Why Buy BlackCoin and invest in Proof of Stake?
Blackcoin has a few very strong advantages going forwards against Bitcoin, Litecoin, and all the other Proof of Work coins. It's the developmental leader of Proof of Stake, which cuts out the middlemen of Proof of Work, the miners, allowing holders of the coins to do the work and receive the benefits of mining instead.
As can be seen in the bitcoin community at the moment, users and miners when separate can quite easily be at odds.
Another benefit of Proof of Stake is that it eliminates the competition for ever increasing processing power.
Essentially, in Proof of Work, the lottery of who records each block goes randomly to someone who's mining. It's a common misconception that PoW mining is meaningful work, it's random numbercrunching, it's purpose is to determine a random person to write each block in order to decentralize the network. Ironically the ever increasing competition in order to solve blocks has actually ultimately lead to the formation of pools, and the centralization of the network.
In Proof of Stake the number of tickets you have in the lottery of solving the next block is determined by how many coins you have staking. The probability of solving the next block is essentially however many coins you have staking over however many coins on the entire network are staking. As long as you stake you're actually beating inflation, which is a nice side effect of this method.
Proof of Stake is not only a more elegant solution than Proof of Work, but yields more benefits to those who use and hold the coins. Proof of Stake is also more scaleable, as blocktime is unrelated to security, and can simply be shortened to meet scaleabilty needs, something that Proof of Work cannot do.
What coins are in the system of Proof of Stake? Would you please give me some examples?
BlackCoin (BLK) is probably one of the most alive and stable PoS-only coins. Active development and a list of side-projects such as Black Halo for smart contracts (now to be included in Blackcoin core). Reward of 1.5BLK per block. They just updated their wallet to support faster transaction times, faster syncing for fullnodes (you need fullnode for staking) and, as said, smart contract support. They also published a whitepaper (PoS 2.0) and debate in their vivid community to improve PoS technology further.
CoinMagi (XMG) Hybrid PoW and PoS, which is better than pure PoW but still not as good as pure PoS since you still need PoW to secure the network. They are traded on Bittrex.
Mintcoin (MINT) Yes, they are still alive - somewhat. They been once prominent and very vivid but lost alot of this drive. They have a rather high annual interest rate. PoS only. Traded on Cryptonia. I am unsure if their wallet is still developed tho, would stay away as of now.
Nxt (NXT) PoS only with 0.05% annual interest. Build from scratch, active development, exchanges and community.
OKCash (OK) PoS only with a rather high 20% annual interest rate (if this is still true). Traded on Bittrex, small volume, small community. As with Mintcoin, it's not sure if a high interest rate won't rather damage the coin's value on the long run (higher inflation) and as with Mintcoin there been debates to lower the interest rate.
HyperStake (HYP) PoS only up to 750% annual interest rate which seems pretty high for me. Website dead so I can't check further on their annual interest rate and implementation of PoS. Dut still some volume on Cryptopia.
Peercoin (PPC) Hybrid of PoW and PoS. Was actually the first coin who introduced the idea of PoS in a whitepaper, but keeps dependent on PoW for Blockchain-anchoring called process. Traded on many exchanges and different PPC/Crypto and PPC/fiat pairs.
Reddcoin (RDD) Has their own PoS variant called PoSV ("Proof of Stake Velocity") with a 5% annual interest. Traded on Bittrex. Website active.
ZeitCoin (ZEIT) PoS only. Very tiny marketcap of 2m.
BlackCoin , Nxt , Ethereum (Mining still active) , DASH (Masternode thing and mining hybrid)
BlackCoin was the first Pure Proof of stake coin and is created on Feb 2014 , right now the Dev Janko released a lore wallet which raised the transaction speed (which is already lightning fast) . And our fees are abnormally low compared to bitcoin.
Oh and you get 5% interest on your coins
Any reply would be incomplete. I would suggest going to Cryptocompare for a list of all coins then changing the 'Proof Type' filter to 'PoS' and then 'PoW/PoS'. There are a LOT of coins in these categories.
I might be late to the party but EMBERcoin (EMB) gives out 720% annually. I have had it for almost a month and have accrued atleast 10x on my original investment because the total staking weight was only at 25% of the total supply... so we were seeing daily rewards at 10-20% of our current total coins! People are starting to find out about it now but give it a look.
There are active devs updating the wallet and I think they want to add masternodes (which I don't agree with). They are active in the discord chat. I would start out with atleast 5 million coins to have a good weight.
Note: There is an issue with the peers data file but the discord chat has the fix listed out (hence some of the upcoming wallet updates). Very easy.
Site: Embercoin.io
Discord: https://discord.gg/xHvUbp
Buy: https://www.cryptopia.co.nz/Exchange/?market=EMB_BTC
It's also worth noting that Ethereum is going to proof of stake!
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