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deepanshu bhatt

What is the difference between Proof-of-Stake and Proof-of-Service

In cryptosphere, blockchains need timely validation and maintenance which could be performed through different methods. Most of these methods act as probable actions to earn rewards by assisting with the blockchain security and mechanism. You can Precursor Towards Earning Crypto Passive Income. The main aspect of the blockchain technology is to maintain a digital, decentralized and distributed ledger. Have you ever thought of how these records and transactions are being recorded to the distributed public ledger, or its operation, who is in-charge of verifying transactions and ensuring that there is no untrue data annexed to the blockchain. This is the place where consensus mechanism comes into form which binds the entire network and verifies whether the information being recorded on  the public ledger is valid or not.

 

With all the cryptocurrencies operating on varying consensus mechanisms, Proof-of-Work (PoW) is one such known method wherein the miners earn (monetary reward) by solving the next hefty puzzle fastest. Proof-of-Work has been the most widely used method for validating blockchains, but it involves abnormal usage of energy to internalize and solve the hash puzzles. 

To combat this cause, more and more cryptocurrencies are now implementing Proof-of-Stake. 

Masternodes (PoSe), on the other hand provide advanced services and governance on the platform. Running a masternode is a form of staking which is more difficult to reach. Masternode is a combination of staking wallet and a server that derives blockchain network. 

 

What is Proof-Of-Stake?

Proof-Of-Stake is a concept where mining and validating block transactions depends upon the person’s current stake in digital assets. The more tokens you hold, the more you can mine. While you mine, you will be rewarded with more of the tokens. For this, you just need to set up a wallet on your PC and keep it open and connected to the network 24/7. Proof of stake is similar to Proof of Work

Stake-Coins by deepanshu bhatt

 

What is a Masternode?

A masternode is a server that derives a blockchain network. Masternodes provide advanced services and governance on the blockchain network. These are created by community members who are known to have fulfilled a certain criteria. To operate a masternode, one needs to put up a specified  amount of tokens in their wallet which vary from blockchain to blockchain. Dash is the first ever cryptocoin to introduce masternodes. Masternodes, instead of staking coins and securing network provides extra services such as hosting and maintaining entire blockchain. Hence, it comes under Proof-of-Service (PoSe)

To attain a difference between the two emerging mechanisms of blockchain implementation, we take a closer look at the pros and cons of these mechanisms.

 

Staking Vs. Master nodes

With the large number of Proof of Stake and master node coins pertaining, comes the advantages and disadvantages of each. You can go through the following inputs, while you are deciding about any coin to stake that consists of both master node and staking feature. 

Mechanism Pros Cons 
PoS

(Staking)

Start staking, All you need to do is unlock a wallet and leave it open 24*7. 

Here, you go!

No minimum amount of coins needed to stake.

Coinage and weight are not affected even if the wallet goes offline. 

User-friendly and cost- effective. 

Requires hot wallet which needs to remain unlocked. 

Low rewards due to high competition.

PoSe

(Masternode)

Stake here, and you’ll get more and bigger reward amounts. 

Masternodes are usually hosted in hot/cold environment. (taking wallet offline may even cause no harm)

Frequency of distribution of rewards is predictable. 

Requires fixed amount as collateral which is usually large and unaffordable.

Setting up of masternodes is quite difficult.

Involves an operating cost for being run. 

 

Both staking and master nodes have varying deliverable in terms of their advantages and disadvantages. This set of pros and cons will help you to know which side are you on! 

Start Earning Crypto Passive Income with these 10 PoS Coins

Start Earning Crypto Passive Income with 10 PoS Coins

Deepanshu bhatt – I analyzed and surfed through different platforms to stake and realized the multiplicative yields from them. With this, I began to affirm the fact that staking could be the only viable medium to earn crypto passive income. I ‘ve sorted down 10 most competitive crypto coins to stake and the timely yields from them. I’ve chosen these coins out of all other crypto assets because of their unique features and higher scalability. All of these ten platforms have some outstanding features that make them one of a kind in the industries they’ve internalized. The innovation of involving blockchain technology into their normative standards of operating services gives a competitive edge to these 10 coins in particular. 

1. Livepeer (LPT)

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Livepeer is constructing a platform for open source videos, backed by ethereum blockchain. For developers who want to deploy live or on-demand videos in their projects can pass on their efforts to this platform. Including low costs, this platform is highly scalable and decentralized. Livepeer Tokens (LPT) are made available for purchase by community members on decentralized exchanges. 

