Proof of Stake (PoS) is a completely different process from the well-known Proof of Work (PoW) protocol. Where each of its nodes does hard computational work to solve cryptographic puzzles.
This means that PoW, unlike PoS, requires large amounts of energy and specialized equipment to perform its operations. In PoS, by contrast, this is not necessary. In PoS, the process is much simpler and energy friendly. Which is why many blockchain projects are currently interested in this new protocol.
Here in the following overview, we have compiled the top 10 PoS Coins:
1. Tezos (XTZ):
Tezos (XTZ) is a decentralized computing platform that uses a formal verification protocol, as well as a Proof-of-Stake based consensus module for its internal governance issues.
Regarding the functioning of the system, XTZ holders who retain their tokens in the system are eligible to receive additional tokens as an incentive for the creation and verification of blocks.
Throughout 2019, the value of the XTZ / USD pair has increased by more than 190%.
The current stake reward is 5.63%. To stake Tezos, there are 2 options, Delegate Tezos and Bake Tezos.
2. Cosmos (ATOM):
Cosmos (ATOM) is a decentralized network made up of several independent, scalable, and interoperable blockchains. The platform has gained a lot of attention throughout 2019, especially since the network-associated cryptocurrency.
As the current stake reward shows us, it is 8.27%. So, if you want to stake Cosmos (ATOM) easily, there are 2 options – Delegate Cosmos or Run a validator node.
3. Decred (DCR):
Decred is a decentralized and structured platform on a blockchain that is primarily aimed at its user community, putting special emphasis on their opinions and interactions.
At Decred all decisions are made democratically by voting, in this way users influence the future of their network.
Thanks to one of the most striking features of Decred which is, a hybrid composition that combines 2 algorithms, thus taking advantage of the strengths and limitations of PoS and PoW.
If you want to stake Decred, there are 2 ways: Delegate Decred and Contribute to a Split Ticket.
Its current stake reward is 7.88%
4. Icon (ICX):
ICON and its cryptocurrency ICX is a platform based on its blockchain technology. It is created to integrate and manage an infinite number of blockchains within its system.
It describes itself as a decentralized network of blockchain communities that aims to hyper connect the world.
Also, it allows programming DApps (decentralized applications) and starting ICOs, which is why it has been specially designed to offer solutions to companies in the service sector.
ICON works with its blockchain known as the Loop chain, which works with a consensus algorithm also called the Loop chain. Its greatest virtue is the ability to add blockchains and infinite functionalities to its ecosystem according to the needs of the moment.
To stake ICON (ICX), there are 3 options,
– Stake ICON
– Run a Sub P-Rep Node
– Run the Main P-Rep Node
The current stake reward is 13.57%.
5. Algorand (ALGO):
Algorand (ALGO) is a new cryptocurrency that was recently listed on the Binance stock exchange and immediately became the 10th largest cryptocurrency in terms of market capitalization.
Also, it is a scalable, secure, and decentralized cryptography and payment platform.
Algorand implements the Proof-of-Stake (PoS) algorithm to achieve shorter transaction times, lower energy consumption, and to provide tools that facilitate the technological evolution of the blockchain.
If you want to stake Algorand (ALGO), there is only 1 option currently – Stake Algorand.
Its current stake reward is 5.41%.
6. Waves (WAVES):
Designed with ease of use in mind, the Waves platform allows any of the initial coin launch companies (ICOs) or start-ups to issue their cryptocurrency tokens to raise funds to develop their projects.
Waves is an open and decentralized blockchain platform that allows people to issue their cryptocurrencies and create apps.
Today, professionals and amateurs use it to create their encryption assets and organize crowdfunding campaigns to raise money. Each created token can be exchanged for WAVES.
The Waves platform is focused on creating an infrastructure that makes it easy for developers to create all kinds of blockchain-based applications.
The Waves token (WAVES) is primarily used to fund projects running on the Waves platform. To issue your digital currency through Waves, you will need to have at least 1 WAVES token.
If you want to stake Waves, currently there are 2 options – Lease WAVES or Mine WAVES.
The current stake reward is 5.61%.
7. Synthetix Network (SNX):
The Synthetix Network Token (SNX) is an ERC-20 token that aims to facilitate all native transactions associated with the Synthetix exchange. Additionally, SNX tokens are traded using a peer-to-peer contract model and are also used as collateral to back SNX synthetic assets that are called Synthesizers, which are employed within the Synthetix Network to track the market value of any basic asset.
If you want to stake Synthetix Network (SNX), you need to Stake SNX or Lend SNX.
Current stake reward is 54.45%
8. IOST (IOST):
IOST is a platform for cryptocurrency services. Surely you have already heard about this token since its services and infrastructure have solved many problems of current companies regarding blockchain projects.
It is presented to the world as the new backup token for IOST, offering better scalability that is usually the main objective of all cryptocurrencies.
The strategy used by the managers of this company is to use (Efficient Distributed Sharing) EDS. Thanks to this system, content providers should only care about that, the content, and not the infrastructure. The EDS system would take care of digital goods services through its network, greatly increasing its speed.
If you want to stake IOST, there are 2 options – Vote for a Servinode or Run a Servinode.
The current stake reward of IOST is 10.43%
9. Aion (AION):
Aion is a third generation blockchain technology project, comprised of multiple levels and intended to focus on scalability, privacy, and interoperability in blockchain networks.
The Aion-1 blockchain, developed in this project, makes it possible to join any public or private blockchain while managing its applications at the same time.
Its objective is based on solving the deficiencies of the first and second generation blockchain, which have generated delays in the development of the market.
The Aion token is an ERC-20 token. Which means it is compatible with the Ethereum platform. Its use is intended to secure the overall network, create new blockchains, and monetize the multiple bridges between chains. The tokens are transferable and are first obtained on the Ethereum network.
Do you want to stake AION? There are currently 2 options – Delegate AION or Run a Validator Node.
Its current stake reward is 5.97%
10. TomoChain (TOMO):
TomoChain (TOMO) is a cryptocurrency from the Ethereum network that aims to become an innovative solution to the problem of blockchain scalability.
TomoChain sets out the goal of supporting horizontal scaling by adding more second layer blockchains with good performance integrated with Ethereum for backups and cross-chain atomic transfer.
The TomoChain project is expected to be a network of chains that allows instant confirmation and virtually free transaction fees. That will be a good solution for decentralized applications, token issues, and integrations for small and large companies.
There are currently 2 options to stake TomoChain, Vote for a Masternode or Run a Masternode.