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A Proof of Stake system requires the prover to show ownership of a certain amount of money, or stake. Proof of Stake works similarly to PoW (Proof of Work) except that instead of computers validating the network and receiving rewards equivalent to their relative computing power, PoS uses token holders. Those who hold tokens can “stake” their tokens (staking means to temporarily place the tokens in a locked smart contract — until staking is over) and in exchange, confirm transactions and receive rewards based on the relative number of tokens held.
I love getting paid GAS on my NEO
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What is the difference between proof of stake and inflation?
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By inflation, in particular Bitcoin,we understand the rise in the amount of coins in circulation. Proof of stake is the protocol/method used by the particular cryptocurrency to get the transactions confirmed and lengthen its blockchain.
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Please check my thoughts on a crypto currency ecomomy.
@weddingdresses
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CloakCoin is a PoS Coin with 6%
www.cloakcoin.com
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