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Proof of Work (PoW) is nothing new to the cryptocurrency world. A miner’s hardware (CPU, GPU, or ASIC) solves a string of complex algorithms that are bundled together as a block on ledger. Mining verifies the transactions and then creates new currency units for a particular coin. Miners are rewarded for blocks. PoW mining has been a great way for crypto enthusiasts to generate residual income, but recently there have been newer, more eco-friendly ways to complete this goal.
Proof of Stake (PoS) requires the user to “stake” or hold coins in their wallet. This concept of staking allows for the user to validate transactions according to the amount of coins that they hold. In some instances, the user must leave their wallet open on their computer in order to verify transactions. In most cases, the more coins that a person is staking the bigger share of the block they are rewarded. PoS proves to be more eco-friendly since it does not require the electrical power that miners use for PoW.
Q1 of 2018 has been bombarded by new masternode (MN) coins. A masternode is a server on a decentralized network that is responsible for enabling specific services for a coin, such as increasing privacy of transactions, instant transactions, and direct send. To run a MN, the host must hold a sizeable amount of coins dictated by the development team, a decent understanding of Linux command line, and access to a server or virtual server. After setting up a MN, the host will receive reoccurring payouts that can be outrageously profitable depending on the coin. Masternodes are similar to PoS coins, but one shouldn’t be confused for the other.
PegasCoin ($PGC) had an innovative breakthrough in August of 2017 as it introduced Depository on Blockchain (DOB) technology. The DOB opened in December and allowed for the user to deposit 100, 1,000, or 10,000 for 1 month, 3 months, or 6 months. Upon completion of the deposit, the user would be returned their coin deposit as well as the interest. Currently, the DOB is full and you must wait to utilize it after another users DOB is complete.
Pegas developers have been working in the meantime on DOB2.0. DOB2.0 is a hybrid MN, staking, and deposit (not to mention, Pegascoin is a Ethash algo PoW coin)! It is similar to a masternode coin because you must have a set amount 50,000 $PGC to use the DOB2.0. It is similar to staking because the user will get daily accruals. However, unlike the first DOB the user can leave the coins in their wallet.
This isn’t the end of the first generation DOB. Each block will reward DOB 4 $PGC. 2 $PGC will go to DOB, 1.75 will go to DOB2.0, and .25 will go to the development team. First generation DOB rewards will be slightly less and will allow for fewer users to utilize it, while DOB2.0 will allow unlimited accounts.
Join the Pegas Community:
- Website: http://pegascoin.com
- Block explorer: http://explorer.pegascoin.com
- Block explorer (additional): http://explorer2.pegascoin.com
- Network stats: http://netstats.pegascoin.com
- DOB1.0 stats: http://dob.pegascoin.com
- Wallet Win64 v1.3 full: http://pegascoin.com/Downloads/Pegascoin_wallet_v1_3DOBfull.zip
- Win64 node v1.1(go-client) only: http://pegascoin.com/Downloads/Pegascoin_node_v1_1only.zip
- Source code go-client v.1.1: https://github.com/Pegascoin/go-Pegascoin
- Webwallet: https://pegaschain.net/
- Webwallet via MyEtherWallet: Custome node Pegascoin URL https://pegaschain.net PORT 3000
DOB2.0 is set to open after the 990,000 block (should occur in August 2018) so get to work accruing 50,000 $PGC as the DOB2.0 can potentially very profitable. As always, make sure to follow me @CoachCryptos. Happy Mining!