The concept of Proof of Stake (PoS) was created as an alternative to the work test (PoW), to address the problems inherent in the latter. When a transaction is initiated, the transaction data is set to a block with a maximum capacity of 1 megabyte, and then duplicated on multiple computers or nodes in the network. The nodes are the administrative body of blockchain and verify the legitimacy of the transactions in each block.
Basically Proof of Stake (PoS) would be a way to encourage the owners of different altcoins that help blockchain network of that cryptocurrency. This means that more coins you have on your wallet of an altcoin that uses Proof of Stake (PoS), more help to the network and more reward you will have.
SpectreCoin (XSPEC) is built by an energy and power efficient proof-of-stake algorithm that provides rapid transaction confirmations, ring signatures that favor privacy and anonymity model of transactions and a fully integrated Tor+OBFS4 layer for IP obfuscation within the wallet. Spectrecoin is developed with an ambitious roadmap that prioritises privacy, security, and decentralisation.
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