Let’s discuss proof-of-stake (POS) cryptocurrencies, Cardano (ADA), Polygon (MATIC), and Fortrex: Colors Duel (MAGG).
You might be wondering: Why proof-of-stake cryptocurrencies? Why should you be interested? What’s so special about them? Let’s relax your curiosity.
Proof-of-stake (POS) cryptocurrencies possess several technical benefits. But asides from that, some POS cryptos also provide various economic benefits/dividends to their HODLers by offering them opportunities to run master nodes or stake their assets in a stake-able wallet.
Putting it into a simpler perspective, you can earn by owning many POS cryptocurrencies. This provides dual advantages of securing the blockchain network and giving users the opportunity to get bonuses or dividends on their holdings.
So, if you don’t currently have any POS currencies, you should start exploring our list below since they can be a great source of smart passive income.
Cardano (ADA) is a powerful PoS network. It aims to improve Ethereum’s architecture, focusing on flexibility, sustainability, and scalability. Cardano’s major advantage is the ability to process several transactions per second.
Furthermore, Cardano’s (ADA) Ouroboros proof-of-stake system attempts to address the challenges with energy inefficiency associated with Bitcoin mining.
Cardano (ADA) is great as it allows holders to withdraw their staked assets at their preference. This is a very user-friendly platform if you’re new to the POS space.
However, the network has other use cases. The Cardano (ADA) ecosystem can be leveraged to create smart contracts, build and launch DeFis and DApps, and mint new crypto tokens. The average annual yield return for ADA is 5–9%.
Polygon (MATIC) is a unique POS coin that was developed in an attempt to scale Ethereum (ETH). Polygon’s purpose is to ensure compatibility and interoperability by connecting every Ethereum-based DApp.
Polygon (MATIC) transactions are completely secured by network validators. Furthermore, the network has the ability to validate up to 65,000 transactions per second, allowing Ethereum (ETH) networks to execute transactions efficiently.
This throughput has become a significant contributor to the network’s profitability. Polygon’s native token, MATIC, was among the 2021 cryptocurrency market’s top-performing digital assets in terms of the trading volume.
At the time of writing, it is ranked the 15th largest cryptocurrency by market capitalization according to Coinmarketcap. The expected annual staking return for Polygon (MATIC) depends on the number of assets you stake. However, the maximum APY for this cryptocurrency is over 14%.
Fortrex: Colors Duel (MAGG)
Fortrex: Colors Duel (MAGG) is a new DAO-controlled play-to-earn blockchain project in the cryptocurrency market.
Fortrex: Colors Duel’s MAGG token is an ERC-20 POS token. It grants holders voting power in the DAO necessary to participate in the DAO’s revenue-sharing program.
This ERC20 token is intended for investors. It is used as voting power in the DAO and is required to benefit from the DAO revenues. It is meant to serve as a standard unit of exchange for the Fortrex: Colors Duel Ecosystem.
The MAGG will represent the interest of holders, and a portion of game revenues will be transferred to the DAO. MAGG holders will be entitled to claim DAO revenues proportionally to the share of their MAGG holdings.
The project will be going into presale soon and will reward users with 50%-120% between their second and fifth purchases.
Proof-of-Stake (PoS) consensus mechanism is used to validate cryptocurrency transactions and is meant to address the perceived flaws of BTC’s Proof-of-Work (PoW) consensus mechanism. Some of the largest and fastest-growing cryptocurrency projects have adopted this protocol.
Staking POS currencies is among the smartest approaches to earning passive income. PoS token holders can earn “crypto dividends” on their holdings by staking their digital assets or becoming network validators.
However, this sometimes requires substantial investments, yet in many cryptocurrencies such as Fortrex: Colors Duel (MAGG), the entry barrier is lowered significantly to get you started, making the process simpler for the average user.
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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