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Top 10 Proof Of Stake Cryptocurrencies In 2018

Top 10 Proof Of Stake Cryptocurrencies In 2018

Proof of Stake is a concept developed by early cryptocurrency innovators such as Hal Finney and Adam Back. It's a newer (and some think better) method of achieving consensus among distributed parties in a cryptocurrency network. Staking is where coin holders put their coins in a PoS compatible cryptocurrency wallet. It is equal to or has the same effects as mining in Proof of Work systems but the miners do not expend exhorbitant amounts of computing power and efforts, so it's considered an eco-friendly alternative. Instead of coins being minded, they are "minted" and distributed much in the same way. Other than saving holders electricity and the purchase of expensive mining equipment, PoS avoids centralization of network power in the hands of few individuals, companies, and mining conglomerates, which is one of the biggest problems of Bitcoin. Today, there are hundreds of cryptocurrencies using the PoS technique. Below are some of the best cryptocurrencies using PoS. Divi -- is the inventor of a novel 5-tiered masternode system, with the first level requiring investment of 1,000 DIVI. This means a masternode holder needs an investment of only $2,490 since the current price is $2.49 as at the time of this writing. Divi is also working a super-user-friendly wallet that geared for mass adoption. This is the type of cryptocurrency in which it's good to buy a masternode early. Plus, their masternode calculator shows 60-100% annual rewards. Digital Cash is one of the pioneers of the Proof of Stake algorithm and built on the core Bitcoin platform or system, but with additional privacy and quick transaction features such as PrivateSend and InstantSend. Holders of Dash can stake a minimum of 1,000 DASH and run a masternode to earn dividends in form of DASH. That requires an inv Continue reading >>

Ethereum Price Analysis - Immediate Upside Likely

Ethereum Price Analysis - Immediate Upside Likely

Ethereum Price Analysis - Immediate upside likely Josh Olszewicz , 28 Sep 2017 - Ethereum , Opinion , Price Analysis Ethereum ( ETH ) now has a US$29 billion market capitalization , second only to Bitcoins US$69 billion. ETH is also the second highest trading digital cryptocurrency or asset by volume, below Bitcoin and above Ripple . ETH has had a wild ride this month, dropping from all-time highs around US$400 to US$200. The cryptocurrency has since rallied and currently trades around US$300. Unlike Bitcoin, Ethereum is not deflationary and currently has no maximum total. In order to slow inflationary pressures, the Ethereum developers have programmed specific changes in difficulty, while trying to avoid any major disruption in the network itself. With the upcoming Metropolis hard fork, Ethereum will begin switching from a pure Proof of Work consensus protocol to a hybrid Proof of Work and Proof of Stake protocol, with Casper Stage 1 . At the same time, there have been changes to the difficulty adjustment scheme so that each difficulty increase occurs exponentially. As difficulty has increased, so have block times. Blocks are currently generated in just under 30 seconds. There have also been proposed changes to decrease the block reward, from 5 ETH to 3 ETH. Mining will eventually become impossible, which is the desired result for the Ethereum development team, resulting in a pure PoS consensus protocol. Vitalik has said that an implied minimum of 1000-4000 ETH will be required to earn stake rewards when PoS is fully implemented, which is comparable to the cost of a DASH Masternode. This is due to Gas transaction costs, which may change in the future. However, PoS rewards can also be acquired through a staking pool. The difficulty and block time increases mean that le Continue reading >>

