The Evolution of Proof of Stake – From Peercoin and Nxt to Algorand

Developed by software company Jelurida, Nxt was the first pure Proof of Stake blockchain, and the template for subsequent PoS networks to copy. Proof of Stake may be open to any blockchain to use, but credit for its formation remains a source of pride among those who toiled over the consensus algorithm before it was cool.

While Proof of Work will remain the favored consensus algorithm of Bitcoin and its ilk, every major new blockchain today is PoS. Thanks to the efforts of Peercoin, Nxt, and other early developers, Proof of Stake has quietly taken over the blockchain industry.

Timeline of Bitcoin, Nxt, Peercoin