What is Proof of Stake?
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 reward
When you’re staking a coin, you will be rewarded with x amount of coins, like
a fixed deposit, you will be paid an interest as a reward.
The quantity of coins is defined by the coin developer and is presented in
APR, Annual Percentage Rate. There are coins out there on the market that
pay from 1% up to 10.000%.
The reason why you get paid is because when you’re staking, you have your
personal wallet 24/7 opened and are helping support the blockchain network
of that coin.
Why join a Staking Pool?
The reward time is lot shorter when you stake together with other in a pool
and you earn higher rewards than individually.
Pros
- An intuitive user interface to manage your coins and to check the community pool.
- Reward time is lot shorter when you stake together with our pool.
- Together we earn higher rewards than individually.
- Participation in a shared MasterNodes
- Bounty Board (Get free Coins)
- No restrictions on deposits or withdraws.
- No cost for hardware for you.
- No cost for electricity, computer or server.
- Completely secure and stress-free.
- You will pay 3% of each stake you receive. When you receive your stake it´s already without the fees.
- You have to trust simplepospool with your coins
Happy Staking,
nexusice