Pool of Stake (PSK) is the first decentralized pool for proving bets, the future of blockade. Qtum, BOScoin, Tezos and other PoS coins their holders can team up in the PSK and start Mining 2.0, generating daily rewards by simply betting their PoS coins
The main difference between the proof-of-stake (PoS) algorithm and the proof of work(PoW) algorithm for the generation of new units of a cryptocurrency is in the model of how the next block is mined in the blockchain. The proof of work system of mining involves using high computational power from CPU and GPU. Initially, home PC’s were sufficient to mine bitcoins; the first cryptocurrency, but the increase in the network hashing power resulted in an increase in the needed computational power resulting in the difficulty in mining. As a result, highly developed and professional mining pools with mining farms came into existence.
Advantages of Project :
Proof of Stake is a consensus algorithm employed by many cryptocurrencies. The proof of work algorithm is unsustainable and has problems that compromise decentralization. These key problems with the proof of work algorithm include the high energy consumption rate and the limited scalability which results in the inefficiency of the mining system. Moving into the future and foreseeing the inherent danger and unsustainability in the continual use of the proof of work algorithm, the Proof of Stake which is a fully decentralized, self-regulated and fully trustless pool was created. The Pool of Stake Solution
Pool of Stake which is even made more powerful by the use of globally distributed nodes and smart contracts where holders can unite in the Pool of Stake and start Mining 2.0 and also generate daily forging rewards by just staking their Pool of Stake coins. The idea is to make mining more, less stressful, more efficient and profitable for individual proof of stakeholders and to make sure that small miners who come together to mine in the pool of stake are rewarded in the proof of stake system.
To this effect, the use of an ERC-20 PSK utility token and also an IOU token was developed, making sure that PSK platform members are always in full control and have unrestricted access to their staked coins. As the bitcoin network grows larger in size, highly professional, sophisticated mining pool became needed for mining of bitcoin. Mining 2.0 bitcoin
Research shows that the majority of bitcoin nodes are in data centers and this has greatly compromised the proof of work protocol. This kind of centralized mining pools are a great risk to the blockchain community.
The underlining importance of the pool of stake method is that it solves many of these problems and allows pools to be truly decentralized. Instead of mining in proof of stake method, there is validation, forge mining or mining 2.0 which is done by the validators. The next block is proposed on and chosen by a set of randomly chosen validators. The voting power of each validator is dependent on weight (staked amount) which means that PoS miners only validate transactions and do not mine new coins. The key features of the pool of stake method are its high security, reduced centralization risk and efficient energy management. This principle indicates that small miners can earn more fees. The proof of stake principle is designed in such a way that chances of data validation are a function of its weight. Validators with higher weights get more chances to forge and earn more transaction fees. The reasons for the creation of the proof of stake is validated and as such small validators can join together to create a much bigger network weight and also gaining large mining rewards. A stringent system is designed in the PSK system to prevent malicious attacks and make them detestable.
The reward system is calculated every night and it is always proportional to the amount of staked coins. Withdrawing the amount of staked coin can be done at no cost but that of rewards would always incur a fee. PSK would allocate 5% of the income to pay GAS utilized to send IOU back to the users and rebuy PSK token back. The burning of tokens would be done to deflate tokens and increase its future potential and proof of burn would be used to validate the status of the token if burnt. The system of governance in the platform is not tyrannical and security of token is of high priority. Token and Token sale/ICO
The Pool of Stake token, PSK is the native cryptocurrency of the Pool of Stake solution and it is being offered to the public through an initial coin offering exercise. More details on the exercise can be found at Proof of Stake ICO
Token and ICO Details
Exchange Rate: 1 PSK= 0.30 EUROS
Soft Cap: 2 000 000 EUROS
Hard Cap: 8 000 000 EUROS
Accepted Currencies: USD ETH, CHF, and EURO
So I suggest friends to join Pool of Stake , because it’s a very good project, a clear future, a great team, good idea. Of course I am sure with the success of this project so make friends no need to hesitate to join this project. Because by joining this project friends have been waiting for great success. So join it.Thank you for the time when there are more or less I apologize profusely.
WEBSITE : https://www.poolofstake.io/
Bitcointalk ANN : https://bitcointalk.org/index.php?topic=3283742.0
TWITTER : https://twitter.com/poolofstake
WHITE PAPER : https://www.poolofstake.io/wp-content/uploads/2018/04/Pool_of_Stake_whitepaper.pdf
TELEGRAM : https://web.telegram.org/#/im?p=@poolofstake
FACEBOOK : https://www.facebook.com/poolofstake