JAHM Proof of Stake Is Now Live
That's right everyone, JAHM and ReggaeSteem are one of the few SCOTbot tokens to bring PoS to life on the STEEM Blockchain. Proof of Stake essentially validates and rewards users for "staking" their tokens - an action of locking these tokens to the network. Proof of Stake from that point pays interest to users that have their tokens locked or "staked" without any extra work involved. The algorithm - a diverse functionality of SCOT bot - works behind the scene to validate the blocks in a fashion which rewards users that have any staked JAHM at all. Everyone who has at least some staked JAHM will eventually receive airdropped tokens created from the blockchain as more and more blocks are validated over time. The more staked JAHM you have the more airdropped tokens you will receive, so keep stacking that JAHM! The airdrop will remain active until 100 million JAHM have been printed, released and distributed.
Image courtesy of @whatsthatcryptom
Instead of classic crypto mining where miners work to crack cryptography and verify transactions, PoS allows for those who put the most trust and faith to the test through sustainable and long-term growth via PoS as every new block is created. The math is quite epic and the team, with the help of the talented behind steem-engine @aggroed, @yabamatt, and @harpagon (also a special thanks to @eonwarped), worked extremely hard behind the scene to come up with the most irie returns for those holding JAHMpow. Our guy, or should I say cat, @crypticat, posted an article about a week ago explaining the math behind JAHM PoS.
Proof of Stake is just another accolade that ReggaeSteem has added to their resume. As the resume continues to build, so will all of our wallets, and so will the entire community putting faith in a project that is putting words and ideas into action.
So, as I sit here right now earning FREE JAHM for staking, I continue to get closer and closer to the coveted JAHM Stake-N-Stay token (JSNS). ReggaeSteem is also the first to offer tokenized vacation packages for staking your hard earned JAHM. By staking 100k JAHM tokens, you may become eligible for a JSNS (*terms and conditions apply).
If you stake 100k, JSNS holders may redeem a vacation (once) per year. The new year begins after the last vacation was redeemed. Currently there are two options available:
- JSNS members can trade in 1 (one) JSNS token for a 3-day stay, or;
- 5 JSNS Tokens for a 5-day stay in Jamaica
ReggaeSteem members can choose from the available list of hotels/resorts on ReggaeSteem's website
Read the JAHM Stake-N-Stay explainer in full detail here
As ReggaeSteem continues to shape and transform the way this specialized STEEM interface operates through harnessing major market sectors of Jamaica's growing economy, we shall continue to see the growth potential rise. In my personal opinion, ReggaeSteem and JAHM are poised for growth leading into the future. For now, we stay JAHMin'
**Disclosure: Please note that none of the information in this article is meant to be taken as financial advice. Investing is a risky business and only invest once you have done your own personal research regarding ReggaeSteem.
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