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@ -150,16 +150,16 @@ In this chapter, we will concentrate primarily on the technical characteristics
Proof of stake is a system by which existing owners of a currency can "stake" currency as interest-bearing collateral. Somewhat like a certificate of deposit (CD), participants can reserve a portion of their currency holdings, while earning an investment return in the form of new currency (issued as interest payments) and transaction fees. Proof of stake is a system by which existing owners of a currency can "stake" currency as interest-bearing collateral. Somewhat like a certificate of deposit (CD), participants can reserve a portion of their currency holdings, while earning an investment return in the form of new currency (issued as interest payments) and transaction fees.
*Peercoin* ===== Peercoin
((("Peercoin")))Peercoin was introduced in August of 2012 and is the first alt-coin to use a hybrid Proof-of-Work and Proof-Of-Stake algorithm for issuance of new currency. ((("Peercoin")))Peercoin was introduced in August 2012 and is the first alt coin to use a hybrid proof-of-work and proof-of-stake algorithm for issuance of new currency.
* Block generation: 10 minutes * Block generation: 10 minutes
* Total currency: No limit * Total currency: No limit
* Consensus algorithm: (Hybrid) Proof-Of-Stake with initial Proof-Of-Work * Consensus algorithm: (Hybrid) Proof-Of-Stake with initial Proof-Of-Work
* Market capitalization: $14 million USD in mid-2014 * Market capitalization: $14 million USD in mid-2014
*Myriad* ===== Myriad
((("Myriad")))Myriad was introduced in February 2014 and is notable because it uses five different Proof-Of-Work algorithms (SHA256d, Scrypt, Qubit, Skein, or Myriad-Groestl) simultaneously, with difficulty varying for each algorithm depending on miner participation. The intent is to make Myriad immune to ASIC specialization and centralization as well as much more resistant to consensus attacks, because multiple mining algorithms would have to be attacked simultaneously. ((("Myriad")))Myriad was introduced in February 2014 and is notable because it uses five different Proof-Of-Work algorithms (SHA256d, Scrypt, Qubit, Skein, or Myriad-Groestl) simultaneously, with difficulty varying for each algorithm depending on miner participation. The intent is to make Myriad immune to ASIC specialization and centralization as well as much more resistant to consensus attacks, because multiple mining algorithms would have to be attacked simultaneously.