I discovered this term, delegated-proof-of-stake in January and knew that I had known nothing all my life. You see when I 1st got into learning of crypto I typical apprached Bitcoin and learnt about the proof-of-work algorithm for mining. I was obsessed with the idea that my computer could perform a task that would generate income for me. I felt like a slave owner at one point, although my slaves were not living and breathing beings. I didn't make much as I was conducting CPU mining. Unfortunately the CPU or a computer does not transmit a high level of computational power for solving blocks. It is wiser to use a GPU or better known as a graphic's card as it distributes a higher level of commputational power for solving blocks. So while i was mining I pondered whether or not the form of income that I was generating was passive or active. If it was passive this meant that I was on the path to financial freedom, and if it was active it would mean that I was not advancing into the land flowing with milk and honey. I concluded that mining Bitcoin and other cryptocurrencies required my efforts although it did not require much of my intelligence. The nail in the coffin was that mining cryptos required my time. The rich leverage other people's time and other people's money. I was leveraging my own time. This is why I believe that proof-of-work may seem like it producers passive income, but it is actually a result of active income, also known as earned income.
When I investigated the term delegated-proof-of-stake I was totally lost. I was still trying to figure out proof-of-stake (POS). I remember watching tutorials that explained proof-of-stake to be an evolved alternative to proof-of-work. Coin such as BitConnect had a staking platform that meant that you could put your cyrptos in the BitConnect wallet nad generate interest based on the time duration your coins would stake for. I wasn't attractive to this activity as you would need to leave the BitConnect wallet open to proceed in the staking process. This was however cheaper and less harmful to one's computer than mining. I saw that proof-of-stake delivered the opportunity of passive income, but I didn't like the activity.
This was until I found coins that produce passive income through block process called delegated-proof-of-stake. I liked it the 1st time I heard it. It is a superior and an evolved form of POS. Ever since I've been engaged in this process I've never looked back. It is such a fruitful procession. I don't even mine at all anymore. Here is a list of coins I'm investin in that utilize DPOS:
People who hold 1000 or more SMART in the rewards wallet qualify for a monthly snapshot that takes place o the 25th. This comes from the monthly block rewards from pool that is distributed to SMART rewards holder. Once the investor has generated 10 000 or more SMART he/she may operate a masternode and generate an extra 10% on each block reward for the month.
The minnowbooster andother bots have become my friends as I receive daily payouts on the SP I am delegating. Sometimes I have to remind myself of how this all works, but the idea here is that you are renting out your Steem Power and getting a daily payout on your invest. I think I like this one most as it allows you to reivest fast and aim for compound interest.
When you vote for worker and witnesses on the Bitshares network begin delegating Bitshares. I'm not too clear on how this works, but I did receive small payments that were a resulty of passive income.
And finally BridgeCoin i one I'm also leveraging. Like SmartCash it is listed on the CryptoBridge exchange. What i like about the DPOS style of BridgeCoin is that you are given options to how you want to invest. You may delegate your BrigdeCoin for 1 month, 2 months, 3, 6 and 12 months. Your coins are locked up while you receive dividend payouts in BTC, LTC, BCO biweekly until the end of the staking peroid. The only catch is that you have to pay to start with the DPOS process and also pay to claim your BridgeCoins after the staking period is complete.