Topic: best coin for staking benefits (Read 2428 times)
CUBE
Pos coin is very popular now
Ethereum will become a PoS coin some time next year. That could reduce the energy cost to support the network.
Pos coin is very popular now
I want to know that which are the best coins for staking benefits and how to get all POS coins list
did you tried raiblocks? a very new coin but growing very fast day by day. one mrai selling for 200+ satoshi in altcoin marketplace. it has very benefits.
Basically someone leaves his wallet offline for a few weeks and lets his coin age build up,
That is not a history attack. Just about every PoS coin also removed the coin age variable for staking due to it's vulnerabilities. Now, staking for most coins is just coin weight where if you own 30% of online stake, you get 30% of blocks. This means if you own a small amount of stake, you will basically get nothing and small stake holders will need to "pool" their stake mimicing how PoW pool mining works except with stake.
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That is not a history attack.
It can be if you don't sync your client before letting it stake and it is a weak coin with extremely low difficulty and low active network connections, which is what happens if someone does not encrypt the wallet, it tries to stake before being fully synced. (Which against a strong coin's chain it all will orphan, until fully synced, which is what happens the majority or the time.)
(But against a weak coin, it can overwrite the blockchain from it's last time synced with the network)
(ECCoin had 2 weeks wiped out once, their difficulty was .0002, Dev Griffin put out the previous blockchain for download before the overwrite and added a new checkpoint to the wallet software, and as of today they are still alive, barely but the coin network is still up.)
(Just so you are aware , History attack can be survived , even by a weak PoS coin, ECC proved that.)
Sorry , Blackcoin is the only one I know of that has removed coin age, they went to # of confirmations instead.
What other specific coins do you believe removed it?
And if are referring to Next & Bitshares, like you said who really considers them PoS coins.
* Side Note: There was a possible security vulnerability in regards to Next Forger system that allows someone to mimic twice the amount, but they never fully investigated it.
All of the other ones I know of still use coin age.
hashProofOfStake <= [Coin-age] x [Target]
[Coin-age] = [amount of coins] x [days in stake]
Target = Difficulty
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This means if you own a small amount of stake, you will basically get nothing and small stake holders will need to "pool" their stake mimicing how PoW pool mining works except with stake.
This may be the case for some PoS coins that have extremely low Minimum Age before Stake, but it is not the case for coins that Minimum age before stake is 15 days or more. To discuss this in greater detail , you will have to specify which specific PoS coin you are referring to, as the different PoS Specs do make a difference.
ZEIT , MINT, TEK , & many others do not require any pooling.
FYI:
https://chainz.cryptoid.info/zeit/block.dws?2373543.htm
The above is a link to only 411 ZEIT in 1 block and it staked.
FYI2:
Coin-age used correctly can help protect a PoS coin,
example: Even if someone purchased 51% of the coin, he would not have 51% until the age of his coins was also equal to or higher than the age of the other staking coins. That will be very hard to calculate the actual age of every single block, and due to the fact people stake at different times , no way for him to calculate exactly when would be best to use his coins to achieve the maximum result. Easier to hack a bank security by far.
Plus if he time it wrong and uses any of his stake , it would be 20 days before he could even make another attempt against ZEIT or Mint and during that time the other 49% has staked and may have a higher number than him, before he can even try again.
Diabolically Clever , when you examine it.
Basically someone leaves his wallet offline for a few weeks and lets his coin age build up,
That is not a history attack. Just about every PoS coin also removed the coin age variable for staking due to it's vulnerabilities. Now, staking for most coins is just coin weight where if you own 30% of online stake, you get 30% of blocks. This means if you own a small amount of stake, you will basically get nothing and small stake holders will need to "pool" their stake mimicing how PoW pool mining works except with stake.
