Proof-of-Stake (PoS) is a consensus mechanism used in some cryptocurrencies to validate transactions and secure the network. It is an alternative to Proof-of-Work (PoW), which is used in Bitcoin and other cryptocurrencies.
In a PoS system, network participants are selected to validate transactions and create new blocks based on the amount of cryptocurrency they hold or “stake” in the network. The more cryptocurrency a participant holds, the higher the chances they will be selected to validate transactions and create new blocks.
How does Polkadot distinguish itself from other Proof-of-Stake networks? Polkadot is a blockchain platform that enables communication between different networks, and was founded by Gavin Wood, co-founder of Ethereum and creator of the Solidity language,...
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...
