Saturday, June 25, 2022
HomeBitcoinProof-Of-Work Is Goal, Proof-Of-Stake Is Not

Proof-Of-Work Is Goal, Proof-Of-Stake Is Not

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Alan Szepieniec holds a PhD in post-quantum cryptography from KU Leuven. His analysis focuses on cryptography, particularly the type of cryptography that’s helpful for Bitcoin.

Proof-of-stake is a proposed different consensus mechanism to the proof-of-work that Bitcoin’s consensus mechanism makes use of. As an alternative of requiring the consumption of vitality, proof-of-stake requires miners (normally known as validators) to place digital belongings at stake with a view to contribute to the block manufacturing course of. Staking incentivizes them to behave truthfully, in order to keep away from shedding their stake. In principle, with solely sincere validators, the community will rapidly come to consensus in regards to the order of transactions and, due to this fact, about which transactions are invalid double-spends.

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