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PROOF OF STAKE

Proof of stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e., the stake). At the core of the Proof of Stake algorithm is the storage of all the operations in the Goldy Coin wallet with the distributed database. The peer to peer network handles the synchronization of the wallet nodes running on Proof of Stake.

The Proof of Stake makes it possible to execute cryptocurrency transactions with high-security provisions to evade hacker attacks and fraudulent actions. The Proof of Stake is based on decentralization. In the absence of a single regulating authority, it does not allow a malicious entity to know the exact valid block. The more GOLDY Coins held in a wallet, the more credibility that wallet node will be granted on the network. Hence, the wallet will likely get a block reward because of the relative weight that wallet offers towards protecting the network. The coin age is also a factor. Proof of Stake is not only mining but also staking the GOLDY amount to ensure the validity of the transactions placed in blocks. By having a wallet with a substantial amount of GOLDY and staking that amount, it minimizes the likelihood that the owner of the wallet will behave maliciously to attack the network.

With proof-of-stake users earn rewards on the coins held in their wallet by following few simple steps:

1. Download the GOLDY Coin wallet from website
2. Purchase GOLDY Coin from an affiliate exchange
3. Place coins in digital wallet.
4. Coin earn rewards through being staked as collateral to verify transactions on the blockchain. 

MASTERNODES

Masternode is simply a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like you have Bitcoin full nodes and is always up & running. But masternodes are considerably different in their functionality than normal nodes. They are different because they perform several other functions apart from just keeping the full blockchain and relaying blocks/transactions as a full node does in Bitcoin/Litecoin. A Masternode later gets a reward per block every 180 seconds for the task performed on the network. These rewards are immediately paid to the GOLDY Coin wallet address that is linked to this Masternode.

Using Masternodes further guarantees the stability and protection of the whole network. Furthermore, these nodes perform another important role within the network to mix numerous transaction amounts to increase fungibility and anonymity of transactions. Masternodes are in fact the computors and servers that are connected to the blockchain at all time. This can be your own computer or a VPS (Virtual Private Server) at a provider's data center. All masternodes operate together to keep the blockchain running, to process its data and to keep it safe. For participating in the performance of these tasks, your masternode receives its rewards from the blockchain, being a predetermined amount of GOLDY Coins. Since the blockchain has to be updated and verified continuously, this requires very frequent blocks of data, that must be approved by all masternodes.
These frequent blocks (which frequency is also predetermined by the system itself) and the associated rewards create a guaranteed constant flow of coins to your wallet. This is what generates your passive income.