Cryptocurrency: Deep dive into the speed and proof of consensus mechanisms
The world of cryptocurrencies has exploded in recent years and thousands of new tokens and projects have appeared in terms of increasing demand for secure, decentralized financial systems. The heart of this revolution is the consensus mechanism that determines the control of the transaction and the complement of the public book. Two major consensus mechanisms that paid considerable attention are Palik’s Proof (POS) and proof of work (JE). In this article, we are immersed in the basics of each mechanism, their advantages and disadvantages, and examine the consequences of accepting cryptocurrencies.
Stak (POS) Certificate
The proportion is evidence of the consensus algorithm developed by Gavin Wood in 2014. It is designed to provide and scalable energy, which offers an attractive opportunity for large -scale implementation, such as the Ethereum network.
How POS works:
- Valid
: The validation node checks transactions to the blockchain.
- Paliko Distribution : Walidacists have a certain amount of cryptocurrency (set) based on their participation in the validation process.
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- Verification : The selected validate justifies transactions and add them to the blockchain.
Benefits:
- Energy efficiency : POS requires less energy than POW, which is a more environmentally friendly opportunity for large -scale implementation.
- Scalling Claim : POS can handle higher transactions than POW due to reduced computing energy demand.
- Increased Safety : The random selection process makes the blockchain offensive manipulation more difficult.
Errors:
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- Slower Transaction Time : POS consensus mechanisms are generally slower than POW, as Walidates must wait for the coins controlled.
Certificate of work (POW)
Evidence of work is another dominant consensus algorithm developed by Nakamoto in 2008. It is widely used in bitcoin and other cryptocurrencies such as Ethereum.
How do these work:
- Mining : The enforcement node solves the complex mathematical puzzles that check transactions and create new blocks.
- Block Award : The winner of the puzzle involves a newly broken cryptocurrency (block fee) reward.
- Verification : Walidacze checks transactions and add to the blockchain.
Benefits:
- Energy efficiency : POW requires significant computational performance, which provides more energy than for large -scale implementation.
- Scalability : Due to faster blocks, you can support the amount of more transactions.
- Increased Safety : The random selection process makes the blockchain offensive manipulation more difficult.
Errors:
- High energy consumption : POW requires a significant amount of computing, which makes it a less environmentally friendly option.
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Comparison and consequences
In summary, both POS consensus mechanisms and POW have strengths and weaknesses. Although POS offers more energy -it can be deprived and scalable, it can centralize a small group of investors. On the other hand, POW requires significant computational energy, but it is faster and provides more energy.