As you may know, digital currencies and their underlying blockchain technology are built around the community consensus, where no central authority has the power.
Instead, the changes to the distributed ledger have to be agreed upon by the majority.
For empowering this idea, most blockchains take on either Proof of Work or Proof of Stake consensus algorithm.
Mainly, both of these processes prove that there’s something that has been done to validate a transaction.
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Top Proof of Stake Coins
Now, those who are looking to get involved in the proof of stake cryptocurrencies ideally want the best ones.
So, here we are going to break down the most profitable ones you can get involved with right away.
DASH is a popular cryptocurrency widely known as Digital Cash. it is one of the pioneer cryptos to implement of PoS consensus mechanism.
DASH is a unique crypto that is built upon Bitcoin’s core with additional privacy and quick transaction features like InstantSend and PrivateSend.
It advocates itself as P2P decentralized electronic cash and intends to be as liquid as real cash that we generally use in our respective countries like INR, USD, EUR, GBP or CNY.
NEO is the leading Chinese blockchain startup.
The NEO team labels itself as the “distributed network for the smart economy.”
The phrase represents both the currency and the name of the blockchain. However, it also has a second currency called GAS.
PIVX (Private Instant Verification Transaction) is considered a privacy token that is the result of a DASH fork from 2016.
Unlike most other proof of stake projects, PIVX has no stake cap, which means that you can put in any amount to get started.
Lisk subverts that and, instead, focuses on ease-of-use.
Started back in 2014, OkCash is a long-time digital currency startup. In fact, it is one of the first ever proof of stake projects.
The coin offers a controlled way to handle all the transactions and vying to be a universal payment system.
Funnily, it started as a PoW project before moving to PoS.
6. NAV Coin
NAV Coin is a unique coin as it uses two blockchains. Yes, that’s the truth.
Similar to OkCash, NAV Coin has been around since 2014 and is built off of Bitcoin’s core language. It uses dual blockchain for moving transactions much faster with added security.
ARK is a scalable and quick service that connects blockchains together with its SmartBridge technology.
It doesn’t matter where you are using it, but it can link with any other distributed ledger. Similar to that of Lisk, ARK uses delegated proof of stake, however, there are only 51 delegates here.
Stratis is a business-centric blockchain. Organizations use Stratis for designing their own dApps without any knowledge of blockchain.
It is exceptionally streamlined as Stratis is compatible with C# and other general coding languages.
Also, Stratis is scalable as it utilizes sidechains to verify the transactions. This project started as a proof of work but eventually transitioned to proof of stake.
Reddcoin is aimed at being the tipping currency of social networks. By using PoS cryptocurrency Reddcoin, you can tip anyone for any contest that you like on various social media platforms.
Being a PoS currency, Reddcoin can also be staked in a wallet that offers handsome returns to its holders.
Neblio is a next-generation enterprise blockchain solution that is building the tools and services for bringing blockchain technology to the enterprises of all size in an easy, fast, and secure way.
Therefore, it has a PoS consensus mechanism for securing the blockchain/DLT-database.
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