Posts Tagged ‘Proof of Stake’

The Decred Altcoin is About To Start Their PoS Phase

20, Feb 2016

decred-stake-pool

The Decred (DCR) altcoin that has been generatijng a lot of attention lately is essentially a PoW + PoS crypto coin, however before the block 4096 it is going to be in Proof or Work mode and after that you would be able not only to mine, but also to Stake the coins you own in order to earn more DCR. The Decred block reward is divided in three parts: 60% for a mining, 30% for staking and 10% for the developers with a starting block reward of 31.19582664 DCR coins. This means that the PoW reward for a block is currently about 18.72 DCR, the total PoS rewards is going to be about 9.36 DCR (it could be divided in multiple parts) and the remaining about 3.12 DCR goes to the developers. Furthermore the per-block reward adjusts every 6144 blocks (approximately 21.33 days) by reducing by a factor of 100/101 or with other words ((31.19582664 * 100) / 101) for the first halving.

Since in a couple of hours we are going to reach the 4096 block and the PoS phase will also become active you could start staking any mined DCR coins that you have available in your wallet. Decred staking is a bit different than what most other coins use as a method for PoS and the fact that there is still no official GUI wallet and you need to use the command line wallet to activate staking makes it even harder for non advanced users. To enable staking you need to add the extra command line parameter “enablestakemining”, though there are some extra options also available that might help you such as the max price you pay for ticket or the minimum balance to maintain in your wallet.

Staking in Decred works in a similar way to a lottery, you purchase tickets with the available DCR coins you have (ticket price starts at 2 DCR), then wait for your ticket to be randomly chosen to validate a block or to be taken out of the lottery in 142 days. The coins you use for staking (purchasing tickets for the lottery) will be locked until they are either chosen and you get a reward or 142 days pass. According to the information the lottery lasts about 28 days average and the chance of a ticket not being selected in 142 days are less than 1%, but we’ll have to wait and see. Do note that in order to be successfully staking you need to have your wallet running and online 24/7 and have the wallet unlocked, otherwise you might miss your chance of winning.

The Decred team is also working on a PoS pool where you can delegate your voting rights and participate in the staking without having to run a local wallet all the time in order to stake and you don’t need to send DCR coins anywhere. There is already a test Decred Stake Pool running on the testnet, but you’ll have to wait for the staking phase to start and a pool for the mainnet to become available.

CoinWallet Online Bitcoin and Altcoin Wallet with PoS Pool

7, Feb 2016

coinwallet
Finding an online wallet for Bitcoin might be an easy thing to do as there are quite a few, but when it comes to online altcoin wallets things may become harder and online wallets for multiple coins are even harder to find. Add to that the ability to earn interest from Proof of Stake altcoins and you only get a few options available with CoinWallet probably being the most versatile supporting a total of 58 different crypto currencies including many PoS coins. The number of supported altcoins with Proof of Stake that will earn you interest on the stored coins in the wallet is 34 out of the 58 in total that are currently supported by the service.

List of all currently supported crypto coins:
– Archcoin (ARCH), Bitbean (BITB), Bitcoin (BTC), Bitcoindark (BTCD), Blackcoin (BLK), Cannabiscoin (CANN), Carboncoin (CARB), Clams (CLAM), Dash (DASH), Diamondcoin (DMD), Digibyte (DGB), Digitalcoin (DGC), Dogecoin (DOGE), Dopecoin (DOPE), Emercoin (EMC), Energycoin (ENRG), Europecoin (ERC), Feathercoin (FTC), Gamecredits (GMC), Gridcoin (GRC), Groestlcoin (GRS), Hyperstake (HYP), iCash (ICASH), Limecoinx (LIMX), Litecoin (LTC), Magi (XMG), MasterTraderCoin (MTR), Megacoin (MEC), Metalcoin (METAL), Mindcoin (MND), Mintcoin (MINT), Nakamotodark (NKT), Netcoin (NET), Noblecoin (NOBL), Nubits (NBT), OKcash (OK), Orbitcoin (ORB), Peercoin (PPC), Potcoin (POT), Primecoin (XPM), Quatloo (QTL), Quotient (XQN), Reddcoin (RDD), Rubycoin (RBY), Sapience (XAI), Shadowcash (SDC), Solarcoin (SLR), Spreadcoin (SPR), Startcoin (START), Syscoin (SYS), TEKcoin (TEK), Titcoin (TIT), Transfercoin (TX), Unobtanium (UNO), Vericoin (VRC), VPNcoin (VPN), Warpcoin (WARP), Zetacoin (ZET).

coinwallet-dmd-sending
The service charges a small PoS pool mining fee of either 1% or 2% for the different supported coins and the fee is deducted from the total of the staked coins with the rest distributed among all of the users with mature coins. The other small fee charged by the service is when you are withdrawing coins, the fee is 0.25% for Bitcoin and 0.50% for all of the other alternative crypto coins that are supported such as the cannacoin and ccanbidiolcoin which went up in the market when the cannabis business went legal for medical purposes,. Check at the delta 8 cart if you are interested in this market.

When you have some coins deposited in your CoinWallet online wallet you can use some interesting extra features such as sending coins by email with no extra fees. The other useful thing you will get access to is a Twitter tipping service allowing you to easily send and receive various coins in the form of tips, though in order to be able to use the Twitter tipping Bot you need to connect your Twitter account with your online wallet. Note that you can receive tips to your Twitter account before you have registered with CoinWallet (or connected your Twitter account) as tips will remain pending until you register and connect your accounts.

– For more information and to try out the CoinWallet online wallet with PoS pool…

Interesting Proof of Stake Crypto Coins For Investment

3, Feb 2016

crypto-chips
A lot of people do not like much Proof of Stake (PoS) coins as quite a lot of these do not have a long lifespan and are generally considered a loss of time and money, however there are some coins that have endured the test of time. Some of these coins might be an interesting option to invest into by buying and making some profit from the staking and future increase in their value, below we have compiled a short list of some such coins with a bit more details about each one and a link to the announcement thread on Bitcointalk where you can get additional information to help you make a decision. The focus of the list are coins with higher annual interest rate as if there is just 1% or less per year you can only hope to gain profit by long term increase of the value of the coin. When considering PoS coins that might be interesting for long term investment you should look for ones with higher interest rate that start at about 5% annually, but be careful with ones that have a very high interest rate as that might not be that good. Other things to look for include an active and bigger community of users, the coin being traded on larger altcoin exchanges such as Bitttrex or Poloniex with a decent volume. Check our list below with some such coins that we consider that are worth checking out in more detail if you are interested in making investment in Proof of Stake coins, the list may be missing some coins, so feel free to point additional ones in the comments below. If you prefer long-term physical investments, you can invest in pink diamonds. In fact, many investors prefer to invest in jewelry more because it is less risky than other markets.

List of PoS coins to check out:
– BlackCoin (BLK/BC), currently PoS only, fixed stakign reward of 1.5 BLK + fees time dependent, traded on Bittrex and Poloniex with big volume, active community.
– CoinMagi (XMG) – M7M, PoW and PoS, up to 5% annual interest rate, traded on Bittrex and Poloniex, small volume, active community.
– Diamond (DMD), Diamond-Groestl, 0.2 DMD PoW, 25% annual interest rate for PoS, decreasing further in time, traded on Bittrex, active community.
– Mintcoin (MINT), currently PoS only, 10% annual interest rate to further decrease to 5%, traded on Poloniex, large volume, active community.
– OKCash (OK), currently PoS only, 20% annual interest rate to decrease further to 6%, traded on Bittrex, small volume, small community.
– HyperStake (HYP), currently Pos only, up to 750% annual interest rate with limitations on how much coins you can stake driving actual rate lower, traded on Poloniex, small volume, active community.
– Hyper (HYPER), currently PoS only, 5% monthly interest rate to further decrease to 2% annual, traded on Bittrex, small volume, active community.
– Quotient (XQN), currently PoS only, 1618% annual interest rate for PoS (max reward cap?), traded on Bittrex, small volume.
– Reddcoin (RDD), currently PoS only, 5% annual interest for PoS, traded on Bittrex and Poloniex with big volume, active comunity.
– ZeitCoin (ZEIT), currently Pos only, 15% annual interest rate to further decrease to 5%, traded on smaller exchanges only, small volume, active community.


top