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Delegated Byzantine Fault Tolerance

Delegated Byzantine Fault Tolerance alternative or dBFT as it often referrer to is a derivative of Delegated Proof of Stake. dBFT was created by Erik Zhang (Co-founder and CTO Neo), NEO formerly Antshares. A good overview for NEO is as follows: Delegated Byzantine Fault Tolerance is a fancy and cool name for a solution to… Read More »

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Delegated Proof of Stake

A good technical overview: Delegated Proof of Stake uses a reputation system and real-time voting to achieve consensus. To be more specific, a panel of trusted parties has to be established, with all of its members eligible to create blocks and prevent non-trusted parties from participating. Delegates, the parties responsible for creating blocks, are unable… Read More »

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Directed Acyclic Graph

The using Directed Acyclic Graph to store ledger information for a cryptocurrency was first proposed by Sergio Demian Lerner in 2012 and formalised by him in 2015. https://bitslog.wordpress.com/2015/09/11/dagcoin/ A working implementation was first release by Anton Churyumov was in 2016 – Byteball. IOTA does use the Directed Acyclic Graph but there are several people in the… Read More »

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Masternodes

Are used in a variety of ways to provide ingenious functionality to a blockchain such as: Instant confirmation Enable a voting consensus to allow new features onto a blockchain which is voted by people who run the masternodes Masternode as a concept is normally associated with Proof of Stake & Delegated Proof of Stake blockchains

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Proof of Stake

Proof of Stake is technique of securing a blockchain based on the consensus of the owners of the cryptocurrency. Simplifying it somewhat, if say 51% of the people who own the cryptocurrency believe that the blockchain has not been tampered with, then that is the blockchain that the majority agree is the correct one.

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Proof of Work

The Bitcoin blockchain requires a “proof of work” to codify all the transactions that have been sent to the network every 10 minutes. Many blockchains use a proof of work to do this and it is usually performed by a computer or circuit which applies a mathematical formula to obtain a result. In simple laymans… Read More »

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