Beginner's Guide To Ethereum Casper Hardfork: What You Need To Know

Beginner's Guide To Ethereum Casper Hardfork: What You Need To Know

The Casper updates mission is straightforward, then: to shift ether from being a PoW coin to a Proof-of-Stake (PoS) coin . As opposed to the PoW consensus protocol, the PoS protocol achieves consensus through stakerssometimes referred to as minters, toowho stake their coins by locking them down in specialized wallets . With these stakers at work, mining will become redundant, meaning the Ethereum network post-Casper will rely on stakers and staking pools instead of miners for its operability. And, like miners, stakers will be rewarded for their service to the network. Minters will receive an annual dividend of ether (collected from network fees), so staking would be a lucrative endeavor for those with enough coins. Naturally, then, the more ETH you stake, the larger your annual dividends will be. For now, Ethereums developers havent arrived at a hard number for the amount of ETH that will be required to stake. What they have confirmed, though, is that the number will likely start out higher before gradually being brought considerably lower. For instance, Ethereum founder Vitalik Buterin has recently thrown around a guesstimate of needing approximately 1,000 ETH to be one of the networks inaugural stakers. He said that number could be dropped down to as low as 10 ETH over time. Whatever the number ends up being, users will still be able to band together and create staking pools, just like there are robust mining pools in the Bitcoin and Ethereum communities today. Youll simply pitch your desired amount of ether in, lock in down with your peers, and rake in the dividends together (to be shared proportionally, of course). Well, the Casper update is certainly a team effort, but its inarguable that top Ethereum researcher Vlad Zamfir has been at the vanguard of the updates Continue reading >>

Ethereum A Step Closer To Proof Of Stake

Ethereum A Step Closer To Proof Of Stake

Ethereum has a deadline coming up to achieve a proof-of-stake approach, and it seems to be serious, getting closer to launching the Casper update as testnet. The most important change to Ethereum, the moving to Proof-of-Stake securing of the blockchain, is coming closer as a test net for the Casper update is in the works. Previously delayed, the Casper update has been brought forward, presumably due to the better hiring power of the Ethereum foundation. And with Ethereum breaking the $500 barrier in line with the record-breaking streak of the cryptocurrency market , the funding may continue to attract developer talent. With proof of stake, any owner of ETH coins could secure the network and receive rewards. The move toward PoS will mean Ethereum is at first a mixed coin with some mining and staking, until it moves to the more energy-efficient PoS mechanism. The locking up of ETH in nodes will create additional scarcity. The system will become more centralized, resembling DASH and its Master Nodes. But this is also a scaling solution which would help proliferate verified transactions through the network faster. With the Casper update, the next step after the Byzantium hard fork, Ethereum will aim to achieve the speeds of VISA, or at least reasonably expand the capacity of its network. At the moment, Ethereum is faster than Bitcoin, but still handles around 13 transactions per second and has seen serious traffic jams. The rise of Ethereum first happened around the hype for ICOs, but as BTC has crossed the $11,000 barrier, cryptocurrencies are going into the mainstream and market prices are moving up, inviting new buyers. ETH coins seem to be appreciating by the hour, trading at $513 as the leading coins are making rapid gains. The projections for Ethereum include a marke Continue reading >>

A Comprehensive Analysis Of Rocket Pool (rpl): The Leading Staking Pool Forethereum

A Comprehensive Analysis Of Rocket Pool (rpl): The Leading Staking Pool Forethereum

Associate at Divergence Digital Currency Fund, MBA @MIT, @Northwestern, former investor @Blackstone A Comprehensive Analysis of Rocket Pool (RPL): The Leading Staking Pool forEthereum Divergence Digital Currency Fund (DDC) is a hedge fund that invests in cryptoassets and associated early-stage projects leveraging distributed ledger and related technologies. In this piece we cover Rocket Pool, one of our portfolio companies being built by David Rugendyke and a team of experienced developers. Rocket Pool is a decentralized staking pool that is democratizing access to staking on Casper , the Friendly Finality Gadget (Casper). Companies such as Rocket Pool embody the core principles of distributed ledger technology and allow for a more decentralized cryptoeconomic ecosystem. Were excited to share our research with you, and encourage questions, feedback, and corrections. We would love to hear from you. We view Rocket Pool as a high-potential and under-appreciated project for the following reasons: Rocket Pool addresses narrow, yet hairy challenges that Ether users face when interacting with Casper. The project is led by a strong technical team and has a well-developed code base (see Rocket Pool GitHub ). Finally, it uses sensible cryptoeconomic design and token mechanics to incentivize stakeholders and allow the network to operate efficiently. Rocket Pool is still under the radar. Heres why: The team is small and based in Brisbane, Australia (not the biggest hub for ICOs). Its token sale happened with little fanfare and was capped at only $4.25mm with proportional distribution in its crowdsale. The project prioritizes investment in development instead of marketing and business development. The team is relatively inactive on social media, and uses Discord over Telegram (more Continue reading >>

