StakePool is a project started by the US Company that is based in Ontario known as the POS Mining Co. the StakePool is a green facility includes solar power. The POS coin from the POS mining represents a percentage of profits and tokens. The StakePool founders have been POS miners for more than 2 years now. The clients of POs include Blockchain, Diamond, and Reddcoin, later the POS is planning to mine for OkCoin, Stratis and Decred and other coins. Unlike POW mining, the POS mining is an investment solely for the coins.
What is POS mining?
The POS mining used by the StakePool is a process StakePool uses to keep the altcoins out of cold storage on the network using the on in an open wallet. The wallets are a P2P network of wallets. The mining allows for transactions to be confirmed and verified and a reward is given. The rewards are what POS token holder gets paid each month.
According to Vitalik Buterin, POS is a mining alternative that essentially does away with the computational waste of POW. He went on to add that rather than requiring the proverb to perform, computational work, a POS system requires the power to show ownership of just an amount of money.
StakePool has features that make the platform one of the best in the crypto world.
The most outstanding of the platform is secure. Unlike POW mining, POS mining has security challenges, but unlike POW, with POS mining, all coins being staked remain in unlocked wallets. StakePool utilizes various security measures, both online security measure and physical in a bid to prevent both site and cyber location intrusion.
StakePool uses Masternodes in their platform. The Masternodes are decentralized and trustless similar to the way Bitcoin nodes operates. Every Masternodes on the platform provides an anonymization service to ensure there is not even one centralized party to take down or attack. The Masternodes also ensure the transactions with the platform are validated in near real-time, which makes them quite efficient.
The StakePool coin will be released for early funders and adopters as a pre-ICO. The funds will be launched and fund coins for both the POS coins and Masternodes. Funds raised will be used for staking coins. The official crowdsale will start after the first payment to pre-ICO is made to token holders in October. The second phase of the pre-ICO will be announced at a later date.
Project is no longer live