The premium means of verifying and confirming the transaction of Bitcoin, known as work proof , in which one should solve mathematical puzzles with the help of its processing power (hashrates), before the block of transactions is added to a blockchain, the above process refers to mining and people, my hot miners. The process allows the generation of new coins.
The observation showed that the power consumed by the hash rate was too high and will continue to increase as the total hashrate in the platform continues to grow.
After much research, an alternative method was discovered that was energy efficient and efficient, and was first used by namecoin in 2012. This method of confirming and verifying the transaction has been known as proof of use , where you need to lock some coins in your personal wallet account, stay connected and validate transactions that reward you with transaction fees. No new coins will be generated.
Proof of the bet can be considered as mining 2.0 and some top coins use this method to verify and confirm the transaction on their blockchain, examples being PIVX, NEO, LISK, ARK, DASH and more.
POS (Pile detection) was adopted as a new mining methodology (verification and confirmation of the transaction on Blockchain) as less energy (electricity) is compared to the demonstration of the working mechanism and does not require a large amount of money to build and maintain.
Pool in Cryptocurrency Mining, to put simply, is people who mine their mining resources together and share the reward among themselves. Pool of stake becomes the first decentralized pool for the detection of piles, where people can come together to put their POS coins with Smart Contract and get the maximum profit.
Pool of pile is a method to put a new block within a blockchain base on the weight of the staked coin. The next validator of the new block is randomly determined by an algorithm, and the validator is rewarded with transaction fees, and in this case no new coins are generated.
Advantages of PoS over PoW
- Security: It’s safe compared to PoW
- It has a reduced risk of centralization
- It has energy efficient
Challenges faced by the pile detection, which pile to solve here:
- The node must be online around the clock to be able to mine what is impossible in the home environment.
- The weight of a single coin determines the likelihood of being a transaction examiner, which is a serious problem for small miners. The higher the stake, the higher the chance of being the next validator and being rewarded.
Solving the challenges
- PSK acts as a knot that allows small validators to band together, work together to create a much higher network weight, and collect more Forgings / Mining 2.0 rewards.
- PSK services allow pool members to put their coins with PSK and permanently generate a residual income for themselves with the Forgotten Rewards.
Pool of stake services
- Give users the ability to check the state of the pool and the rewards they collect at all times, and to protect users’ privacy
- The stake platform pool uses an intelligent database that allows them to check the total amount of coins held by the pool and the premiums generated as a whole to check the correctness of their individual premiums
- Pool of Stake’s smart io database shows the performance of various PoS coins that allow the member to track the so rewarding coin.
- The PSK platform will include a communication tool so that PSK members can communicate with each other, make suggestions to the community, and vote on important decisions.
Like Pool of Stake Work
The Stake Ecosystem Pool works with intelligent contracts that make it decentralized in nature. It has two important tokens that are used in the ecosystem:
- PSK tokens: This is a utility token that allows users to get discounts on any withdrawal fee. This PSK token will be for sale during the ICO on Ethereum Blockchain.
IOU tokens: This is only used on the PSK platform to claim ownership of POS coins. It can not be exchanged or traded between members.
PSK Token is simply a form of payment that PSK SA will accept on the PSK SA Platform
PSK has carried out seed funding, with early adopters investing € 750,000. This allowed the PSK team to reach fundamental milestones and prepare for an ICO.
The first sale starts on May 2, 2018 (in a certain block) at around 12:00 CE (S) T and runs until June 3, 2018 at 8:00 pm CE (S) T or until the hardcap of 8 Mio € is reached
Minimum investment 0.1 ETH
Soft Cap 2,000,000 EUR
Hard Cap 8,000,000 EUR
For more information, see:
WEBSITE: Home – Pool of Stake
ANN THREAD: [ANN] [ICO] Pool of Stake – Pool for detection of blockchains.
TELEGRAM: Telegram Web
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