Proof of Stake (PoS)

What does Proof of Stake (PoS) means?

A short form of Proof of Stake. It’s a newer consensus relative to Proof of Work. And it helps validate transactions on the blockchain, keeping the system transparent, secure, and safe. The provision in a PoS ensures the creation of new blocks after block verification by other parties based on their stake size. Any invalidation leads to a loss (either all or part) of their stakes. The miners in this instance also get rewards for participating in the validation.

Examples

Examples of blockchains that use PoS include:

Solana
Polkadot
Avalanche

Random Slangs

Farm

A farm in crypto is a hip of staked tokens where investors take their rewards. These staked tokens are results of farming, a process of

Miner

An individual who participates in crypto mining. Miners use high-performant GPUs, as the process requires high computing power as more miners join the mining process.

Moonboy

Someone that keeps believing in an NFT project or cryptocurrency despite its failure or drop in value. Typically, someone can become “Moonboy” if they keep

BSC

An acronym for “Binance Smart Chain.” BSC is a protocol that makes the Binance Chain interoperable and programmable. Hence, other resources can communicate with it.

Volatility

It defines the rate of fluctuation (drop and rise in the worth) of an NFT project or crypto over time. Unlike fiat currencies, cryptocurrencies and