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 | |||
|
dido:public:ra:xapend:xapend.k_consensus:02_mechanism:pob [2021/08/13 12:55] 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 [[dido:public:ra:xapend:xapend.a_glossary:p:principle|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.1628873714.txt.gz · Last modified: 2021/08/13 12:55 by murphy