2. Lisk (LSK) –  

Lisk token for passive income- deepanshu bhatt
Deepanshu bhatt

Lisk is a blockchain application platform that aims to make blockchain technology highly accessible to the masses. Lisk operates under the delegated proof of stake (DPoS) consensus mechanism to allow its network to be secured from delegates.

3. Ark (ARK) – 

To simplify the process of mutual relations, cooperation and and calculations in the virtual world, Ark has its own virtual token carrying a monetary value. Not just a cryptocurrency, it is a platform for mass adoption to cryptocurrency. 

4. Tron (TRX) –

 

"tron

Aiming to build a truly decentralized internet, Tron is an ambitious and dedicated project built on blockchain. TRX or Tronix is the cryptocurrency initialized on TRON blockchain.

5. IOST (IOST) –

IOST aims to provide a solid infrastructure for services online. It is based on Proof of Believability consensus algorithm. IOST is a cryptocurrency that revolves around the internet of services. IOST mainnet tokens are believed to replace ERC-20 token of IOST. 

6. Cosmos (ATOM) –

Cosmos - ATOM by deepanshu bhatt

Cosmos has open doors for parallel blockchains to communicate. Through its outstanding values and results, cosmos blockchain aims to become the “internet of blockchains”. Cosmos blockchain is based on BFT (Byzantine Fault Tolerance) consensus algorithm.

7. Qtum (QTUM) –

 

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Qtum is a smart contractual, PoS consensus algorithm based blockchain platform aiming to improve weaknesses in the Ethereum blockchain.  It is a cryptocurrency combining ethereum’s smart contract and bitcoin’s security. 

8. IoTEX (IOTX) –

IoTEX is a blockchain platform for Internet of Things (IoT) highly focused towards privacy. IOTX believes that tokenization can run the network in a decentralized manner. Users are rewarded to participate in the community.

9. TokenPay (TPAY) –

TokenPay establishes itself as the most secure payment platform. Offering the most advanced tools and technology, TokenPay is redefining the boundaries of crypto mechanism.

10. IRIS Network (IRIS)-

IRIS Network is a decentralized inter-chain network constituting hub and zones through the instrumentation of a layer of service roadmap based on Cosmos/Tendermint, with enhanced usage of token .

  Token Current holdings

(per 10,000 tokens)

Daily earning

(per 10,000 tokens)

Weekly earning

(per 10,000 tokens)

Monthly

(per 10,000 tokens)

Yearly

(per 10,000 tokens)

Livepeer $65,100 $282.84 $1,985.30 $8,602.9       $103, 235.58
Lisk $15,900 $1.39 $9.78 $42.40 $508.80
Ark $4,383.16 $1.19 $8.35 $36.20 $434.37
Tron $339.84 $0.04 $0.27 $1.19 $14.24
IOST $122.33 $0.05 $0.35 $1.53 $18.32
Cosmos $48,100 $13.84 $97.12 $420.87 $5,050.50
Qtum $47,300 $3.25 $22.83 $98.94 $1,187.23
IOTEX $88.76 $0.02 $0.14 $0.61 $7.31
TokenPay $7,285.27 $2.61 $18.35 $79.53 $954.37
IRIS Network $536.73 $0.21 $1.51 $6.54 $78.47
           

Table: Timely yield per 10,000 tokens

The competitive coins and the profits related to them are clearly visible through the table. The high profits in staking 10000 Livepeer Tokens are surmountable with exceptional monetary values showing up yearly, monthly, weekly and even on a daily basis. These multiplying numbers take me all closer to staking and eventually to the foundation of earning crypto passive income.

To me, it’s highly appealing to walk towards the light of crypto passive income. All of these staking mechanisms are just prior tunnels to it. Out of the ten listed tokens, I’ve refined three most competitive coins that could be staked to reap long term benefits. These are-

 

Livepeer (LPT)Livepeer (LPT), a cryptocurrency token based on Ethereum platform is one out of many resources to earn crypto passive income. LPT has considerably shown favorable price fluctuations till date.

  1.   It was built to provide an affordable, decentralized and reliable video encoding to enable business models.
  2. Token holders bond their token with a pre-classified node to perform work on their behalf and acquire newly minted token and fees.

Livepeer (LPT) price for today is $6.18 with a 24-hour trading volume of $58,577. It has a maximum supply of 14.3 Million coins. Poloniex is the most active exchange to trade Livepeer. Additional information about Livepeer coin can be found here.

