Proof of Stake (PoS) voting is the activity of verifying blocks and voting on consensus rule changes. Stakeholders verify blocks by voting Yes or No. If there is a proposal to change the consensus rules, stakeholders can vote Yes, No or Abstain to implement the new code.
You can buy voting tickets to participate in the PoS process. The price of each ticket is locked in the network until the ticket is called to vote. When a block is created, 5 tickets are chosen at random from the ticket database to vote on the block.
> Get started with the PoS Guide for beginners
For a detailed explanation, check docs.decred.org/mining/proof-of-stake
Voting in a stakepool
We strongly recommend new users to vote in a pool. The process of buying tickets is much easier with stakepools.
Furthermore, if you are not wiling or able to keep your wallet online 24/7 it is wise to use a stakepool. Pools are designed to be highly available, which is why they hardly miss a voting opportunity.
Stakepools are only used to delegate voting power. A pool owner cannot steal your funds, the locked ticket price will remain safely in your wallet.
> Simply follow the PoS Guide for beginners
How to pick a stakepool?
Important factors to consider when picking your pool: security of the pool, support channels, proportion of the network, current fee. Recommended stakepools are listed on decred.org.
Security: which kind of measures do they take to prevent downtime? Is the stakepool software hosted on different providers and on different continents?
Support: how do they respond to issues? Do they have dedicated communication channels for troubleshooting?
Network proportion: it is important to keep the network decentralized. For this reason, pools that have less than 5% of network votes are the best choice.
Fee: pick a pool that charges reasonable fees. Pool operators made a significant investment to host the stakepool. Paying 3% of your reward to support the upkeep of the pool is totally reasonable.
> Ready? Read the PoS Guide for beginners