Alpha Casper Ffg Testnet Released, Ethereums Pos Excitement Grows

Alpha Casper Ffg Testnet Released, Ethereums Pos Excitement Grows

Ethereums march toward Proof of Stake (PoS) continues, as researcher Karl Floersch has just released a guide on how to use an alpha Casper FFG testnet through pyethereum. The testnets parameters which are not finalized currently require 1,500 ETH as a minimum staking amount. Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: ETH Community Continues March Toward Casper In what many Ethereum users will consider a symbolic cap to a strong year, Floersch released the Alpha Casper FFG Testnet Instructions earlier this morning on 2017s final day. There are two versions of Casper Ethereums researchers are currently working with: Casper FFG (Friendly Finality Gadget) and Casper CbC (Correct-by-Construction). The former model, which Floerschs freshly released testnet is based off of, will manage Ethereums shift from Proof of Work (PoW) to PoS. Likewise, Casper CbC will be used to manage Ethereums consensus process after the shift to PoS has been finalized. When over, this transition will allow Ethereum users to stake ether to validate the network, as opposed to the mining thats currently required through PoW. For users interested in taking the new FFG testnet for a spin, its only available for now through the pyethereum client. In his guide, Floersch was careful to keep expectations realistic, noting that: pyethereum [] has a much lower processing capacity than clients implemented in faster languages; as a result, network parameters will be heavily restricted to ensure network sustainability.Do not expect performance equivalent to test networks operated by more performant clients such as Geth and Parity. The researcher also explained how prospective participants could become test validators: First, you will need to have enough Continue reading >>

Proof-of-stake - Wikipedia

Proof-of-stake - Wikipedia

This article may rely excessively on sources too closely associated with the subject, potentially preventing the article from being verifiable and neutral . Please help improve it by replacing them with more appropriate citations to reliable, independent, third-party sources . ( Learn how and when to remove this template message ) Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus . In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e. the stake). In contrast, the algorithm of proof-of-work (PoW) based cryptocurrencies (such as bitcoin ) rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining ). Proof-of-stake must have a way of defining the next valid block in any blockchain. Selection by account balance would result in (undesirable) centralization, as the single richest member would have a permanent advantage. Instead, several different methods of selection have been devised. Nxt and BlackCoin use randomization to predict the following generator, by using a formula that looks for the lowest hash value in combination with the size of the stake. [1] [2] [3] Since the stakes are public, each node can predict - with reasonable accuracy - which account will next win the right to forge a block. Peercoin 's proof-of-stake system combines randomization with the concept of "coin age," a number derived from the product of the number of coins times the number of days the coins have been held. Coins that have been unspent for at least 30 days begin competing for the next block. Older and larger sets of coins have a greater probability of sign Continue reading >>

Coinbase And The Ethereum Staking Problem

Coinbase And The Ethereum Staking Problem

Coinbase and the Ethereum Staking Problem One of the largest shifts in the blockchain world in 2018 will be Ethereums move from Proof of Work (POW) to Proof of Stake (POS). In short, this means that instead of new Ether tokens being mined through physical hardware work they will be distributed almost like interest to existing token holders. At some point in the near-distant past, while Ethereum traded around $10 a token, the minimum staking amount was set at 10,000 Eth. Since then weve seen a 7,000% price rise over 2017, and all but the largest stakeholders can afford to hold the 10,000 minimum. There is hope for the majority however: the minimum is expected to drop over time, and even before then users can join staking pools where they club together to meet the threshold. Pools are common with traditional cryptocurrency mining. Its impossible for a small-time bitcoin/altcoin miner to solve a block by themselves, so they pool their processing together via websites and share the rewards. Often mining pools will take a small commission, say 10% or so, for the work they have to do maintaining the infrastructure. The problem with a staking pool is that you likely have to trust your funds with a third party. Say you join a mining pool, the worst that can happen is the administrator doesnt pay out, and you lose the work for a few days/hours. With a staking pool, if you have to deposit your Eth, they could potentially run off with the lot. So, with Eth staking it is important to find a trusted third party. Otherwise its not worth risking your existing holdings for an annual return expected to be around 7%. Coinbase has now become the first point of entry for most newcomers to Cryptocurrency. It allows you to purchase cryptocurrency easily and for a low fee (or no fee, with gd Continue reading >>

The Definitive Omisego Beginners Guide

The Definitive Omisego Beginners Guide

Artist, Writer, IWantToBuyArt.com founder, JavaScript, Blockchain, jeremiegrandsenne.com As the interest for blockchain projects and cryptocurrencies is exponentially growing, OmiseGO appears to be one of the strongest and most exciting projects out there. Still, as it involves fairly complex notions, it is hard for the beginner looking for an introduction to find a clear and complete guide: OmiseGOs website provides all necessary documents, and especially the white paper , an in-depth explanation of the whole system, but although being an extremely well thought and precise document, it would be a lie to pretend its not a hard read at first sight. There are also some good quality reviews already, but while they can be very useful, they usually focus on one specific point of the matter, such as commercial partnerships, without taking the time to introduce the whole of the project to someone that would be completely new to it. So I decided to write the comprehensive guide that would take everything from the start and be clear for anyone to read, while at the same time exposing everything in the most precise and accurate way, in order to give this very ambitious project the wide audience and understanding it deserves. As Im taking things back from the basics, if you feel like you are already clear about some points, feel free to skip them and directly move to the points that interest you. I have tried to give a clear architecture to this article, clear titles and an introductive summary, so that you can browse easily through this guide if you dont want to read it from the beginning to the end. Please note that whatever you read in this guide, it is made only for explanational purpose, and is not in any case an investment advice: I am not entitled to this, I dont wish to, Continue reading >>

Proof Of Stake Faq Ethereum/wiki Wiki Github

Proof Of Stake Faq Ethereum/wiki Wiki Github

See A Proof of Stake Design Philosophy for a more long-form argument. No need to consume large quantities of electricity in order to secure a blockchain (eg. it's estimated that both Bitcoin and Ethereum burn over $1 million worth of electricity and hardware costs per day as part of their consensus mechanism). Because of the lack of high electricity consumption, there is not as much need to issue as many new coins in order to motivate participants to keep participating in the network. It may theoretically even be possible to have negative net issuance, where a portion of transaction fees is "burned" and so the supply goes down over time. Proof of stake opens the door to a wider array of techniques that use game-theoretic mechanism design in order to better discourage centralized cartels from forming and, if they do form, from acting in ways that are harmful to the network (eg. like selfish mining in proof of work). Reduced centralization risks, as economies of scale are much less of an issue. $10 million of coins will get you exactly 10 times higher returns than $1 million of coins, without any additional disproportionate gains because at the higher level you can afford better mass-production equipment. Ability to use economic penalties to make various forms of 51% attacks vastly more expensive to carry out than proof of work - to paraphrase Vlad Zamfir, "it's as though your ASIC farm burned down if you participated in a 51% attack". How does proof of stake fit into traditional Byzantine fault tolerance research? There are several fundamental results from Byzantine fault tolerance research that apply to all consensus algorithms, including traditional consensus algorithms like PBFT but also any proof of stake algorithm and, with the appropriate mathematical modeling, pr Continue reading >>

