December 2018
Intermediate to advanced
222 pages
6h 6m
English
Content preview from Blockchain Quick Start Guide
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Proof-of-Stake (PoS)
The PoS consensus algorithm is based on the principle that when a miner owns more coins, the miner has more power to mine or validate transactions, a higher chance of building new blocks, and therefore a higher chance of receiving more reward coins. PoS is energy-efficient and can reach a consensus much faster.
Several randomization methods are available for selecting a miner to build the next block, not just based on Ether balances of externally owned accounts, in order to avoid a scenario where the richest miner is always selected:
- Randomized block selection: Uses a formula to look for the lowest hash value in combination with the size of the stake for selecting a miner.
- Coin age-based selection: Coins owned for long ...
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