Proof-of-stake (PoS) is a method by which a cryptocurrency blockchain network aims to achieve distributed consensus. While the proof-of-work (PoW) method asks users to repeatedly run hashing algorithms or other client puzzles to validate electronic transactions,[1] proof-of-stake asks users to prove ownership of a certain amount of currency (their "stake" in the currency). Peercoin[2] was the first cryptocurrency to launch using proof-of-Stake. Other prominent implementations are found in ShadowCash, Nxt, BlackCoin, NuShares/NuBits, Qora and Nav Coin.[3] Ethereum has planned a hard fork transition from PoW to PoS consensus. Both Peercoin and Decred[4] hybridize PoW with PoS and combine elements of both consensus approaches in an attempt to garner the benefits of the two systems and create a more robust notion of consensus.
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