Indeed . . STEEM is a form of proof of stake. A great system, really. That's why we are all still here!

As far as POSW, from what I understand, the issues with security have all been resolved and registration will reopen on the 1st of October. The team worked quite hard to make sure that coins were returned to their owners.

Any funds that were transferred out were replaced by the PoSW team. We must always be diligent about security! I am glad that you did not lose any coins.

POS coins are wildly popular right now. This will allow a user to have one area to stake them all, rather than keeping track of a bunch of wallets on their home pc.