Proof-of-Contribution (PoC) is a consensus mechanism used in some cryptocurrency networks to secure the network and validate transactions. It is a variation of Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus mechanisms. In a PoC system, network participants contribute their resources such as storage, computing power, and network bandwidth to the network in exchange for rewards. These contributions are then validated by other network participants, who ensure that the contributions are legitimate and meet the network’s requirements.
What are the primary node types that exist? Proof-of-Work and Proof-of-Stake are widely recognized consensus mechanisms, but newer methods are continuously emerging. PoW-based blockchains have dominated the cryptocurrency landscape for an extended period, with Bitcoin...
