Pool of Stake is aiming to create a pool where Proof of Stake (PoS) token holders can get together to stake: generating rewards for themselves and securing their favorite blockchain.
Wait, what does this mean?
Let us put you in context really fast. With a slow transaction speed, astronomically high fees, and a huge carbon impact, Bitcoin and other first generation blockchains proved to be unfit for mass adoption. This was due to the algorithm used in this type of blockchains, called Proof of Work (PoW).
The solution to this problem was to implement a new algorithm, called Proof of Stake (PoS). We will not get into technicalities, but it basically solves the aforementioned issues with PoW. PoS is a lot faster, more scalable, and more environmental friendly than Bitcoin. The only issue is this: wealthier stakers have a higher chance of getting selected to receive the staking reward. This leaves small players out of the game, since they have few odds of receiving rewards.
How will Pool of Stake solve this?
Pool of Stake is an interesting project bacues it aims to remove the entry-barriers to small players. It will achieve this by letting PoS coin holders of any type pool their funds together in order to increase their “stake”. Since the odds of being selected to receive rewards depends on wealth, a big pool would have a considerably higher balance than most individual wallets, and thus, higher chances of being selected for the rewards.
In terms of security, Pool of Stake is taking a step forward. It plans to reduce risk by using several measures to protect users funds. Initially, users private keys would be hashed, this way only they can access their deposited funds and their rewards. Additionally, the team is already investigating the best applications of multi signature wallets in order to keep the funds safe.
To make things more interesting, the team has a bold objective: to make this pool as decentralized and trustless as possible. Once of the ways it plans to achieve this is by creating a smart contract on different PoS blockchains, where users will be able to stake together while staying owners of their coins. This is one of several research objectives that Pool of Stake is ambitiously aiming to deliver.
Join the public presale – 8/06/2018 12:00 CEST
Pool of Stake is giving a stellar opportunity to early adopters. Check out the following terms of its presale:
Discount rate: 26%
Bonus rate: 35%
PSK unit price: 0,22 €
Stop date: 20/07/2018 12:00 CEST
About Pool of Stake
Pool of Stake started in June of 2017, when blockchain experts Andrea Balzini and Davide Borella teamed up with Dario Calderoni, an expert in supply chain management and e-commerce, with the clear objective of creating a pool for PoS blockchains.
The team has never lost focus on the main objective and has consistently added reputable members to the team. The next important date for the project is the public presale, starting on the 18th of June of 2018.