The Proof of Stake Consensus Mechanism

The Proof of Stake Consensus Mechanism

Due to their decentralized infrastructure, cryptocurrencies require their own means of confirming transactions, which also means that they lack the centralized oversight of traditional financial institutions. The term “proof-of-stake” refers to one of several means that can be used to verify a transaction.

The proof-of-stake consensus mechanism was created to address some of the underlying issues of its predecessor, the proof-of-work consensus, which is still used by…

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