Ongoing Hiked Trend Of Popularity Of PoS Projects - Report.

Ongoing Hiked Trend Of Popularity Of PoS Projects - Report.

2019-03-20 | Selina Mathew

Ongoing Hiked Trend Of Popularity Of PoS Projects - Report.

In line with a recent report published by ‘Diar’, the ongoing hiked trend in crypto’s looks set to continue as major PoS [Proof-Of-Stake] projects are launched this year.

PoS, is an algorithm utilized in several renowned cryptocurrencies like Eos [EOS], Dash [DASH] along with Tron [TRON], is accounting for a rising amount of value within the ecosystem.

Within this year, over several a dozen of additional PoS projects are expected to launch, Diar added, on the back of the 'debut' effort from Cosmos [ATOM], a Proof-Of-Stake project that successfully raised around $17 Mln in its ICO [Initial Coin Offering], earlier in 2017.

Many coins solely use PoS to some extent, with the proportion of total supply “staked” by network participants ever-changing. Staking refers to a participant proving they own a certain number of coins as a part of the network’s consensus mechanism.

With Eos [EOS], the staked total has reached  47% of overall supply, creating it the foremost staked coin in terms of dollar, in line with Diar’s calculations, at aorund $1.8 Bln.

2nd is Dash [DASH], with $431 Mln staked, and is followed by newly-launched Cosmos with $309 Mln. In total, staked funds are valued around $4 Bln.

“Eos [EOS], whose mainnet launch was met with hiccups because of low staking participation, presently represents around half of the staked worth on PoS 'blockchain' networks alone,” the publication stated.

As reported last month, MIT is presently working on a brand new format of cryptocurrency 'supported' by PoS, whereas the major altcoin by market capitalisation like Ethereum [ETH], is ready to transfer to the protocol by 2021.

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