EOS, Tezos (XTZ), Proof of Stake (PoS)–In a surprising turn of events for crypto-related news, popular financial outlet Bloomberg is featuring a piece on the benefits of staking coins through bear market conditions, a process familiar to investors of PoS currencies.
Proof of Stake, which forms the basis for several top cryptocurrencies like EOS, Cardano (ADA) and Tezos (XTZ), provides a way for current investors willing to hold their coins in wallets (i.e. not on exchange) to reap the benefits in the form of regular token payouts. According to Bloomberg, this method of earning coins while going long through the bear market is just one way to combat the severity of recent price movement.
Rather than Proof of Work (PoW) mining, which rewards users for turning computing resources into hashing power in the form of freshly minted coins–a process utilized by Bitcoin, Ethereum and other high profile currencies–PoS payouts are based upon the staked amount users hold in their wallets. For…
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