 

  • Lisk (LSK)- Lisk is highly inclined towards user experience, in-depth documentation and developer support. Its open source blockchain platform is backed by Lisk (LSK) tokens, and works under the Delegated Proof of Stake (DPoS) consensus model. This helps the network to stay harmless by the delegates elected democratically.

With a market cap of $171,552,738 USD, Lisk has a 24-hour trading volume of $9,229,470. Lisk’s price for today is $1.45. CoinAll is the most active exchange to trade Lisk (LSK). Additional Information about LSK can be found here.

 

  • Cosmos (ATOM)– Cosmos is a platform for independent parallel blockchains. Through cosmos,  blockchains are able to interoperate. Earlier blockchains were unable to communicate with each other and were stranded. This led to a small transaction volume per second. With the advent of cosmos, this problem is solved. More information can be found here.

 

With a 24-hour trade volume of $161,719,175 USD, Cosmos is currently being traded in 73 active markets. The last learned price of Cosmos is $4.31. CoinAll is the most active exchange to trade Cosmos (ATOM).

 

I’ll begin to stake with these three coins as they give an edge to the cutting price fluctuations. I may further switch to other coins as and when I could breathe the air of downfall. Till then, I am right here, analyzing and researching about some other incoming coins that are all set to disrupt the market all over again. This will help me to stay ahead of the shape that market is going to take in future.

 

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I will be back with hands-on research on the potential staking platforms to stake crypto in my next writing. Since, it’s a competitive market and there are several platforms to stake and earn, it would be a challenge to compare and come up with the best. Regardless, I’ll dive and look for the  most suitable platform among all of them.

If you have not read my previous article then you should check that and by any chance if you have not my Telegram Group then i will strongly suggest you to join the group.

Stay tuned! Stay updated!

Signing Off!

Deepanshu Bhatt!

Precursor Towards Earning Crypto Passive Income

Deepanshu Bhatt – Being an enthusiast in blockchain technology, I’ve been encouraging certain projects to develop and proceed with the emerging blockchain technology. I also help them in raising funds and sustaining financially. I believe, if technology acts as a timely service, finances act as fuel to let the car of your business going. My major interest in ICOs and hands-on experience in adding value to the businesses have driven me towards a healthy collaboration with certain projects that have been successful in conducting their prior investment circle.

Through my outgrowing interests and collaborations, I’ve been earning some crypto, time and again. But, with time I realized some unpredictable price fluctuations in the market of stored/earned cryptocurrencies. I made through each day and looked out for endeavors that could set out a solution and support healthy income through trading. Because of its time-consuming nature, I opted out of trading to look for other possibilities that could be managed apace with my already existing projects.

Precursor Towards Earning by deepanshu bhatt

 

Taken by the urge to earn crypto passively, I solemnly surfed on how to make income. So I am looking for different methods and came across an all-time appealing concept of staking. Do you ever come across something so profound and feel like setting out on it right away? I thought of staking as one such thing which could be opt for right then and I started to gather insights on the methodical structure of staking as an earning mechanism. Any project/endeavor demands innovation and time to furnish, the challenge then has been to gather the metabolic insights and to have a deeper insight into staking.

Working harder and striving to earn might be difficult. What if it’s just about putting the hands-on research to stake crypto, interesting isn’t it? We just need to sit, study and stake. A plausible medium to earn crypto passive income is just a mile away. But, that mile took me what I’ve been doing for the past few years, intensive research and calculative analysis on which staking option to go for. I’m still open to research for there are more and more cryptocurrencies adding up each day.

Staking to me is a degree with a multiplicative scope for crypto passive income. People who staked in 2018 might be holding millions today. It’s never about time instead it has always been about opportunities and the right way to tap those opportunities. With this, I came across an idea to set out a chain uniting like people, who would want to gather and share engaging insights about staking.

crypto-staking by deepanshu bhatt
crypto-staking by deepanshu bhatt

 

May it be investors, enthusiasts and/or mere beginners, all of them would come together in a group. They will have access to a wider array of valuable insights through an open network. Here, they could discuss, share and might get a counter to their existing viewpoints.

To achieve crypto passive income goal, feel free to join my Telegram group and we will discuss more about this endeavor.

I’m all set to begin this journey, the journey towards passive growth. Will come up with my incoming insights about staking in my next writing. Till then, stay tuned!s

You can also contact me by email at “[email protected]