🔁Pools

Proof of Stake (PoS) protocol is a consensus mechanism for blockchain that emerged as an alternative to Proof of Work (PoW) protocol. In PoS protocol, instead of mining power, token holders in the blockchain lock their tokens and use them as collateral for verifying blocks and creating new blocks. This is called Proof of Stake.

Proof of Stake pools are formed by a group of token holders who serve the same purpose. These token holders lock their tokens into the pool for the verification of blocks and creation of new blocks. Joining the pool enables them to earn rewards similar to mining.

In PoS pools, the tokens in the blockchain are distributed among the members of the pool at a predetermined rate. The reward is determined by the number of tokens in the blockchain and the number of tokens in the pool. Pool members receive rewards based on their participation time, the number of tokens they hold, and other factors.

In summary, PoS pools are formed by a group of token holders who use locked tokens for verifying blocks and creating new blocks in the blockchain. Pool members earn rewards at a predetermined rate and help verify transactions in the blockchain.