Proof Of Work Vs Proof Of Stake: Basic Mining Guide

Proof Of Work Vs Proof Of Stake: Basic Mining Guide

Proof of Work vs Proof of Stake: Basic Mining Guide Angel Investors, Startups & Blockchain developers... Recently you might have heard about the idea to move from an Ethereum consensus based on the Proof of Work (PoW) system to one based on the so-called Proof of Stake. In this article, I will explain to you the main differences between Proof of Work vs Proof of Stake and I will provide you a definition of mining, or the process new digital currencies are released through the network. Also, what will change regarding mining techniques if the Ethereum community decides to do the transition from work to stake? This article wants to be a basic guide to understanding the problem above. First of all, lets start with basic definitions. Proof of work is a protocol that has the main goal of deterring cyber-attacks such as a distributed denial-of-service attack (DDoS) which has the purpose of exhausting the resources of a computer system by sending multiple fake requests. The Proof of work concept existed even before bitcoin , but Satoshi Nakamoto applied this technique to his/her we still dont know who Nakamoto really is digital currency revolutionizing the way traditional transactions are set. In fact, PoW idea was originally published by Cynthia Dwork and Moni Naor back in 1993, but the term proof of work was coined by Markus Jakobsson and Ari Juels in a document published in 1999. But, returning to date, Proof of work is maybe the biggest idea behind the Nakamotos Bitcoin white paper published back in 2008 because it allows trustless and distributed consensus. Whats trustless and distributed consensus? A trustless and distributed consensus system means that if you want to send and/or receive money from someone you dont need to trust in third-party services. When you use tra Continue reading >>

Ethereums Proof-of-stake May Be A Profitable Venture For Currentholders

Ethereums Proof-of-stake May Be A Profitable Venture For Currentholders

Co-founder & CEO of Apteo: Researching machine learning techniques to improve investing, especially in stocks, options, and soon, crypto. Come join us! Ethereums Proof-of-Stake May Be A Profitable Venture For CurrentHolders In a recent post , I outlined how the use of real-world resources tie cryptocurrencies like Bitcoin and Ether back to real world monetary value. Today, Im going to flip the script and talk about Ethereums plan to eliminate the need for heavy duty computing power, and why that may not be such a bad thing from a financial perspective. If youre familiar with the idea of cryptocurrency mining, you know that in order to keep a blockchain running smoothly, it takes a lot of computing power to verify new transactions. This process, known as mining, is currently used by both Bitcoin and Ethereum to maintain their blockchains. One of the main issues with mining is the vast amount of electricity that it uses. Vitalik Buterin, the creator of Ethereum, has estimated that the amount of electricity needed to mine Bitcoin and Ethereum runs up a $1M daily bill ( ). Another study recently showed that the amount of electricity consumed by the Bitcoin mining network is comparable to the energy used by all of Ireland ( ). If things continue as-is, cryptos are going to be a big problem for the environment. Mining fills a big need providing consensus among network participants regarding the state of the world of historical and current transactions. Because miners solve complicated problems using transaction information and cryptography, what they do is referred to as proof-of-work. There are, however, other methods for getting a group of disparate participants to agree on transactions. The most popular of which is referred to as proof-of-stake. Instead of miners competin Continue reading >>

Proof-of-stake: Vitalik Buterin Shares Casper Contract Code

Proof-of-stake: Vitalik Buterin Shares Casper Contract Code

Proof-Of-Stake: Vitalik Buterin Shares Casper Contract Code Vitalik Buterin took to reddit to share a (not so sneak) peek at the current version of the Casper contract and offered a few answers to Proof-of-Stake questions. One of the most anticipated events in the Ethereum ecosystem is the switch from Proof-of-Work to Proof-of-Stake. Both of these systems are used to achieve consensus and maintain the security of a blockchain-based network. Proof-of-Work uses mining, requiring vast amounts of computing effort and electrical power. Proof-of-Stake is meant to move away from a system that demands such a high expenditure of resources and instead secure consensus through network participants putting up a stake of their virtual currency in return for proportional (to the amount staked vs. all coins available across the network) rewards for their virtual mining. No PoW-style mining actually takes place in PoS; the deposit is more about incentivizing honest actions. A validators deposit is burned (automatically forfeited and destroyed) if they make a malicious move, as defined by the minimal slashing conditions . The changeover will beimplemented in sequential steps, transitioning the system to a hybrid of PoW/PoS system before going full PoS. Writing the code for the Casper contract is a part of the first stage of the multistage roadmap to PoS. According to Buterins recent presentation at the Taipei Ethereum Meetup, stage one is over three-quarters complete. In a highly transparent move, Buterin shared the code that would implement the hybrid system for his Casper contract. While Casper is the protocol set to govern Ethereums PoS system, it will be implemented as a contract in Ethereum in order to lessen the chance for consensus issues among clients. If Casper were implemente Continue reading >>

