Bitcoin News
By Maheen Hernandez
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Proof of Stakes based projects has been a major trend in the cryptocurrency space. Well known cryptocurrencies like EOS, DASH, and TRON make use of POS.
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The year 2019 is expected to be the major timeline for several other POS projects, which are all set to be launched this year.
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As a part of the consensus mechanism of the network, the participants have to prove that they own a certain number of coins.
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The overall supply for the staked coins has already reached 47% with EOS. Per calculations from Diar, EOS is the most staked coin in terms of dollars with $1.8 billion in USD.
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The open source digital currency DASH run by master nodes is worker friendly as they provide for rewards and recognition for the miners.
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The mainnet launch of EOS met with hiccups due to low staking issues, and now they represent half the staked value in the POS blockchain.
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The EOS has an overhead resistance at $3.8723, and its failure to break out of the resistance level is not an excellent sign.
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MIT is currently working on a cryptocurrency type that is based on PoS. ETH the largest of the Altcoins in terms of market cap will be transferring to the protocol by 2021.
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Technically, ETH is all set to continue with the upside risk in a familiar range. It recovered from the $132 support level and traded above #$134 versus the dollar.
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Currently, the price is at the $137 resistance level. Selling might pick up at $137 and $138 levels. The next significant resistance is expected to be at $140.
The Currency Analytics
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