For the blockchain technology, the phenomenon of consensus is very important. This parameter determines the reliability of the network and its ability to ensure the data is unchanged in the chain. Consensus algorithms are different and are constantly being modernized. Proof of Work is the first consensus algorithm that provided the work of the bitcoin network. But the downside of this method of reaching consensus is that it requires more and more capacity to support it. And this is a real problem. User problems consist in the fact that the reward for mining began to decline with time. To solve this problem, the miners began to unite into pools.
But the Proof of Work algorithm has other problems. Low scalability. This problem is in the first place and has not yet been solved. The effectiveness of this method does not allow you to scale it to multiple users. the excess of too much electricity, which with each block is getting higher.
To solve these problems, a new-generation consensus algorithm, the Proof of Stake, was developed. The essence of this is that the probability of creating new blocks by a miner is higher, the more it has a specific crypto coin. But today there is no possibility to unite their assets in order to increase this probability. How to share the reward, how to properly consider the contribution of each participant? All these issues are facing developers today in this direction.
Pool of Stake is a decentralized platform for joint stacking. In other words, the Pool of Stake solution allows owners of PoS crypto-currency to pool into pools to increase the likelihood that they will receive a reward through the PoS algorithm, as well as to distribute it evenly.
The principle of operation is that the user is offered to purchase crypto coins PoS, with which he wants to join the pool. At the same time, a smart contract is drawn up, which takes into account the number of participants in the pool, the degree of their participation, the period of the coin blocking and other parameters. The smart contract is sewn into the KEY token. After that, the coin is blocked for periord of mining. After releasing the lock, all the money in the pool, the crypto currency is distributed evenly between the participants in the form of KEY tokens, according to the terms of the smart contract. And the currency that was in blocking, in the same volume, also returns. Thus, users increase their income by combining the volumes of their assets. Payment is made every 24 hours in the personal account of the user.
KEY tokens serve as a method of confirming profit. Therefore, it is constantly used in the process of the system functioning. And the more users enter the system, the higher its cost becomes. This ensures the liquidity and stability of the KEY coin. Pool of Stake is the solution for those who wish to increase their assets in a passive mode. You can do this in three ways. The first is to purchase KEY tokens. The second in the conclusion of a long-term smart contract for the stowage of coins PoS.
The system also has a second type of PSK coins. Which are internal coins and serve for the autonomy of the PoS coins inside the system. Therefore, they are also constantly used by users of the system and, accordingly, are also subject to growth. Holding this coin is the third way of passive income on the platform of Pool of Stake. These coins can be purchased during the ICO.
Name of the token: PSK
Total number of released tokens: 70 000 000
Start ICO: July 20, 2018
End of ICO: September 30, 2018
Soft cap: € 2 million (reached)
Hard cap: € 8 000 000
Price of the token : 1 PSK = € 0.3
The project team sees that the future of pulls and the overall consensus of PoS is behind the way of stacking the Pool of Stake. Then, as the pools of the Pool of Work will have to step back. And this is logical, since this method does not require computing power and the availability of large assets.
What is the attraction of the project Pool of Stake. First, it is a way to attract more users to the crypto industry. That will increase the opportunities for scaling and increase the stability of consensus. Secondly, the project has already overcome the Soft cap mark. Third, PoolofStake has pretty good ratings on the ICO listings. The sale of coins ends today.
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