One of the newest Peer-to-Peer Electronic Cash System, BitcoinPoS, is already challenging the cryptocurrency industry by launching an outstanding feature that can improve the security of your income and minimize risk – Cold Staking.
We couldn’t expect less from a company strong-willed to improve the initial Proof of Work system by establishing a Bitcoin Proof of Stake consensus.
What is Cold Staking about?
Cold Staking is a new feature that offers you the possibility to stack their coins in an offline wallet, also known as a cold wallet, making your account almost difficult to hack. This kind of feature can be developed using hardware or air-gapped technology and so far it was very well received by the cryptocurrency community.
The potential of BitcoinPoS
Even if it’s new on the market, Bitcoin Proof of Stake –BitcoinPoS - BPS already conquered a lot of cryptocurrency enthusiasts by making a big entrance at the beginning of May. That’s because the team chose to focus on the Proof of Stake system, alongside Bitcoin Core. That way, the company sustained a more decentralized network, simple and stable, with instant digital currency payments and lack of congestion.
Its passionate team is up to date with the actual needs of people, and it doesn’t miss the chance to reflect them in the company products. The team members realized how important safety is for the crypto community, and they worked on new ways to minimize the risk cryptocurrencies come with.
The BitcoinPos version of Cold Staking feature comes with two wallets:
- The funds will be staked in a cold wallet and will receive rewards of participating in the Staking Pool that doesn’t need to be online all day long, using less energy.
- A second wallet which will be the hot-node and needs to be online 24/7.
Those two implicate a hard fork of the blockchain, which will be an essential update for all cryptocurrency users. This feature will transform hot wallets into a tool that just performs the staking operation, no longer requiring to stake the coins, thus improving the safety of your income.
Are there any advantages?
Of course! A lot of cryptocurrency community members are already hyped by the idea of staking in general.
Think about how much easier it is now to navigate in this world, without depending on strong technical knowledge or computational power.
It’s a great way of earning passive income, and with this new feature it became a lot safer to invest in cryptocurrencies. No more hacking attacks, less electricity consumption - this is the technology of the future!
In conclusion…
Entering in the cryptocurrency world is not an easy decision, being a pretty new concept.
But what was seen at the beginning as a fantasy is now demonstrating how much potential those coins have. People have asked for financial independence for years, and it’s gratifying to see how they take a stand.
Little by little, we will not depend on the government anymore, administering our income ourselves. Companies like BitcoinPoS work continuously for the best version of cryptocurrencies, and we encourage you to be part of the feature.
Check out their social media platforms if you want to keep up with their updates: