What is PoS?
Proof of Stake (PoS) is a consensus mechanism designed to address some of the shortcomings of Proof of Work (PoW). In a PoS system, instead of miners competing to solve a complex math problem to verify transactions and add new blocks to the blockchain, validators are chosen based on the amount of cryptocurrency they "stake" inthe network. Validators are rewarded for creating new blocks and validating transactions based on the size of their stake. PoS is one of the most popular consensus algorithms on blockchain networks.
FAQ menu
Why do you need a crypto wallet?How does a crypto wallet work?What is the best crypto wallet for beginners?Custodial vs Non-Custodial Wallets: Which is Better?What is NOW Wallet?What's the difference between ChangeNOW and NOW Wallet?Hot or Cold Wallets? What's the Difference?Is there a desktop version of NOW Wallet?How many wallets can I have?
How to receive / send crypto?Which cryptocurrencies does NOW Wallet support?Can I exchange crypto in NOW Wallet?Why should I exchange crypto right in the crypto wallet?What should I do, if my token is not listed?What are wrapped tokens?What are network fees? What is an ETH gas fee?Can I use a hardware wallet with NOW Wallet?
Questions not answered?
If you haven't found the answers you're looking for on our site, then please don't hesitate to contact us. We’ll help you as soon as possible.
Contact us