Here is a List of PoS coins updated by BitcoinNational
https://bitcointalksearch.org/topic/m.14385636
https://bitcointalksearch.org/topic/m.14385636
The only PoS coins not vulnerable to history attack are Bitshares and NXT due to "rolling genesis block" or "decentralized checkpoints", whatever you want to call them. The act of implementing this brings it's own security problems though. In Bitshares, you don't really stake, and in NXT, there's currently no point in staking, thus, there is no point in staking any PoS coin.
What's a history attack?
Ridiculously Low Difficulty is a security risk in either PoW or PoS.
https://en.bitcoin.it/wiki/Weaknesses
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Generate "valid" blocks with a lower difficulty than normal
Using unmodified Bitcoin code, an attacker could segment himself from the main network and generate a long block chain with a lower difficulty than the real network. These blocks would be totally valid for his network. However, it would be impossible to combine the two networks (and the "false" chain would be destroyed in the process).
"Block chain length" is calculated from the combined difficulty of all the blocks, not just the number of blocks in the chain. The one that represents the most computation will win.
Using unmodified Bitcoin code, an attacker could segment himself from the main network and generate a long block chain with a lower difficulty than the real network. These blocks would be totally valid for his network. However, it would be impossible to combine the two networks (and the "false" chain would be destroyed in the process).
"Block chain length" is calculated from the combined difficulty of all the blocks, not just the number of blocks in the chain. The one that represents the most computation will win.
History attack can happen if you have a very weak coin,
IE: Low amount of coins staking for PoS with an Extremely low difficulty per block like .0002 for PoS.
Basically someone leaves his wallet offline for a few weeks and lets his coin age build up,
then if the coin is weak with only like .0002 difficulty per block, and he has a large amount of coins,
If his Coins stake at a higher difficulty and with more actual coins per block , he can actually overwrite the blockchain as it will conform to his chain and overwrite the other. Some PoS & PoW coins use a checkpoint server to prevent this, other PoS coins have a billion coins or more and that blocks this type of attack.
Little Fear mongering , PoW users like to spread, unless the difficulty numbers are like .0002 and the coins has very few coins staking , there is no real danger of this.
But if you are worried about such, you can still get PoS coins that either have over a billion coins , or a checkpoint server.
Some Coins with over a Billion Coins Include
Noble
Mint
ZEIT
Coin using a Checkpoint Server
HoboNickel
Peercoin
FYI:
IMO,
If one of the ASICS manufacturers has a Break thru that allow them to have a much better version of ASICS, than commercially available.
They could Sync with the BTC blockchain, disconnect from the internet, then run their Advance New Multiple ASICS against each other and generate a higher difficulty per block, do this for a few months, then reconnect to the internet and overwrite the Bitcoin Blockchain. (In Theory)
Although, with such an advance ASIC, they could just as easily totally dominate the current BTC generation by easily going over the 51% , and control the BTC network.
Ghash has already owned BTC for ~24 hours with 55%
http://www.coindesk.com/bitcoin-mining-detente-ghash-io-51-issue/
While no Major PoS coin has had a history rewrite.
FYI2:
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no point in staking any PoS coin.
Reasons for staking is1. Helps provide Additional Security to the coin's Network , more staking coins the more secure the network
2. Creation of New Coins, so you can grow your amount of coins
3. One thing PoW miners almost never see, Profit from selling your stakes while keeping your Principle.
The only PoS coins not vulnerable to history attack are Bitshares and NXT due to "rolling genesis block" or "decentralized checkpoints", whatever you want to call them. The act of implementing this brings it's own security problems though. In Bitshares, you don't really stake, and in NXT, there's currently no point in staking, thus, there is no point in staking any PoS coin.
What's a history attack?
The only PoS coins not vulnerable to history attack are Bitshares and NXT due to "rolling genesis block" or "decentralized checkpoints", whatever you want to call them. The act of implementing this brings it's own security problems though. In Bitshares, you don't really stake, and in NXT, there's currently no point in staking, thus, there is no point in staking any PoS coin.
I want to know that which are the best coins for staking benefits and how to get all POS coins list
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