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Author Topic: POW POS Etc  (Read 785 times)
bradleyb5155
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September 23, 2014, 01:56:33 AM
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Could someone please put together a list of the "different" types of crypto currencies, for example we have POS, POW etc. Im confused to what each mean and how many there are, please provide a few examples of what coin falls into which category.
Thank You
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digitalindustry
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September 23, 2014, 02:10:21 AM
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Welcome to the
Enjoy your stay.

tiny rick !
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September 23, 2014, 02:24:33 AM
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Welcome to the
Enjoy your stay.

these aren't the coins your looking for...

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September 23, 2014, 02:39:00 AM
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Could someone please put together a list of the "different" types of crypto currencies, for example we have POS, POW etc. Im confused to what each mean and how many there are, please provide a few examples of what coin falls into which category.
Thank You

Coin Generation / Securing the Blockchain:

PoW (Proof-of-Work): Mining entails peforming a hashing algorithm on data until it meets specific criteria. This requires using computational power (work).
Examples: Bitcoin (original implementation of PoW), Litecoin, Dogecoin

PoS (Proof-of-Stake): Staking (sometimes called "minting") entails having coins that haven't been spent for a certain amount of time (this time is called "coin age"). When staking, you actually send coins to yourself, thereby reducing the coin age to zero, proving your "stake."
Examples: Peercoin (original implementation of PoS), Cinnicoin, Mintcoin

If you have another type of coin that needs clarifying, I'll just update this post so it can all be linked to conveniently.
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September 23, 2014, 02:29:04 PM
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    Proof of Reserve (PoR)

https://bitcointalk.to/index.php?topic=734477.0

Proof of Reserve (PoR) is a brand new block generation method based on PoS but having additional features

  • Reserves held by users are vaulted balances for a specified timeframe, having a specified return option.
  • Returns are calculated by the network and paid every 6 hours to active balances.
  • The amount of the return is decided by the longevity of the ReserveRate you choose.
  • Reserve rates are

    • 7.5% per year for a Reserve of 3 days
    • 8% per year for a Reserve of 7 days
    • 8.5% per year for a Reserve of 10 days
    • 9% per year for a Reserve of 15 days
    • 9.9% per year for a Reserve of 30 days

  • Reserved units can be released from Reserve before the end of the reserving period for a fee of 0.5% of the Reserved amount. The fee is sent to a burn address so it helps in balancing the inflation.
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