Proof-of-Stake Cryptocurrencies Have $4 Billion in Staked Funds: Diar
New research from Diar notes Eos makes up almost half of PoS staked funds’ total market value, followed by Dash and Cosmos.
Many coins only employ PoS to some extent, with the proportion of total supply “staked” by network participants changing. Staking refers to a participant proving they own a certain number of coins as part of the network’s consensus mechanism.
With Eos, the staked total has reached 47 percent of overall supply, making it the most staked coin in dollar terms, according to Diar’s calculations, at $1.8 billion.
Second is Dash, with $431 million staked, followed by newly-launched Cosmos with $309 million. In total, staked funds are worth around $4 billion.
“EOS, whose mainnet launch was met with hiccups due to low staking participation, now represents nearly half of the staked value on PoS blockchain networks alone,” the publication added.
As Cointelegraph reported last month, MIT is currently working on a new format of cryptocurrency based on PoS, while the largest altcoin by market cap, Ethereum (ETH), is set to transfer to the protocol by 2021.