Algorithm Combination of Proof-of-work and Proof-of-stake

Bitcoin is using Proof-of-work(PoW) system to create rewards for mining, but the system has its cons that it needs a serious amount of computing power and the required number is growing quickly.

Ethereum is planning to change the consensus mechanism of blockchain from PoW to PoS system, but some of the coins is trying to combine those two different systems, like Aerium, UltraCoin(UTC) and StrongHands(SHND).

Proof-of-work, a very first reward mechanism that used by Bitcoin. Bitcoin gathers miners to work out difficult math problems. Any of miners contribute their computing power to solve the problem. The problem is actually more like a guessing game, which is based on the hashing algorithm. What’s hashing u can refer to this. Once a miner or miners has completed the problem at this moment, a block will be created and miners who have involved in solving problem will be rewarded coins. How many numbers of coins you earn will be according to how much contribution the miner or miners have offered to compute process.

And now, blockchain has Proof-of-work Mining.

Proof-of-stake Mining: All you have to do to earn with this method is to hold coins in your wallet. Your earnings are based upon the number of coins or “stake” you hold. The cryptographic calculations in PoS are much simpler for computers to solve: you only need to prove you own a certain percentage of all coins available in a given currency. For example, if you somehow owned 2% of all Ripple(XRP), you’d be able to mine 2% of all transactions across Ripple.

To See more details about PoW and PoS: Proof-of-Work Vs. Proof-of-Stake Explained

1.Aerium

Aerium is a new cryptocurrency using a new Skunkhash algorithm Proof-of-work and Proof-of-Stake. After 315.000 Aerms were mined over 7 days, PoS will trigger in and staking rewards will be distributed among AERM holders, up to 12500% APR.

2.UltraCoin(UTC)

Ultracoin(UTC for short) is a hybrid proof-of-work/proof-of-stake coin whereby active nodes are involved in the mining of blocks if they maintain a UTC balance. Ultracoin uses the Scrypt-Chacha algorithm, which ensures it cannot be mined by ASICs like other cryptocurrencies. Transactions are lightning-fast at just 60 seconds confirmation time. More information about UTC can search ultra charts.

3.StrongHands(SHND)

The Stronghands Cryptocurrency sets to offer to bring together the proof-of-stake and proof-of-work innovations by offering 100% annual rewards to participants. The platform is said to have a 10 trillion worth of maximum strongcoin supply which is yet to be confirmed. With 2.5 minutes of transaction time between blocks, the platform cannot be said to be the fastest in the quickly growing cryptocurrency industry. But it seemed this coins will be influenced by hp market cap in terms of hp stock price history. If you know why, plz tell in the comment area below, thanks in advance.

We ain’t lack innovation, what we need is a stable and trustful system that can give us an affordable and easy-access platform to using cryptocurrency, which can create a more democratic and fair environment for trading.