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What is POS Coin (What is POS)?

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What is POS Coin? POS is a type of proof-of-stake blockchain. Its main purpose i

What is POS Coin (What is POS)?

What is POS Coin? POS is a type of proof-of-stake blockchain. Its main purpose is to allow holders to obtain tokens by locking their tokens, or they can obtain rewards and profits by staking them and exchanging them for other tokens.

In the Ethereum network, users delegate their ETH to a protocol’s validator (node) and they use the protocol for voting. If a project decides to delegate it to them, the validator’s account will be frozen, resulting in asset loss or untraceability. What happens when these funds move from the system to a smart contract? This is because anyone can execute transactions on the chain. This allows every participant on the network to become a node operator without the additional risks, collateral, and maintenance costs. This is also a significant challenge for the whole community, especially for those who don’t control their own funds.

POS consensus mechanism has stronger decentralization attributes compared to traditional currency: investors can exchange fiat currencies anytime and anywhere; banks have greater choices to manage the payment settlement market in the digital economy; financial institutions have more choices to manage various cryptocurrencies.

What is POS?

Pocket is a blockchain project that was considered a leader in the blockchain field during the 2017 ICO craze. What is POS? According to official descriptions, it is a system similar to Bitcoin, which allows anyone to create and manage their own accounts (public-private keys) and perform transfers or other activities through these accounts. The network is controlled by these addresses.

PoC, in simple terms, allows people to put their wallets, passwords, and other assets into a contract. In their own words, this allows them to play the role of a validator and they can also generate some tokens as rewards for the validators.

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