The Proof of Burn Consensus Mechanism

The Proof of Burn Consensus Mechanism

Proof of Burn (PoB) is one of the several blockchain protocols used for the validation of transactions. Unlike consensus mechanisms like Proof of Work (Pow) and Proof of Stake (PoS), PoB utilizes the erasure or destruction of cryptocurrencies to secure blockchain networks. Miners must put forward a PoB transaction if they are to generate…