Proof of Stake (PoS)
By CoinGecko | Updated on Mar 03, 2020
Initially designed to address the massive energy consumption. Rather than requiring miners / validators to spend resources on energy computational infrastructure, Proof of Stake is a consensus algoritm elects block validators to sign blocks based on the stake weight (an aggregate of how much token was staked and the length of time staked) of each validator.
Related Terms
Faucet
A faucet usually represents a site or app where a user can navigate to for small rewards repeated over time.
Gas
A unit of measurement of the computational effort in conducting transactions or smart contracts on Ethereum blockchain.
Total Supply
All the tokens and coins that will exist in a cryptocurrency network.
Variable Buy/Sell Tax
On-chain buy sell tax rate that is not fixed, whereby it is possible for contract owners to change at will.
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