Understanding Proof of Stake from the Reggaesteem Tribe

in #reggaesteem9 months ago

With the arrival of the Blockchain it also brought with it the process called Mining. It is through this one that the Cryptcoins are created that are distributed and moved through the different platforms, including Steemit. The token steem goes through this process for its creation.


Source

This basically consists of the use of high-powered processors that have the ability to perform the resolution of complex algorithms, once resolved, the tokens are created. As time goes by and the limit number of tokens created approaches, the difficulty of these algorithms increases. That's why (for example) when Bitcoin was created, it could be generated easily with a laptop. These in turn have a high consumption of electrical energy for its operation, having a negative impact on nature, global warming, among other things.

This process of verification of each of the transactions that are executed in the Blockchain is carried out at the same time in different computers, is in good measure what gives the characteristic of Decentralization. This distributed way of validating the information does not allow any transaction to be duplicated. This is known as Proof of work (PoW).

It's a wonder really.

The gain in all this process could be compared to a competition, the one who reaches the goal first is the winner. The one who first forms a block within the chain. Forming a block is the equivalent of completing the resolution of these complex algorithms. And the prize in this case is a good portion of that cryptomone that has been formed.

Do not lose sight of the fact that the more power you have to carry out the transactions, the more possibilities you have to win, but the consumption of electrical energy is also much higher.

I hope I have made this point clear, which I am explaining in simple terms, because it is actually quite complex if we get into technical terms. And I must emphasize that I am not a specialist in this area, but as I am very interested in the world of Cryptomoney I have given myself the task of facilitating the process, in addition to helping others a little in this way.*

Well,now I want to talk about something that starts from the above but is intended as an improvement in some aspects,and that's what the Reggaesteem tribe is based on,which is:

Proof of stake

Surely many have been watching and reading that next January 3rd will be the first, a few months after the launch of this tribe.

what is this process?

I could say that it is an alternative for the validation and verification of the transactions and/or the blocks of the chain but with the added benefit of not needing big computers (also expensive) nor high energy consumption.

The latter goes hand in hand with an important consideration in terms of care for the planet, it should be noted.

You're probably wondering:

How do you do it if there are no big computers?



Edited ImageSource

The validator of these transactions is randomly chosen depending on the amount of the token you have on Stake and the time you have with it. This will give you a specific age, which allows the system to determine that you are a trusted user to perform the validation.

So does this mean that it's worth making stake?

*Yes, of course it does. Not only because of this but with more stake you have the possibility to generate more benefits in who you vote and also by curating you also benefit.

Because you could receive an additional benefit by showing confidence by keeping your tokens staked.

You can say that there are benefits in the staka test when compared to the working test:

There is no need for expensive hardware, you get much more loyal validators demonstrated by the amount of stake you have and by the duration of the stake, in general the validation is faster.



Source

I don't know if I have made the differences clear, but it is the result of an investigation that I did a little bit to clarify this point that is about to be executed in Reggaesteem and most probably many people don't know what it is about yet.

In the case of this tribe that I bring as an example there is another additional benefit, which is that you can have the option to enjoy travel packages in Jamaica with a certain amount of jahm tokens in stake for more information on the following link

Thank you so much for reading me.

See you January 3rd.

I invite to be a part of

I invite you to follow the tribe



Posted via ReggaeSteem | Reggae Culture Rewarded

Sort:  

Nice dissection of the finer details. PoS means something of value is being formed, especially for a tribal community. The tribal part will soon be something much greater than just that. Keep JAHMin brother

Posted using Partiko iOS

As you say, it will be something much bigger than the present. But it's important to live the process and better yet, help the process.

Thank you @conradsuperb

Thanks for making a very complex concept somewhat clearer.

It is necessary to simplify the processes of understanding so that people know what it is all about, and they become more and more familiar with this technology and all its nuances.

Thanks @missaj

Very good reggaesteem

Yes, It's very good.