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Proof-of-stake

Proof-of-stake

Proof-of-stake (PoS) is a system by which a network (e.g., a cryptocurrency blockchain) aims to achieve distributed consensus.

All edits by  Paul S. Chun 

Edits on 24 Jan 2018
Paul S. Chun
Paul S. Chun edited on 24 Jan 2018 5:14 pm

Article

The first example of a PoS system was PeercoinPeercoin.

Paul S. Chun
Paul S. Chun edited on 24 Jan 2018 5:14 pm

Article

Proof of stake is a type of blockchainblockchain consensus algorithm that relies on participants having an economic stake in the success of the network. Unlike proof-of-work (PoW) based systems/algorithms where the algorithm rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining), in PoS-based system the creator of the next ledger update (eg a blockchain block) is chosen in a deterministic and pseudo-random way where the probability that an account is chosen depends on the accounts stake in the system (eg its wealth in a system).

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