Generate Proof of Stake Prizes with Cobo Wallet

 
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Cobo is a wallet based on Proof of Stake (POS) and Masternodes that can be used as a new payment method or exchange of goods and services. Through the application available for Android and iOS devices.

What is Proof of Stakes (PoS)?

Proof-of-Stake (PoS) is an alternative Proof-of-Work (PoW) method in cryptocurrency mining. Like PoW, PoS aims to reach consensus and avoid cases of Double Expenditures in Cryptocurrency transactions. Unlike PoW, this method does not require a code-breaking process in making blocks, but rather based on the percentage of coins that already exist. The greater the number of coins a Miner has, the more coins he can get.

Why are PoS in demand as supporters of blockchain development?

One reason that makes sense is because it saves energy and does not require miners like the PoW concept.

The number of blockchains can be more than doubled, and the same thing happens to the number of miners who are increasing in number.

How to Work Stake Proof:

The way Work Proof of Stake is different from Proof of Work. Where PoW users must validate transactions and create new blocks in a computational way. But in the PoS system, each coin holder must show proof of ownership of the crypto to get a prize.

In PoS, creating a new block is chosen by a pseudo random method that depends on the number of coins, called Stake. Proof of the system in the block is called Forged or Printed. So, in PoS there is no term being mined, validating transactions and creating new blocks by Forge.

PoS users, they are called forgers (forgiving coins) will receive transaction fees as gifts. To validate transactions and make blocks, counterfeiters must put their coins on the stake. After forging a coin, they will get a part of the coin in the forging process. This is called an incentive in the Proof of Stake method.

The work system for making PoS coins is determined based on the account balance. The greater the account balance used to risk coins, the greater the chance to get a part of fake income. But to limit monopoly, especially for users who have more coins, a random method has been created. This method is made very unique with the combination of the lowest hash value and account balance, it will be used as the next coin printer.

     PoS, Masternode and Wallet:

The essence of the stability of the Cobo Wallet is the Proof of Pegs and Masternodes that can be used through custom-made wallets. The use of darksend technology allows high anonymity transactions thanks to a special algorithm that combines the funds sent.

Having a number of cryptocurrency in your wallet can give you a decent gift at stake. You must unlock your wallet and keep opening it for this sole purpose. Prize bets range up to 200%.

How to get a prize?

RUN

The right number of prizes is influenced by three factors and can change every week. These three factors are:

1. Number of masternodes in DASH tissue: The more the number of masternodes, the fewer awards that are generated each masternode.

2. DASH network traffic: the more traffic (more blocks are mined in a certain period), the more rewards generated each masternode

3. The amount of DASH you have in your gift wallet: Cobo has a multi-bucket gift level policy, which means the more DASH you deposit, the higher the level of rewards you will get. Multi-bucket is roughly divided as follows:

≥ 1000 DASH

880 – 999 DASH

500 – 879 DASH

200 – 499 DASH

1 – 199 DASH (Cobo only requires a minimum deposit of 0.1 for you to get a DASH prize. Usually, to prepare DASH Masternode, the user must lock as many as 1000 DASH)

These factors are dynamics. The award rate changes from minute to minute because the above factors change. You can check the estimated level of DASH rewards and masternode statistics from this link: https://cobo.com/pos/dash.

LBTC:

1. The system will automatically pay prizes that have exceeded the value of 0.1 LBTC.

2. The number of prizes that do not meet the 0.1 LBTC threshold will be rolled into the next cycle.

3. Cobo pool only imposes a management fee of 7.5% when choosing Cobo nodes.

4. New Cobo Wallet users who deposit LBTC will enjoy the best prize level available (Cobo will only charge 5% management fees).

XZC:

The right number of prizes is influenced by three factors and can change every week. These three factors are:

1. Number of masternodes in XZC tissue: The more the number of masternodes, the fewer awards that are generated per masternode.

2. XZC network traffic: the more traffic (more blocks are mined in a certain period), the more rewards generated each masternode.

3. The amount of XZC that you have in a gift wallet: Cobo has a multi-bucket gift level policy, that means the more XZC you deposit, the higher the level of rewards you will get. Multi-bucket is roughly divided as follows:

≥ 1000 XZC

880 – 999 XZC

500 – 879 XZC

200 – 499 XZC

0.1 – 199 XZC (Cobo only requires a minimum deposit of 0.1 for you to get an XZC prize. Normally, to set ZNode, the user must lock 1000 XZC to set one)

These factors are dynamics. The award rate changes from minute to minute because the above factors change. You can check the estimated level of Zcoin rewards and masternode statistics from this link: https://cobo.com/pos/xzc.

FOR FURTHER INFORMATION PLEASE VISIT THE SITE BELOW:

http://cobo.com/

https://www.linkedin.com/company/coboofficial

https://www.facebook.com/coboOfficial

https://t.me/cobowallet

https://medium.com/cobowallet

https://www.youtube.com/channel/UC4pPHVxoBYQubw19zL9tu-A/videos

https://cobo.com/blog

Author: johnthedon

BitcoinTalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1860087

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