Blockchains use consensus algorithms to choose who gets to verify transactions on the network — what are the differences between the two? Consensus algorithms are processes where validators (also known as nodes or miners) within a blockchain network agree on the current state of the network. This mainly entails agreeing on whether a transaction submitted […]
Tag Archives: Proof-of-Stake
The risk of corporate capture is extreme in proof-of-stake (PoS) systems as PoS transforms novel financial systems into pure plutocracies; dozens of US-based high-profile companies warned in a letter to the US Environmental Protection Agency. The companies were firing back at the attack by Congressman Jared Huffman who recently described Bitcoin (BTC) mining as something […]