dido:public:ra:xapend:xapend.k_consensus:02_mechanism:poa
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dido:public:ra:xapend:xapend.k_consensus:02_mechanism:poa [2021/08/09 15:15] murphy |
dido:public:ra:xapend:xapend.k_consensus:02_mechanism:poa [2021/08/13 14:01] (current) murphy |
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| - | //**Proof of Activity (PoA)** is a [[dido:public:ra:xapend:xapend.a_glossary:b:blockchain|blockchain]] [[dido:public:ra:xapend:xapend.a_glossary:c:consensus_algorithm|consensus algorithm]] used in cryptocurrencies and similar systems. It is used to ensure that all transactions occurring on the blockchain are genuine, as well as to ensure that all miners arrive at a consensus. PoA is a combination of two other blockchain consensus algorithms: proof-of-work (PoW) and proof-of-stake (PoS).// | + | //**Proof of Activity (PoA)** is a [[dido:public:ra:xapend:xapend.a_glossary:b:blockchain|blockchain]] [[dido:public:ra:xapend:xapend.a_glossary:c:consensus_algorithm|consensus algorithm]] used in cryptocurrencies and similar systems. It is used to ensure that all transactions occurring on the blockchain are genuine, as well as to ensure that all miners arrive at a consensus. PoA is a combination of two other blockchain consensus algorithms: [[dido:public:ra:xapend:xapend.a_glossary:p:proof_of_work|proof-of-work (PoW)]] and [[dido:public:ra:xapend:xapend.a_glossary:p:proof_of_stake_pos|proof-of-stake (PoS)]].// |
| //[[dido:public:ra:xapend:xapend.a_glossary:b:bitcoin|Bitcoin]], the most popular [[dido:public:ra:xapend:xapend.a_glossary:c:cryptocurrency|cryptocurrency]], uses the PoW consensus algorithm. A special feature of this algorithm is that it increases the [[dido:public:ra:xapend:xapend.a_glossary:d:difficulty|difficulty]] level of the [[dido:public:ra:xapend:xapend.a_glossary:m:mining|mining]] as time passes by. This method also prevents the bitcoin network from being hacked. However, because the difficulty of mining increases more and more computing power must be used. As a result of there being more energy consumption, there are more costs involved (including the costs of wear and tear on the hardware).// | //[[dido:public:ra:xapend:xapend.a_glossary:b:bitcoin|Bitcoin]], the most popular [[dido:public:ra:xapend:xapend.a_glossary:c:cryptocurrency|cryptocurrency]], uses the PoW consensus algorithm. A special feature of this algorithm is that it increases the [[dido:public:ra:xapend:xapend.a_glossary:d:difficulty|difficulty]] level of the [[dido:public:ra:xapend:xapend.a_glossary:m:mining|mining]] as time passes by. This method also prevents the bitcoin network from being hacked. However, because the difficulty of mining increases more and more computing power must be used. As a result of there being more energy consumption, there are more costs involved (including the costs of wear and tear on the hardware).// | ||
dido/public/ra/xapend/xapend.k_consensus/02_mechanism/poa.1628536513.txt.gz ยท Last modified: 2021/08/09 15:15 by murphy