Rocket Pool - Your Friendly Decentralised Ethereum Proof Of Stake (pos) Pool

Rocket Pool - Your Friendly Decentralised Ethereum Proof Of Stake (pos) Pool

ConsenSys picks Rocket Pool to pitch to them in Sydney! ConsenSys is launching a $50 million venture capital fund to be managed by social impact expert Kavita Gupta and they have hand picked 4 Australian projects from all over to pitch to them at the Sydney Ethereum Meetup on the 14th November and you guessed it, Rocket Pool got picked! It was Sydney Ethereums biggest meetup ever with over 300 people attending and some major industry players. After the very successful presale in September, Rocket Pool is now aiming to launch its next and final token sale starting on November 25th and running through to December 23rd. This new public crowdsale will feature a new type of token distribution system which will allow anyone to claim some RPL tokens from the sale, regardless of the amount they contribute or the time they contribute. Like the original presale, it's built using our own token distribution platform, the Sale Agent. With the RPL presale in the rear view mirror, efforts over the last few weeks have been concentrated on working on some core elements of Rocket Pool that will be required for its beta release hopefully on the Kovan testnet in the first quarter of 2018. Some of these core elements are the smart node service scripts and the design / functionality of the Rocket Pool beta UI. Ethereum Brisbane - Rocket Pool, Anatomy of a Dapp Rocket Pool got a special invitation to give a talk on our Dapp + Network to the Brisbane Ethereum Meetup group on the 4th October. Had a great turn out of 60-80 people and spent a good hour going over all Rocket Pools tech, how it was made and what it was made using. Slides from the event are linked above. Our primary protocol token RPL has been quickly listed at EtherDelta after the initial token presale. EtherDelta is a decentralis Continue reading >>

Top 7 Profitable Proof Of Stake (pos) Cryptocurrencies

Top 7 Profitable Proof Of Stake (pos) Cryptocurrencies

Top 7 Profitable Proof Of Stake (POS) Cryptocurrencies By: Sudhir Khatwani In: Cryptocurrency Last Updated: Lets talk about popular proof of stake cryptocurrencies today And I know one more important question that might cross your mind would be:-Whyproof of stake cryptocurrencies? Why should one know them? Whats so special about them? So to answer such questions lets get started Proof of stake (aka POS) cryptos has many technical benefits but apart from that some proof of stake cryptos also give different economic benefits/dividends to its HODLers by giving them the option of running a masternode or staking their coins in a stake-able wallet. To simply put into perspective i.e you can earn by just holding many POS cryptocurrencies. This provides dual benefits of securing the blockchain network as well as creating an opportunity for users to get incentives or dividends on their holdings. I have already written in detail about the distributed proof of stake (POS) cryptocurrencies and its consensus mechanism in my previous article which you can read here . But for the newcomers, let me explain what distributed consensus and POS is: Distributed consensus simply means a large pool of people who are geographically segregated agreeing on something. In cryptocurrencies like Bitcoin , something here means agreeing on which transactions or blocks are valid and which are invalid to be added/rejected to the blockchain. Proof of stake is a typical computer algorithm through which some cryptocurrencies achieve their distributed consensus. Itis also a better alternative to the proof of work algorithm by achieving the same distributed consensus at a lower cost and in a more energy efficient way. (For more details on POS vs POW read here ) So if you are holding any such POS cryptocurre Continue reading >>

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