Cryptocurrency Mining and Proof of Stake Algorithms

Written by bybit | Published 2021/07/13
Tech Story Tags: bybit | blockchain | proof-of-stake-in-blockchain | cryptocurrency | investing-in-blockchain | learn-about-blockchain | pos-consensus | good-company

TLDR Proof of Stake (PoS) is a consensus algorithm under which randomly chosen validation nodes (validators) stake native tokens (staking) of the blockchain network. A validator will receive rewards by successfully adding blocks to the current blockchain. PoS also protocols use pseudo-random sequencing to choose validators for block forging (generation) Randomized block selection focuses on validators with a combination of the highest stake and lowest hash value. A higher stake improves the chances of a node being selected for forging the block.via the TL;DR App

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Written by bybit | Bybit, a crypto exchange, offers an ultra-fast matching engine across Spot, F&O, launchpads, earn products, NFTs & more.
Published by HackerNoon on 2021/07/13