POSTOKEN The first proof-of-stake in the ethereum network

https://postoken.org/

Introductions

Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. Unlike proof-of-work (PoW) based cryptocurrencies (such as bitcoin), where the algorithm rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining), in PoS-based cryptocurrencies the creator of the next block is chosen in a deterministic (pseudo-random) way, and the chance that an account is chosen depends on its wealth (i.e. the stake). In PoS cryptocurrencies the blocks are usually said to be forged (in the blacksmith sense of this word), or minted, rather than mined. Also, usually all the coins are created in the beginning and the total number of coins never changes afterwards (although there are some other versions of PoS where new coins can be created). Therefore, in the basic version of PoS there are no block rewards (e.g. as in bitcoin); so, the forgers take only the transaction fees

Proof-of-stake must have a way of defining the next valid block in any blockchain. Selection by account balance would result in (undesirable) centralization, as the single richest member would have a permanent advantage. Instead, several different methods of selection have been devised.

Coin age based selection

Peercoin's proof-of-stake system combines randomization with the concept of "coin age," a number derived from the product of the number of coins times the number of days the coins have been held. Coins that have been unspent for at least 30 days begin competing for the next block. Older and larger sets of coins have a greater probability of signing the next block. However, once a stake of coins has been used to sign a block, they must start over with zero "coin age" and thus wait at least 30 more days before signing another block. Also, the probability of finding the next block reaches a maximum after 90 days in order to prevent very old or very large collections of stakes from dominating the blockchain

Proof-of-stake based smart-contract

New ideas are present in the life of a token that stands on the Ethereum network, which uses real features of full proof-of-stake PoSToken is the world's first Proof-of-Stake smart contract token on Ethereum platform. It's based on the ERC20 Token Standard and implements all standard methods. As an Ethereum token, PoSToken first implements the Proof-of-Stake mechanism, meaning that holders of PoSToken can earn some extra tokens just by holding PosToken for a period of time, greater than or equal to The Minimum Coin Age.

this is easy for you because one of the advantages of Postoken is

• you do not need to install additional wallet to store token
  
• just by adding contract-address you can already run the full stakin function
• Holding some PoSToken for a period of at least 3 days, greater than or equal to the Min Coin Age.

PoSToken provides two methods to trigger PoS mining:

• Sending a transaction to your own address with any amount of POS.
• Using MyEtherWallet.com or Mist or any other software that can interact with contracts to execute mint()function.

More Details Read Whitepaper

Specifications

• Name: PoSToken
• Symbol: POS
• Contract: 0xee609fe292128cad03b786dbb9bc2634ccdbe7fc
• Decimals: 18
• Max Total Supply: 10M
• Initial Supply: 1M
• Min Coin Age: 3 Days
• Max Coin Age: 90 Days
• 1st Year Interest: 100%
• 2nd Year Interest: 50%
• 3rd - 15th Year Interest: 10%

Exchange

https://etherdelta.com/#POS-ETH

Social link

Bitcointalk	https://bitcointalk.org/index.php?topic=2110712.0
Twitter	https://twitter.com/PoSToken
Slack	https://postoken.slack.com/
Github	https://github.com/PoSToken/