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Proof of Stake is a consensus algorithm that is secure as long as now single entity ends up with 51% of the supply. As of 2017, PoS cryptocurrencies were not as widely used as proof-of-work cryptocurrencies. The first functioning implementation of a proof-of-stake cryptocurrency was Peercoin. Other cryptocurrencies, such as Blackcoin, Nxt, Cardano, and Algorand followed.Additionally, while currently based on proof of work, Ethereum is currently developing a PoS mechanism as of 2021.