August 2018
Beginner to intermediate
94 pages
2h 37m
English
Content preview from Learn Bitcoin and Blockchain
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Proof of Stake
PoS is the most common alternative to PoW for verifying and validating the transactions on the block. In this type of consensus algorithm, instead of investing in expensive computer equipment in a race to mine blocks, a validator invests in the coins in the system.
Note the term validator, because no coin creation or mining takes place in PoS. Instead, all the coins exist from day one and validators, also called stakeholders, are paired strictly in transaction fees only.
In PoS, the selection of individuals for the approval of new messages to confirm the validity of new information submitted to the database is done in a more deterministic way. This selection is done by the network on the proportional stake of each individual ...
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