Another method is called the proof-of-stake scheme. Proof-of-stake is a method of securing a cryptocurrency network and achieving distributed consensus through requesting users to show ownership of a certain amount of currency. It is different from proof-of-work systems that run difficult hashing algorithms to validate electronic transactions. The scheme is largely dependent on the coin, and there is currently no standard form of it. Some cryptocurrencies use a combined proof-of-work and proof-of-stake scheme. ₹150/month Chainalysis noted that India currently taxes crypto at higher rates than most countries, with a 30% cut taken on gains and a 1% tax on all transactions. It said that uneven application of the transaction tax may be making it harder for homegrown exchanges to compete.
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