Why EDC Blockchain’s LPoS Mining Is Better Than Classic Mining? And Leasing Process On EDC Blockchain.
From the beginning when you get connected with crypto you must be acquainted with word like PoW(Proof of Work ), PoS(Proof of Stack), and (PoSe) Proof of Service i.e Masternodes. Proof of Stake mining is the process using by oldest coins like Bitcoin, Ethereum, Litecoin, etc. But PoW(Proof of Stake mining) is required high computing power and transaction can take 10 min-6 hr. Since the power requirement by PoW increasing day by day so it can create difficulties for miners in the future, for instance, home mining of bitcoin is no more profitable.
After facing such difficulty in PoW mining PoS mining introduced where less computing power, more cost-effective than PoW mining and can execute faster transactions than PoW mining. But do you know what is the problems of PoS mining? during PoS mining you need more coins to hold no fixed coin has been decided for staking so to be part of the network you need more coins and it is not fair with every coin holder because a wheal can dominate the full network. So the (PoSe) Proof of Service i.e Masternode introduced.
Masternode is nothing but the fair decision by the network where everyone can take part in the mining but you have to hold a certain amount of coins which is fixed by the network. Masternode can execute transactions within a fraction of second but the problem arises when Masternode coin’s price increased hence it can cost you very much to be a Masternode.
Anyway, in this article, I am going to introduce you Leased Proof-of-Stake (LPoS) algorithm, Why EDC Blockchain uses Leased Proof-of-Stake (LPoS) algorithm and How Leased Proof-of-Stake (LPoS) is better than PoW, PoS, and PoSe?
What is Leased Proof-of-Stake (LPoS) algorithm?
Okay, let’s discuss in details about (LPoS) Leased Proof-of-Stake. This is the latest method of crypto mining which is a combination of (PoS)Proof-of-Stake and (PoSe)Proof of Service in short, (PoS)Proof-of-Stake + (PoSe) Proof of Service = (LPoS) Leased Proof-of-Stake. In this process, anyone can earn EDC coin by leasing their coin to a supernode no need to worry about your coin holding and no need to buy expensive Masternode. After you lease your coins they will not go anywhere it will get frozen for the period you decided to lease.
After leasing, you can get your reward from 8% to 12% according to your leasing period so in this process, during the bearish market, your coin’s price may or may not grow but the number of coins must grow.
You can stop leasing at any moment you want the only thing you need to consider when leasing is choosing the right node operator, as the operator’s node may work with different efficiency and send back a different percentage of the reward. So please comment EDC Blockchain’s LPoS Mining Is Better Than Classic Mining or not?
Leasing Process On EDC Blockchain.
All the feature on EDC Blockchain is so simple to use and leasing your coins can be done within a minute all you need to hold minimum 1000 EDC coins to be eligible for leasing which is very cheap and you have to follow below steps to lease your coins.
Step 1:
First of all, you need to create an EDC Blockchain web wallet and must note your brainkey to restore your wallet in the future if needed.
After you click on EDC Blockchain wallet link you will be redirected to registration page above is the screenshot of registration page. After you click on EDC Blockchain wallet link you will be redirected to registration page above is the screenshot of the registration page. Now put your name, password, make agree to terms and conditions by a tick mark on the box and hit the “create account” button.
Step 2:
Now log in to your wallet and open your dashboard and click on the leasing option and keep in mind that minimum 1000 EDC coins need to be held.
Step 3:
After you click on leasing option you will be redirected to leasing dashboard now you decide how much coins you want to lease and then hit the “Lease” button, Okay, now you are done.
Conclusion:
As you know all the feature of EDC Blockchain are oriented to help the community and people so during research about the EDC Blockchain I really appreciate this project and I must be suggesting you use the feature of leasing.
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Risk Warning!
All the article is my own opinion and research. since all kind of investment is subject to market risk so before investment do your own research. No one will responsible for your profit or loss.