Tag: Proof of Stake

Consensus

Consensus mechanisms (also known as consensus protocols) allow distributed systems (networks of computers) to work together and stay secure. In regards to blockchain, the process is formalized, and reaching consensus means that at least 51% of the nodes on the network agree on the next global state of the network. Dominant consensus mechanisms are Proof …

Consensus Read More »

Proof of Stake

The Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins they hold. This means that the more coins owned by a miner, the more mining power they have. The Proof of Stake was created as an alternative to the Proof of Work (PoW) concept, …

Proof of Stake Read More »