Understanding Effective Proof-of-Stake
Effective Proof-of-Stake (PoS) is a modified version of the Proof-of-Stake consensus mechanism introduced by Harmony.
It incorporates random state sharding to ensure decentralization and prevent the concentration of power among large stakeholders on the network.
Exploring Proof of Stake (PoS) Consensus Mechanism
The Proof of Stake (PoS) consensus mechanism is a method used to generate new blocks and address the issue of double-counting in a blockchain network.
In PoS, individuals who hold cryptocurrencies can stake their coins to validate transactions and receive rewards in return.
Environmentally Friendly Consensus Mechanism
This consensus mechanism serves as an alternative to Proof of Work (PoW), where miners need to solve complex problems to create new blocks.
In contrast, in PoS, the difficulty of building a block increases based on the number of coins staked by the validator.