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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