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Author Topic: POW POS Etc  (Read 868 times)
bradleyb5155 (OP)
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September 23, 2014, 01:56:33 AM
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Could someone please put together a list of the "different" types of crypto currencies, for example we have POS, POW etc. Im confused to what each mean and how many there are, please provide a few examples of what coin falls into which category.
Thank You
digitalindustry
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September 23, 2014, 02:10:21 AM
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Welcome to the
Enjoy your stay.

- Twitter @Kolin_Quark
nsimmons
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September 23, 2014, 02:24:33 AM
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Welcome to the
Enjoy your stay.

these aren't the coins your looking for...

Willisius
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September 23, 2014, 02:39:00 AM
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Could someone please put together a list of the "different" types of crypto currencies, for example we have POS, POW etc. Im confused to what each mean and how many there are, please provide a few examples of what coin falls into which category.
Thank You

Coin Generation / Securing the Blockchain:

PoW (Proof-of-Work): Mining entails peforming a hashing algorithm on data until it meets specific criteria. This requires using computational power (work).
Examples: Bitcoin (original implementation of PoW), Litecoin, Dogecoin

PoS (Proof-of-Stake): Staking (sometimes called "minting") entails having coins that haven't been spent for a certain amount of time (this time is called "coin age"). When staking, you actually send coins to yourself, thereby reducing the coin age to zero, proving your "stake."
Examples: Peercoin (original implementation of PoS), Cinnicoin, Mintcoin

If you have another type of coin that needs clarifying, I'll just update this post so it can all be linked to conveniently.
scv00
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September 23, 2014, 02:29:04 PM
 #5

    Proof of Reserve (PoR)

https://bitcointalk.org/index.php?topic=734477.0

Proof of Reserve (PoR) is a brand new block generation method based on PoS but having additional features

  • Reserves held by users are vaulted balances for a specified timeframe, having a specified return option.
  • Returns are calculated by the network and paid every 6 hours to active balances.
  • The amount of the return is decided by the longevity of the ReserveRate you choose.
  • Reserve rates are

    • 7.5% per year for a Reserve of 3 days
    • 8% per year for a Reserve of 7 days
    • 8.5% per year for a Reserve of 10 days
    • 9% per year for a Reserve of 15 days
    • 9.9% per year for a Reserve of 30 days

  • Reserved units can be released from Reserve before the end of the reserving period for a fee of 0.5% of the Reserved amount. The fee is sent to a burn address so it helps in balancing the inflation.
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