Staking is another form of mining and is surprisingly close to what steem here offers which is called a DPOS(Delegated Proof-of-Stake) Where we vote on witnesses and only they mine the transactions.
With a POS (Proof-of-stake) system anyone that holds coins in a wallet that is unlocked can mine coins as long as they meet the following.
- Hold enough coins in an open wallet
- Connected to the internet
- Synced with the network
What happens then is the system randomly picks a wallet to mine the block. The more coins you have the higher the chance you could be picked.
The downfall of this is in most cases you need a large amount of coins in order to be lucky enough to be picked. However there are systems out there which pool stacking power which I am currently using one called BTCPOP
The current coins I am staking are as follows...
- ReddCoin
- Stratis
- Pivx
- Potcoin
- Navcoin
- Blackcoin
- Working on masternode for DIVI
- BRO - This one is actually pretty cool and ill go into some details of it below.
Aright so BRO is a POS coin that is earned by listening to the radio!
It actually very easy and then I just depots the coins into my BTCPOP account so they can start staking to earn more. As of writing this BROs value is at just a little over $0.12 each.
You can join BRO and start listening to the radio by clicking on my affiliate link here BRO Radio
*Screenshot taken from coinmarketcap.com
With that said that should about wrap up this update. As I get more into setting up the masternode for DIVI ill post more details on how to do so as so far its taken me all weekend just to transfer tokens of it securely! lol DIVI is a very interesting project and one of the few I see really taking off once launched so stay tuned for those updates as I setup my own master node! After this I will most likely be moving into Steem and other DPOS systems as SMTs come out.
Have an awesome day and stay fresh, keep learning and keep striving.
I really like POS coins, but DPoS might have problems down the line as block producers start bribing the voters. DPoS has a political component that could be exploited in various ways.
BRO seems interesting though. Never heard of until now.
Yeah I kind of don't like DPOS either it seems centralized the more I read up on it, If you hold coins in an open wallet you should be able to stake and make it an even playing field I like POS over DPOS as there is no limit besides what you invest in.
Bro seems to have been around for a while but I just found out about it last night.
You can learn how Eos are approaching this, if you learn the differences between Eos and Cardano. (YouTube)
BTCPOP is the best. Great place to start earning more on your Cryptocurrencies. Also the easiest way to earn staking payments. No need for multiple wallets, passwords, seeds, hardware, etc.
yes however like any exchange etc dont put your life savings in it as you cant control you wallets there
This is really amazing, if you cant mine on steem since you're not a witness you can try this other option out and get some cryptos. Aside the obvious fact that you have to have much coin in your wallet i think you also need a powerful system to mine
knowledgeable post to all.go ahead.keep shring.hope people will be learning many things on this.go on
Thanks for sharing information about the BRO coin, from the name of it i think i like it already, i will do more findings and follow your link, thanks for sharing
Thanks for sharing such a great treasure. It's through your sharing that we learn something new to make it part of one of our achievements of the day.
flooded with relevant information. Thanks
Really a great post . Everything have to know this . I am pleased of you brother.
You have said all, one needs a large amount of coins before he or she will be fortunate enough to be selected.
It made a lot of sense, save for the stacking up of large amount of coins. Thanks for sharing, meanwhile do not forget to inform us when things change to suit my type of category sir.
good post keep it up..
hello good post
Good job, greetings!
I heard of bitradio before but the project never more revenue stream to gain more in value.
cool danke
das ist doch mal der Hammer
Spitzenmäßig
Danke
This is really amazing. Great place to start earning more on your cryptocurrencies.
Wait! If you have any these coins then you can get rewarded right? If it's so then l'm gonna buy them all.