- Thread Author
- #1
Proof of stake is a phrase that is being used on the on the cryptocurrency language that means the coins that can be stacked and earn staking rewards must validate a proof of stake.
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What do you understand by the 'proof of state ' on the normal man language?
- Thread starter Xtynehappy
- Start date
Proof of Stake or PoS works similar to a bank deposit where you put money in and earn interest. There are several cryptos that implement the PoS consensus mechanism such as Ether, Solana, Tron, ADA etc., which you can store either in a personal wallet or a crypto exchange and lock or freeze for a certain period and you will get rewards. Stakers or coin holders can contribute to validating transactions according to the amount of coins locked.
- Thread Author
- #3
In most circumstances the proof of state is the one associated in the staking of cryptocurrency. For staking to take place the coins involved must be pos approved.