Investors of electronic money will probably come across concepts such as lending, trading, mining, or STAKING. So what is Staking Coin? PoS (Proof of Stake) is what? We will learn more through the article below

I. Definition of Proof of Stakes (PoS) and Staking

1. What is the Proof of Stake (PoS)?
   Proof of Stake (PoS) refers to a person who can exploit or validate block transactions based on the amount of coin he or she is holding. This means that the more miner (bitcoin) or altcoin the miner (s), the greater their exploitation power from PoS.

The first electronic money to use the PoS algorithm was Peercoin, then NXT, Blackcoin, and ShadowCoin.

• For Wikipedia, the concept is a bit deeper:
  Proof-of-stake (PoS) is an algorithm in which the blockchain network of an electronic currency targets a distributed consensus.

In the PoS platform, the next block creator is chosen through a variety of combinations based on random selection and the age of the stake - stage age.

In contrast to the Proof of Work, Proof of Work (PoW) solves puzzles in computation to validate transactions and create new blocks through which the miner receives a coin reward when " get a quiz "(mining).

=> By the way, PoS seems to be simpler than PoW, but let's go on to the next section.

1. What is Staking Coin?
   Staking is a concept whereby investors are referring to hold coins using the PoS algorithm in the desktop wallet to get more coin over time; is a form of electronic money investment that exists alongside other forms of investment such as mining, trading, lending, and so on.

To make it easier for you to understand Wikipedia or Investopedia, it's easy to see that some of the specs that use the PoS (Proof of Stake) algorithm can be staked. Staking is where you store that coin in your desktop wallet and the amount of coin it will increase by the time you store it, the more coin you store, the longer you get the more coins you get from staking.

Staking yourself for the simple example is that you are storing an altcoin in your desktop wallet, which can be staking, the only thing you need to do is just send the coin from the hot wallet / wallet online to that desktop wallet. The next step is to unlock your wallet and online continuously. Over a period of time (staking age), you get some new coin.

For example, x coin supports staking 22% per year, you have 10,000 coins and storing in a desktop wallet for staking continuously for a year will be added 2200 coins. Just like you deposited that money and they paid you 22% / year, x% a month, y% 1 day so (relative accuracy) ...

Staking is a form of investment that encourages investors to keep their coin rather than sell it, which can create scarcity and increase coin prices.

II. Step Instructions Staking (Stake Coin)
Step 1: Own coin using Pos algorithm

For staking, of course, you need to have coin to staking it, which must be done using the PoS algorithm. This is reflected in the technical specifications of the coin on the Whitepaper. You can own by buying from the ICO, buying at the exchange, collecting from the black market, or going ... please.

Step 2: Download your desktop desktop and sync

Once you have a certain amount of coin then you need to download the desktop and go online to sync (sync for network). This is automatic, just go online and throw it away.

Step 3: Encrypt wallet to lock wallet

The Encrypt (encrypted) is a type of wallet, you have to poke yourself, usually in the settings. If you download without encryption, then no matter what you are a hot girl, you take off all the clothes run into a crime full crime and say "Here! I invite you to eat !!! "

Just kidding, it's best to code for safety.
You remember to remember this password, lost is considered to lose coin always, not send out, take that look!

Once encrypted, your wallet will automatically quit or you can manually exit and re-enter, and go to Lock-unlock wallet.

If it is showing "Unlock wallet" - it means that you are currently in unlock status. To unlock, then click "Unlock wallet" to open by entering the password you entered in the "Encrypt" section.

Enter password, it will usually check box "Only for staking" (just open wallet to staking), you ok and "Unlock wallet" will change to "Lock Wallet".
The status of "Lock wallet" means that the wallet you are opening, want to lock then click on it.
Step 5: Send coin from other place on desktop wallet to stake

Of course, if you want to stake, you have to coin, then you will receive the address coin will display the address, you just copy the address that is the paste on the withdrawal coin where you want to withdraw.

Step 6: Online to coin (Mature coin)

After you have unlocked and you have withdrawn from another place on the successful desktop, then you need to do it online to a certain time to have Mature coin (or joke wait until "child" was big, enough old "watch" mature movie =))))

The time to coin mature is dependent on the coin type.

Check time mature coins, time staking often expressed in the tiny characters in the last right corner, also depending on the type of wallet.

Step 7: Online continually to get stake coin

The more you pay attention online, the more and more, the longer you get more staking coins, not online means that you can not staking.

You try online 24/24, not convenient to use VPS.

Step 8: Backup and restore (backup and restore)

For backup and restore, it is up to each type of wallet, so the wallet will ask you to create a private key at installation time for backup.

In this section, I will guide you how to backup and restore with the wallet backup item with the file "wallet.dat".

For example backup and restore with MAGE coin purse:

#Backup

Step 1: Go to File - select Backup wallet

Step 2: Save the backup, you can save this backup usb or icloud or something you think is safe, named Wallet (to restore the old copy of the "Wallet").

#Restore

If for some reason your wallet is faulty or you want to install it on another computer, then you restore the data by two steps:

Step 1: Access the path containing the Wallet.dat file

? system / Users / Administrator / AppData / Roaming / magiccoin (in other case replace magiccoin with that coin name)

Or press the key combination Windows + R - enter "% AppData%" - No quotes

Step 2: Copy the wallet.dat file

Copy the file Wallet.dat that you backed up from before and somewhere and then paste over this file wallet.dat.

Attention is required to join the staking soon. As soon as the new project releases the wallet. As for example with MAGE:

From Block 1 - 2,102,400: 2.5 coin

2102401 - 4204800: 1.25 coin

4204800 - blockchain last block: only 0.5 coin

III. Advantages and disadvantages of PoS - Staking

1. Advantages

Cost savings compared to PoW

Someone who is a miners (mining - PoW) also knows this, there are people who have to spend hundreds of millions to buy the whole "buffalo" configuration extremely terrible plough - digging, consuming more mountains of electricity monthly.

While with Staking, you only need a computer 24/24 online enough, assuming that using a high-powered U chip is not that efficient.

Interest stable, gold mine for the Holders

With coin holders, do not like trade coin like you, Staking is something that is NOT BETTER. Instead of the same amount of money thrown on the web throughout the year, after a year back to stay the same; If staking, after one year the amount of coin that can be increased up to half, even more depending on the type of coin.

And of course the traders do not like this ????

These are the two most obvious advantages, but the other advantages you may encounter with different types of coin and wallet types.

1. Disadvantages
   #Inconvenience

In the process of staking since you have mature coins, if you act on coin staking with actions such as withdrawing, sending coins, or withdrawing coins from your desktop, your weight will be reset and treated as everything. return to the old pig trough.

I tried with a coin purse and after withdrawing a certain amount of coin, have to wait long neck but still not see the stake at all. For those who have too little cash and low stake, it is best to keep on the web.

#Unfair

The more coin the more easy to stake and the more stake, the sooner the stake gains. But in truth, there are no "fair" words in the investment.

#Random

As I mentioned above, according to the concept of PoS, "In the PoS platform, the next block creator is chosen through a variety of combinations based on the selected POI and the magnitude of the stake age. - stage age "- PoS will depend on both" luck ".

These are the three most obvious disadvantages, but the other disadvantages you may encounter with different types of coin and wallet types.

Best regards,