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⏰ Time Stamps ⏰
1:15 Proof of Stake Overview
3:07 Pick Number 1
6:19 Pick Number 2
9:10 Pick Number 3
12:00 Pick Number 4
14:33 Pick Number 5
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Tezos Video: https://www.youtube.com/watch?v=4UB6oz638uc
► Synthetix Video: https://www.youtube.com/watch?v=5vVb02obDDo
► Algorand Video: https://www.youtube.com/watch?v=VrHQGJtFDg8
► Decred Video: https://youtu.be/elfBK5QBVmo
► Staking Loom: https://docs.mythos.services/loom/loom-how/
► Delegating Tezos: https://medium.com/@info_22272/delegation-guide-how-to-delegate-tezos-984c986210fe
► Staking Synthetix: https://synthetix.community/docs/how-to-stake
► Solo Staking Decred: https://docs.decred.org/wallets/cli/dcrwallet-tickets/
📖 Other Sources 📖
► Proof of Stake: https://www.ledger.com/academy/blockchain/what-is-proof-of-stake
► Staking Rewards: https://www.stakingrewards.com/
► Tezos: https://tezos.com/
► Synthetix: https://www.synthetix.io/
1️⃣ Tezos (XTZ) 1️⃣
Tezos is a self amending blockchain protocol that supports smart contracts as well as the development of decentralised applications.
It was built from the ground up and is not based on any other blockchain or codebase. Tezos also has a pretty unique consensus method called Liquid Proof of Stake of LPoS.
A baker commits token deposits, then receives their rewards for signing and creating blocks. In order to independently bake on the Tezos blockchain, you need to hold at least 8000 XTZ and run full node.
2️⃣ Synthetix (SNX) 2️⃣
Synthetix is a cryptoasset-backed network that enables the creation of on-chain synthetic assets.
It’s a platform that enables you to create synthetic crypto assets that are linked to the value of some other asset. This can be synthetic fiat currencies, commodities or even other cryptocurrencies.
It was built on the Ethereum blockchain and these ERC20 synthetic assets are collateralized by the Synthetix Network Token (SNX). Users are paid a pro-rata portion of the fees generated through activity on Synthetix.Exchange.
As an SNX staker you will also benefit from the inflation on the protocol. Currently, there is a 1.25% inflation rate on the network where SNX holders will earn those newly minted tokens.
3️⃣ Algorand (ALGO) 3️⃣
Algorand have developed a permissionless, Pure Proof-of-Stake protocol with open participation and transaction finality.
According to some early stats from their network, they say that they are able to achieve about 1,000 transactions per second.
You will also be able to build decentralised applications on layer 1. So, a decent alternative for dApp developers who are hamstrung by the slow networks on other blockchains.
The native crypto in the Algorand network are ALGO and you can earn rewards for staking them. For every block that is minted, every user on Algorand receives an amount of rewards proportional to their stake.
4️⃣ Loom Network (LOOM) 4️⃣
Loom is a platform as a service that will allow Ethereum based decentralised applications to run on a sidechain.
The main benefit of doing this is that it provides a more scalable environment for these decentralised applications. Loom also had integrations with Bitcoin, Ethereum, Binance Chain and Tron.
LOOM operates a Delegated Proof of Stake (dPoS) consensus mechanism. You will delegate your LOOM tokens in order to earn a portion of the staking returns on the network.
5️⃣ Decred (DCR) 5️⃣
Decred was launched in 2016 and is a unique hybrid proof-of-stake and proof-of-work blockchain. PoS holders verify and authorize transactions once they have been mined by PoW miners.
There is also a governance component here as the Proof-of-Stake voters will approve or reject any proposed rule changes to the Decred network.
Users will time lock their DCR to obtain what are termed ‘voting tickets’. These ticket holders will then earn 5.8 DCR per block or about 1.16 Decred per ticket holder
Voting is done through the use of a lottery system to select active voting tickets for a block.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#staking #crypto #altcoins #tezos #synthetix #algorand #Loom #decred