Big News! September 17th
POS 3 WhitePaper will be released on Friday. We Will be the only Pos coin with POS 3. Implementation to come with HTML5 Wallet.
I've seen several other coins claiming to have HTML 5 wallets now. What is POS 3 suppose to bring to the table?
Is a significant update to the code, whitepaper will be out friday.
POS Explained:
http://en.wikipedia.org/wiki/Proof-of-stake"#Peercoin's proof-of-stake system is based around the concept of "coin age", a number obtained from the product of the currency amount held times the amount of time it has been held for. When generating a proof-of-stake block, the user sends some money to themselves, consuming their coin age in exchange for a preset reward. This minting transaction becomes more likely to succeed over time until a valid block is found, generating a new block on the blockchain and a payout for the proving user.[2][3][4]
This process secures the network and gradually produces new coins over time without consuming significant computational power.[5]
Both proof-of-work and proof-of-stake blocks are used in Peercoin, although the main #blockchain is determined by the highest total consumed coin age (from proof-of-stake generation) instead of the total combined difficulty of the chain (determined by proof-of-work blocks, as in Bitcoin). Peercoin's developer claims that this makes a malicious attack on the network more difficult.[2][6]
The first 100% proof-of-stake system was #NXT ."
Also READ:
https://cryptocointalk.com/topic/700-proof-of-stake-explained-rough-draft/AND:
http://bitcoinmagazine.com/6528/what-proof-of-stake-is-and-why-it-matters/Now hopefully fellow #iocoin users here and investors of other POS coins can understand much better the significance of POS and importantly, why it is VITAL to keeping improving it.
SO......
Proof Of Stake is also the process that works out 'minting' which we all know as the small amount of interest that you get by
staking your wallet.
Staking your wallet is very important, because you help support the network.
What POS 3 will bring to the table is further improved security to the block chain, which should help almost banish (i say almost as nothing is impossible) 51% attacks and 'Double Spending'.
It is a FIRST in crypto, yet again, #iocoin is leading the way in innovations, many people will not and do not understand POS, but it is the lifeline of the #crypto coin. It is more important, than any fancy feature you cna think of, without a solid POS, the coin will fail.
POS 3. Is quite groundbreaking in the way it solves the problems faced by ALL other POS coins that do not have POS 3.
Further more, it takes a highly skilled Developer to create a new POS system. Needless to say #I/Ocoin has some of the best developers in the business.
Just because they are not rated by #cryptoasian and as they can not be public, people will just have to use common sense and only need to look at what I/Ocoin has developed in quite a short time, to see they are as good as we say.
And just for the record, most of those 'public Devs' are hiding behind fake profiles, so take that POS rating system with a pinch of salt.
Regarding the
HTML5 wallet. There is a reason no-one has done it before, again it takes
TOP CLASS DEVELOPERS to create a new desktop wallet not based on the old QT client. Again, we are close to releasing this, as our loyal followers will see. Others coins talk the talk, but only #iocoin walks the walk!
