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Consensus Algorithm

proof-of-work-proof-of-stake

Proof of Work vs Proof of Stake – How Do These Consensus Mechanisms Work? Full Explanation

What is the difference between Proof of Work (Pow) and Proof of Stake (PoS) and how do these Consensus Mechanisms work? You’ll know the complete answer in just a few minutes! And you automatically pick up the answers to many more questions! Let’s start.   What are Consensus Mechanisms and how exactly do they work? A …

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ico

What is an ICO? Everything you need to know about Initial Coin Offering

An ICO (Initial Coin Offering) for a cryptocurrency is about the same as what an IPO is for a stock. To raise money for the first time, the cryptocurrency developers are offering a certain portion of their new tokens to the masses and corporate customers. In this way, they hope to raise enough money, with which …

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Proof-of-Capacity

What is Proof of Capacity? Everything you need to know about PoC

Like many different cryptocurrencies. You also have different blockchains. Leading to different consensus algorithms. The consensus algorithm ensures that the rules in a blockchain are complied so transactions can be validated. It’s very crucial. In addition to the popular Proof of Work, there is also Proof of Capacity. This algorithm works slightly differently than PoW. …

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proof-of-burn

What is Proof of Burn? Everything you need to know about PoB

Proof of Burn (PoB) is a reasonable alternative consensus algorithm that you see very often. There are a few blockchains that are using this model. A good chance that you don’t even know what Proof of Burn is. Below you’ll find more about how Proof of Burn works, which advantages and disadvantages, and by who …

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proof-of-participation

What is Proof of Participation? Everything you need to know about PoP

You have probably noticed that there are many different types of consensus algorithms. These algorithms ensure that a blockchain can work properly, and everyone works according to the rules. The best-known algorithm is Proof-of-Work (PoW). A fewer, but newer algorithm is Proof of Participation.   What is Proof of Participation? There are only a few blockchains that …

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consensus-algoritme

What is Consensus Algorithms? And which Algorithms exist?

The consensus algorithm is extremely important for blockchain. It allows the network of a blockchain to work together. Without this algorithm it would be a big mess. So we can be happy with this algorithm. However, there are many different types of consensus algorithms. Which consensus algorithms actually exist? In this article we explain more about Proof of Work , Proof of Stake , Delegated …

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proof-of-stake

What is Proof of Stake? Everything you need to know about PoS

The Proof of Stake (PoS) algorithm is an emerging consensus algorithm. In the near future more blockchains are using this algorithm. They do this because Proof of Stake has several advantages over Proof of Stake. In this article we explain what Proof of Stake is, and what the advantages are compared to the disadvantages that …

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proof-of-work

What is Proof of Work? Everything you need to know about PoW

The very first blockchain ever uses the Proof of Work (PoW) algorithm. It is therefore also the best-known consensus algorithm at the moment. Because miners can validate blocks, they earn money. This keeps the blockchain network running continuously, day and night. Do you already know what Proof of Work is? What is Proof of Work? With the Proof of …

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dlt-crypto

What is Distributed Ledger Technology (DLT)? And how does it work?

If you have some knowledge about blockchain, you have probably come across Distributed Ledger Technology. But what is Distributed Ledger Technology (DLT)? Fortunately, it is not difficult to explain this technology. We have several examples of DLT so that you will understand it quickly and easily. What is Distributed Ledger Technology (DLT)? Chances are you know how central …

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proof-of-authority

What is Proof of Authority (PoA)? Everything you need to know about (PoA)

One of the several consensus algorithms is Proof of Authority. In this algorithm, consensus is reached by several selected validators. These validators are selected in advance by the network. However, this group of nodes is a lot smaller than with algorithms such as Proof of Work and Proof of Stake. In this article we are happy to explain what …

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