dido:public:ra:xapend:xapend.k_consensus:02_mechanism:pob
Differences
This shows you the differences between two versions of the page.
| Both sides previous revision Previous revision Next revision | Previous revision | ||
|
dido:public:ra:xapend:xapend.k_consensus:02_mechanism:pob [2021/08/09 15:14] murphy |
dido:public:ra:xapend:xapend.k_consensus:02_mechanism:pob [2021/08/18 10:15] (current) murphy |
||
|---|---|---|---|
| Line 11: | Line 11: | ||
| )): | )): | ||
| - | //**Proof of Burn (PoB)** is one of the several consensus mechanism algorithms implemented by a [[dido:public:ra:xapend:xapend.a_glossary:b:blockchain_network|blockchain network]] to ensure that all participating nodes come to an agreement about the true and valid state of the blockchain network. POB is often called a POW system without energy waste. It operates on the principle of allowing miners to “burn” virtual currency tokens. They are then granted the right to write blocks in proportion to the coins burnt.// | + | //**Proof of Burn (PoB)** is one of the several consensus mechanism algorithms implemented by a [[dido:public:ra:xapend:xapend.a_glossary:b:blockchain_network|blockchain network]] to ensure that all participating nodes come to an agreement about the true and valid state of the blockchain network. POB is often called a POW system without energy waste. It operates on the [[dido:public:ra:xapend:xapend.a_glossary:p:principle|principle]] of allowing miners to “burn” virtual currency [[dido:public:ra:xapend:xapend.a_glossary:t:tokens|tokens]]. They are then granted the right to write blocks in proportion to the coins burnt.// |
| //Iain Stewart, the inventor of the POB algorithm, uses an analogy to describe the algorithm: burnt [[dido:public:ra:xapend:xapend.a_glossary:c:coins|coins]] are like mining rigs. In this analogy, a miner burns their coins to buy a virtual [[dido:public:ra:xapend:xapend.a_glossary:m:mining|mining]] rig that gives them the power to mine blocks. The more coins burned by the miner, the bigger their virtual mining "rig" will be.// | //Iain Stewart, the inventor of the POB algorithm, uses an analogy to describe the algorithm: burnt [[dido:public:ra:xapend:xapend.a_glossary:c:coins|coins]] are like mining rigs. In this analogy, a miner burns their coins to buy a virtual [[dido:public:ra:xapend:xapend.a_glossary:m:mining|mining]] rig that gives them the power to mine blocks. The more coins burned by the miner, the bigger their virtual mining "rig" will be.// | ||
dido/public/ra/xapend/xapend.k_consensus/02_mechanism/pob.1628536499.txt.gz · Last modified: 2021/08/09 15:14 by murphy
