Proof of Stake is a Breath of Fresh Air
The past few years that cryptocurrency endured and weathered banked in huge amounts of profits for its enthusiasts and investors alike, but progress and improvement at the same time meant bigger and harder detriments and issues that we would have to face in the future.
One notable issue that everyone in the cryptocurrency industry from the biggest bag holding whales to the common investor complains about is the transaction process of the biggest cryptocurrencies in the market.
Currently, the huge volume of the inward and outward transactions causes the system allocation to bottleneck, and to make up for it, the system will charge more and may sometimes even delay the transaction approval to make up for the large queue times and the processes that come with it.
This is because most cryptocurrencies run on a proof-of-work feature where 100% of the processes are handled by the system and the network itself, and since there is only so much allocated space for such transactions, bottlenecking occurs.
A solution that a few revolutionary projects like CUDOS implemented is the complete acceptance of Proof-of-Stake over Proof-of-Work. Inarguably better than the latter, it has been making grounds over the industry and is seen as the next stage towards a better future for the cryptocurrency world.
Why is this so?
By pooling the task and computation amongst verified validators instead of allocating chunks for the transaction, there’s a guarantee that bottlenecks can be avoided and without bottlenecking, faster and cheaper transactions are made possible even in times of huge transaction volume.
With this in mind, the seeming monotony of the cryptocurrency community is at the very least alleviated, with novel projects and ideas like the implementation of PoS that have not been seen before, one can guarantee themselves that a bright and diverse future is ahead for us supporters.
