Notes

List Of Top 10 Proof Of Stake Cryptocurrencies

Let's first be clear about the concepts. !



What is proof of stake?



It is a method to mine or verify transactions in a block. It depends on how many coins someone has. This means that the miner has more mining power the more cryptocurrency he/she owns. In the proof of stake system, there is no block reward, so the miners take transaction fees. The Proof of stake currencies can have several thousand times the cost effectiveness of Proof of work currencies.



Peercoin, the first cryptocurrency to adopt this proof of stake method, was followed by Nxt Blockcoin, Shadowcoin and Blockcoin soon after Peercoin.



Why should you choose proof-of–stake coins instead?



Proof of Work (POW), which is a mining system, requires a large amount of computation to run multiple cryptographic. This power then leads to high amounts of electricity. In 2015 one bitcoin transaction required the amount of electricity that would power 1.57 American households per night. To kick out that electricity bill, miners sell their awarded coins for fiat money. This reduces the price for cryptocurrency. This is why ProofofStake was created.



These days there are hundreds of cryptocurrencies using Proof of stake system. Here are some of the top ten cryptocurrencies.



1. DASH



Dash is one the most well-known cryptocurrency. Digital cash is what Dash is commonly known for. It is the first to use proof of stake technology. It is built on the core bitcoin platform or system but Digital cash has the additional function of privacy and quick transaction such as InstantSend and PrivateSend.



Digital cash lets its holders run a masternode to receive dividends in the shape of a dash. Also, they can stake a minimum 1000 DASH. A minimum investment of $1,110,000 is required to acquire one dash token.



It has an annual return of 7.5% plus the price appreciation reward of DASH.



2. NEO



NEO is China's first open-source blockchain project. It uses a delegated Byzantine Fail Tolerance (dBFT). A stake of at least 1,000 NEO is required, which would be an investment of $87,000. The current price is $87.



[image credit: neo.org]



These stakes are eligible for GAS, which is completely different from cryptocurrency tokens. GAS has a market capitalization in excess of $319 million and a value above $34.



GAS is generated based on how much coin you have. GAS is created every 5 minutes. A 5.5% annual return is possible.



3. PIVX



PIVX means Private Instant Verified Transaction. It is a Proof of Stake (POS) that focus on privacy and security while ongoing transaction. PIVX was forked out of DASH in 2016.



[image credit: pivx.org]



PIVX is a stake that requires 10,000 PIVX unit. Which you have to an investment of $110,000 and value of one unit is 11.23. You can earn about of 4.8% in an annual return. This DIY guide will help you set up a master service or master node.



4. LISK



It uses a custom Proof of Stake also known as DPoS or delegated Proof of Stake. Only 101 delegates are able to stake coins, the delegates are voted on a rolling basis by the community. Anyone can register a delegate and that account can collect votes for any coin holder. 1 LSK equals 1 vote. Every coin holder can vote with the entire amount in his account. Voting is dynamic. Those who don't receive a vote are listed on standby.



[image credit: https://lisk.io]



The more amount of LISK is in your wallet, the more you will earn. It uses JavaScript instead of Solidity and it is similar to Ethereum.



5. OkCash



OkCash launched in 2014 and it is another Proof of Stake. It offers a 10% annual return and is the best option. You need to move OkCash coins into a staking wallet and it will start earning. OkCash is a fast currency that can be used to make microtransactions.



[image credit: http://okcash.io/]



There is no limit to the amount that can be put at stake.



6. NAV Coin



NAV Coin is the first cryptocurrency to have a dual blockchain for private transactions. It is based on core bitcoin code, and it takes just 30 seconds to complete transactions.



[image credit: https://navcoin.org/]



40% of the 62M NAV is used for staking so that it generates 1.24M NAV per year, NAV coin offer up to 5% annual return.



7. STRATIS



It is a blockchain-based platform that simplifies the development, testing, deployment, and maintenance of C# applications using the.NET framework.



[image credit: stratisplatform.com]



STRAT, a native token of Stratis, can be staked in a Stratis account to earn rewards. Profit is much lower than the profit earned by another cryptocurrency, which ranges from 0.5 to 1% per year.



8. EXPLORER REDDCOIN



Reddcoin can be used to tip on social media platforms. Reddcoin allows users to tip any content they like on different social media platforms.



[image credit: www.reddcoin.com]



Reddcoin can be staked using Proof of stake cryptocurrency Reddcoin in a wallet that gives an approximately 5% return to owner/holder



Reddcoin also uses proofs of stake velocity to encourage both ownership (Stake), and activity (Velocity).



9. ETHEREUM and PoS



Ethereum is one of the popular cryptocurrency has been using Proof of Work. It is also one of the earliest cryptocurrency projects to have considered PoS.



[image credit: ethereum.org]



As per the statement made in December 2017, they had implemented Casper, an update to initiate Proof of Stake evolution and the announcement said Casper will soon be available on the Testnet.



10. DIVII and NXT



Divi - has a market cap of $ 16.77M and uses a 5-tiered master system with the first level requiring a 1,000 investment. DIVI requires a $2,490 investment as its current price at $2.72 is $2.72



[image credit: diviproject]



NXT - To stake a stake, you must have at least 1000 coins. At $0.64, the investment would be approximately $640.



[image credit: nxtplatform.org]



There are many other Proof-of-stake cryptocurrencies in the market but these are the most popular ones. The other cryptocurrencies include Omni, BitcoinDark, BitShares, Blocknet, CLAMS, Cloakcoin, Crowns, Diamond, Elastic, Factom, and GridCoin.



This technique is one of the smartest ways to earn passive income. There are many currencies that have low entry barriers.



It's true that investing in cryptocurrencies only, won't make you richer but 1% to 5% earning is not bad at all for literally doing nothing and just keeping your wallet open. Because there is ZERO interest, it is more profitable to stake in countries like the USA.


My Website: https://crypto-explorer.net/