At the same time with the increasing popularity of virtual currencies has begun to upgrade the algorithms of consensus. Thus, initially, almost all cryptocurrencies used the algorithm Proof of Work. In its application, the production of virtual currency was carried out with the help of high computing power. This eventually led to the fact that the maximum transaction capacity in the Bitcoin network decreased to 7 operations per second, and the cost of their execution increased to almost 50 us dollars. Moreover, the volume of energy consumed annually for cryptocurrency mining increased to 42 TWh, which is comparable to The volume of electricity consumption in new Zealand. All this indicates problems in the algorithm Proof of Work, which include:
- limited scalability;
- low efficiency;
- high energy consumption.
To solve all the problems of the original algorithm, a new algorithm Proof of Stake was developed, which most popular cryptocurrencies, including Ethereum, plan to switch to in 2018-2019. The principle of this algorithm is that the more certain cryptocurrency the owner of the assets, the higher the probability of creating a block in the Blockchain. In other words, this method is more economical.
In connection with the popularization of the PoS algorithm, it was decided to create a specialized pool of Stake.
Project objective
The main goal of the developers is to create a decentralized ecosystem that allows to extract virtual currency using stacking.
Principle of operation
To work on the Pool of Stake platform, the user must purchase PoS coins, which he prefers, after which he will have the opportunity to participate in the work of the platform. For further interaction with the platform, the client needs to transfer his coins to a specially formed address – node of the pool, after which he will be provided with specialized KEY tokens by means of a smart contract. These coins are from the one hand they are a confirmation of investments, and on the other hand, a method of obtaining income. Investors ' profits will accrue at 23:59:59 Central European summer time (UTC+2).
To make a profit, the user must confirm his rights with the KEY token, which after processing by the smart contract will provide a reward for staking coins. The processing time of the request for funds can be up to 24 hours. It is worth paying attention to the fact that the withdrawal is made directly to the user's wallet.
It is important to pay attention to the fact that unlike an ordinary node Proof of Stake, pool of Stake nodes can consist of many small pools at the same time, which allows even investors with small amounts of cryptocurrency to receive income.The second token of the platform will be PSK. This coin will allow users to receive discounts when removing fees. Unlike the KEY coin, the PSK token can be traded within the platform.It will be possible to buy PSK coins during the ICO.
LEAVE THINGS THAT CAN NOT BE DONE FOR YOU.
The next miner who creates the next block will receive all the transaction costs and the gift of the block itself, so 12.5+ Bitcoin.In the PoS method, blockchain does not have a reward block. Only transaction fees. It also causes customers in blockchain PoS should be called a validator, not a miner. They only facilitate the transaction process without mining activities such as PoW
POOL OF ICO DETAILED STAKE
- Category: Cryptocurrency, Infrastructure, Mining, Platforms & Ecosystems
- Country: Switzerland
- ICO Date: 2018-05-02 / 2018-06-03
- Ends in: 44 days
POOL OF RATING RISE
- icorating.com (Risk): NOT INCREASED
- icobench.com:4.0 / 5
- icobazaar.com:TBAtrackico.io:4.3 / 5foxico.com:6.0 / 10
- icomarks.com:5.7 / 10
- icostock 24.com: 3.9 / 5
POOL OF STAKE is a good ICO program.
Think business is pretty fantastic. It attracts people in general.Experienced and skilled cooperation to achieve.We can build the ability to achieve goals.Finally, what I can say is the tremendous potential of this company. The ICO is very striking. This is a great open road to include the ICO world.If you know how to improve our community.If you know how to polish information about us in this world.If you have any ideas for improvement, it is a privilegeIf you are all from our distance.
Team
Roadmap
Conclusion
Due to the growing popularity of PoS-algorithm, creating a pool for its use is a timely and promising idea. And, given the fact that, unlike traditional PoS-pools, it will be able to earn even users with a small amount of tokens, it will be able to attract a multi-million audience.
For More Information
WEBSITE: https://www.poolofstake.io
TELEGRAM: https://telegram.me/poolofstake
WHITEPAPER: https://www.poolofstake.io/wp-content/uploads/2017/12/PoolofStake-whitepaper_ENG_V13-3.pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=3283742.0
FACEBOOK: https://www.facebook.com/poolofstake
TWITTER: https://twitter.com/poolofstake
MEDIUM: https://medium.com/@poolofstake
LINKEDIN: https://www.linkedin.com/company/pool-of-stake/
YOUTUBE:https://www.youtube.com/channel/UCenEbx5MwCF7kjTAWU-jv_g?
GITHUB: https://github.com/poolofstake/PSK
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