Peercoin are usually first on their mind. We have seen a growing number of altcoin since Bitcoin's introduction in 2009, simply because of the rapid adoption of cryptocurrencies all over the world. But is it possible to have an alternative altcoin? The new and....
Related News
Given the relatively quiet altcoin market, it's easy to miss the new technologies and interesting applications that are gaining ground. Yet, as September rolls to a close and October lies just around the corner, it might be premature to assume that the altcoin world is running out of steam as some have suggested. Today's roundup includes a chat with the developer of XCurrency, a look at I/O's new proof-of-stake concept and an altcoin that is out of this world. I/O preps next-gen proof-of-stake framework. The proof-of-stake (PoS) concept has expanded in recent months, including....
Vericoin has launched an innovative and potentially game-changing approach to gaining merchant acceptance that could shake up the altcoin world should the service gain broader usage. Launched in May, vericoin is a proof-of-stake altcoin that features a variable interest rate which fluctuates depending on how many coins are staking. As more coins are used to stake and support the network, the interest rate climbs. One of the ways in which alternative digital currencies seek a broader audience is through expanding merchant acceptance. Companies like Coinkite and CoinPayments.net enable....
What is delegated proof of stake? “(DPOS) Delegated proof of stake is a new consensus algorithms that allows shareholders (or the users of the system) to have control over who is certifying the ledger. it allows us to have 10 second block times, process 10 transactions per second or more, and allows the network to scale; to have dedicated nodes that are highly efficient and specialized yet remain in control of the shareholders. We can actually have 10 second confirmation on your blocks that is more secure than bitcoin.” How is DPOS different than proof of stake or proof of work? “Proof of....
This week, Bitcoinist has published two excellent articles on the topic of DPOS, or delegated Proof of Stake. Both written by Alberto Mata, DPOS is a new feature that Bitshares is talking about, which they believe solves problems of both proof or work and proof of stake systems alike, adding another layer of security by countering the negative effects of trust centralization. One fact that is pointed out however is that it a DPOS system is still vulnerable to 51% attacks, but the cost would be much higher compared to another systems. To read more visit the following articles: Dan Larimer....
A technical and in-depth analysis of the trade-offs that Ethereum’s consensus mechanism makes in its switch to proof-of-stake and how proof-of-work differs.