Proof of Stake for Dummies by radagast

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cryptocurrency · @radagast · Nov 9 '17

$2.21

Proof of Stake for Dummies

Trolling around tonight I found this [link](http://cryptorials.io/glossary/proof-of-stake/) that gives a pretty simple explanation of what Proof of Stake (PoS) does/means, as well as lists the variants on the PoS technology. I've really taken a backseat to my trading and buying of crypto since August of this year -I've just been pretty burned out and trying to figure myself and life out. 

I've mostly been hodling and watching my PoS wallets grow -I am staking BitBean, PIEcoin, Signatum, Stratis and BitConnect. The biggest problem I've encountered is when my PC restarts or crashes without my knowledge and I lose that precious time staking so I've been trying to devise a workaround. 
<center>![](https://steemitimages.com/DQmeGxLYzdLcmATtds4FyA4MrnAmBa8BaJfb2QZDJypeziA/image.png)</center>
My current project is to spin up a Raspberry Pi, hardwire it into my router and just let that baby run headless, essentially as a glorified desktop wallet holder.

👍 booster, randowhale, radagast, webdeals, lovejuice, botdot, rakerumon, bubusik, jahtech, pastbastard, mwaqar17, bvvnmanikanta, resteem.bot, nathanieloamhen, heeerooo, kpd-244, xeraser, anomaly, deluge, manikanta591, kkugel2, onejoe

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@booster · Nov 9 '17

$0.04

<p>This post has received a 1.25 % upvote from @booster thanks to: @radagast.</p>

👍 radagast

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@jahtech · Nov 9 '17

$0.04

Are you getting anything back from stratis staking ?

👍 radagast

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@radagast · Nov 9 '17

$0.15

No, but I keep it running just in case. I think I remember reading on their webpage that the staking was set to happen in the future -and I read that over the summer here in the US (not sure where you live).

👍 radagast

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@kpd-244 · Nov 9 '17

good post

👍 radagast, kpd-244

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@lovejuice · Nov 10 '17

<p>This post has received a 5.36 % upvote from @lovejuice thanks to: @radagast.  They love you, so does Aggroed.  Please be sure to vote for Witnesses at https://steemit.com/~witnesses.</p>

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@mdo · Nov 9 '17

$0.04

Glad to see another good post.
 your post resteemed!

👍 radagast

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@resteem.bot · Nov 9 '17

$0.04

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👍 radagast, loler555

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@resteembot · Nov 10 '17

$0.03

Resteemed by @resteembot! Good Luck!
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@robertchr · Nov 10 '17

$0.05

Proof of Stake  Love it

👍 robertchr, radagast

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@woojoo · Nov 9 '17

$0.04

If you are ready to run a Pi 24/7 and got a free HDD you could also "mine" storj with the setup.

👍 radagast

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@radagast · Nov 9 '17

$0.17

Not a bad idea, either. I'm also looking forward to [Chia's](https://techcrunch.com/2017/11/08/chia-network-cryptocurrency/) release in Q2 of 2018 -Bram Cohen of BitTorrent fame's idea of a proof of space as well as a proof of time, to mitigate network attacks. 

Super curious to see what a pioneer in the p2p filesharing world brings to blockchain.

👍 radagast, pastbastard, woojoo

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@woojoo · Nov 9 '17 (edited)

$0.02

Indeed but if you want to use disk space right now to mine there is sadly no mature alternative to storj, as far as i know. And its well documented even in raspberry pi cases. [Guide for raspberry pi storj node](https://blog.overnetcity.com/2017/04/29/build-storj-io-node-with-extra-drives-raspberry-mecano/)

👍 radagast

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2 replies