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What Is Proof of Stake?
One of the most important aspects of blockchain technology is the security of the ledger - the way the decentralized network of computers is able to verify blockchain transactions and determine which branch of the blockchain is correct. Proof of Stake was developed in 2012 and is now in use by some big projects including Ethereum, Cosmos, Solana, Cardano, Tezos and dozens of others. Lets chat about what Proof of Stake is, why it was introduced, and how it works, and some of the advantages and disadvantages it offers.
Research & Attribution:
What is Proof of Work?: https://www.youtube.com/watch?v=6xRVfzoGMK0
https://www.whitehouse.gov/wp-content/uploads/2022/09/09-2022-Crypto-Assets-and-Climate-Report.pdf
https://ethereum.org/en/developers/docs/consensus-mechanisms/pos/
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Web3 Working Group is a 501(c)(3) nonprofit organization. Our purpose is to educate about web3 infrastructure and how it's distinct from financial services in the cryptocurrency industry. We educate about how web3 infrastructure will decentralize the web and permanently restore user control of cyberspace, replacing centralized control with transparent and permissionless protocols through incentives aligned with users. See more at www.web3wg.org
#Crypto, #Public key, #Cryptography, #network security, #Bitcoin, #Cryptocurrency, #Blockchain, #Blockchaintechnology, #Blockchainexplained, #Algorithm, #Whatisblockchain, #Blockchainfordummies, #Understand, #Explained
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