Questions tagged [proof-of-stake]

Proof of stake is an alternative consensus mechanism that adapts mining success chances with the proportion of the cryptocurrency's tokens held by the miner.

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7
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2answers
798 views

How does a mix between Proof of Work/Stake work? (Peercoin) [closed]

I think I understand Proof of Stake and Proof of Work from a conceptual point now. For themselves both are good ideas for sure, but how would a crypto currency like Peercoin (PPC) combine both of them?...
2
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0answers
104 views

How do the Peercoin nodes verify a new block found by proof-of-stake? [closed]

Is the method for verifying a new block found by proof-of-stake minting the same as if it were found by proof-of-work mining?
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0answers
79 views

How does a Peercoin node announce a new block found by proof-of-stake? [closed]

Is the algorithm the same as it is in the case of proof-of-work?
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0answers
61 views

What role does stake play in finding a PoS block specifically? [closed]

How does staking more PPC increase one's chances of finding a valid PoS block?
3
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1answer
551 views

Peercoin proof-of-stake: When a person with large computing power and a person with a large stake both compete to generate a new block who wins?

In other words, if one user is trying to find a block using staked coins and another using PoW, which one will find it and why? Will there be a fork in the blockchain in this scenario? If yes, then ...
3
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1answer
423 views

What are some counter arguments for NXT (nxtcoin) "premine" or initial distribution setup? [closed]

Whenever someone brings up NXT (nxtcoin) as a topic, many people's first reaction is the initial distribution of how nxt was setup. Many consider this a "premine" event and see it as a potential ...
26
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4answers
16k views

What are the downsides of proof of stake?

I am very skeptical about the security of the proof of stake system. Is it really that secure? Are there no disadvantages?
9
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1answer
1k views

What are pros and cons of Tendermint?

The writer describes it as a "solution to the blockchain consensus problem that does not require mining." The white paper is viewable here: http://tendermint.com/docs/tendermint_v04.pdf I don't mean ...
9
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1answer
2k views

How can Blackcoin get 1st confirmation in 10 seconds?

According to it's official page, Blackcoin used scrypt as its Proof-of-Work during the phase of initial coins' creation. But now it's purely Proof-of-Stake, and they claim to have a speed of just 10 ...
3
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1answer
3k views

PoS (Proof of Stake) - Do you have to leave your wallet QT application open all the time to receive interest? mainly for the coin Philosopher stone

With the PoS (Proof of Stake) setup for the coin Philosopher Stone. Do I have to leave the QT client open all the time in order to receive interest? This coin is based of off PPCoin, so does it do the ...
-2
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1answer
175 views

Bitcoin related research areas [closed]

I have a one year research project in my MSc curriculum. So i was suppose to address a existing issue in bitcoin protocol. Highly appreciate if someone can advise me and give me some ideas. Thank you....
13
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2answers
3k views

What is Proof of Burn?

Can someone explain me: What is Proof of Burn What is the difference between Proof of Burn and Proof of Work How Proof of burn works Which virtual currency uses Proof of burn technology instead of ...
2
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2answers
156 views

History of cold boot attacks on Proof-of-Stake miners

Have instances of theft due to cold boot attacks been recorded? If so, is this a common problem? If so, are miners installing memory encryption software like Trezor?
31
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3answers
44k views

How does proof-of-stake "mining" work? [closed]

I know and understand the concept of proof-of-stake. Instead of requiring users to do a certain amount of power-intensive hashing "work", it requires you to own a certain stake of the currency in ...
4
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1answer
225 views

Does Proof of Stake Lead to a Positive Feedback Loop?

(I may have horribly misunderstood PoS, so be gentle!) Reading about PoS, the general idea seems to be that each miner has a "hit rate" proportional to their coins / total coins in the system. Now, ...
4
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2answers
384 views

How can I generate more coins while mining on PoS?

I couldn't find the specifics on how would one get more coins with PoS. I understand that with PoW one gets more coins by having more hashing power and running software like cgminer. With PoS, I ...
3
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1answer
2k views

Are all strategies to mine PPCoin Proof of Stake blocks equivalent?

Alice, Bob and Charlie each own 100 PPCoin, and would like to generate more using Proof of Stake. Alice keeps her ppcoind running all the time Bob stores them offline for a year, and then runs ...
2
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1answer
731 views

How to generate PPCoins using Proof of Stake?

PPCoins uses Proof of Stake (in addition to Proof of Work) to generate coins. Must the client be online for this generation to happen? Do PPCoins stored in any web wallets / exchanges generate coins ...
28
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1answer
12k views

What is proof-of-stake?

As we know one of the important mechanisms of Bitcoin is proof-of-work. How does the concept of proof-of-stake work? How does it differ from proof-of-work?
18
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3answers
5k views

Are there alternatives for proof of work?

Bitcoin uses proof of work to secure the network, Ripple uses a global consensus system and PPCoin uses proof of stake. Are there any known alternatives to the above methods?
4
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1answer
2k views

What is the key difference between the Proof of Activity proposal and Proof of Stake?

coblee (Litecoin creator) suggested a new Proof of Activity method, to complement Proof of Work, instead of using Proof of Stake (oh my!) Can someone provide a tl;dr of what is the key problem in PoS ...

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