1 thought on “What is POS algorithm and POS mechanism”
Bryant
POS is a consensus algorithm in the public chain, as a replacement of POW. POW is a mechanism for ensuring Bitcoin, currently Ethereum and many blockchain security, but the POW algorithm is accused during the mining process, because POS tries to replace mining through a different mechanism to replace mining mining through a different mechanism. The concept of solving these problems.
PS mechanism can be described as a virtual mining. Given that POW mainly depends on the scarcity of calculating hardware to prevent witch attacks. In POW, a user may use a 1,000 dollars to buy a computer, join the network to mine, and generate new blocks to get rewards. In POS, users can get $ 1,000, buy equivalent tokens, and place these tokens as deposits in the POS mechanism. As long as the user has the opportunity to generate, the user can get a reward.
The POS algorithm is as follows. There is a collection of a currency holder. They put the tokens in their hands into the POS mechanism, so that they become verificationrs.
POS is a consensus algorithm in the public chain, as a replacement of POW. POW is a mechanism for ensuring Bitcoin, currently Ethereum and many blockchain security, but the POW algorithm is accused during the mining process, because POS tries to replace mining through a different mechanism to replace mining mining through a different mechanism. The concept of solving these problems.
PS mechanism can be described as a virtual mining. Given that POW mainly depends on the scarcity of calculating hardware to prevent witch attacks. In POW, a user may use a 1,000 dollars to buy a computer, join the network to mine, and generate new blocks to get rewards. In POS, users can get $ 1,000, buy equivalent tokens, and place these tokens as deposits in the POS mechanism. As long as the user has the opportunity to generate, the user can get a reward.
The POS algorithm is as follows. There is a collection of a currency holder. They put the tokens in their hands into the POS mechanism, so that they become verificationrs.