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Proof Of Stake
Proof-of-stake (PoS) protocols are a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof-of-work schemes. The first functioning use of PoS for cryptocurrency was Peercoin in 2012. Description For a blockchain transaction to be recognized, it must be appended to the blockchain. In the proof of stake blockchain the appending entities are named ''minters'' or (in the proof of work blockchains this task is carried out by the miners); in most protocols, the validators receive a reward for doing so. For the blockchain to remain secure, it must have a mechanism to prevent a malicious user or group from taking over a majority of validation. PoS accomplishes this by requiring that validators have some quantity of blockchain tokens, requiring potential attackers to acquire a large fraction of the tokens on the blockchain to mou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consensus (computer Science)
A fundamental problem in distributed computing and multi-agent systems is to achieve overall system reliability in the presence of a number of faulty processes. This often requires coordinating processes to reach consensus, or agree on some data value that is needed during computation. Example applications of consensus include agreeing on what transactions to commit to a database in which order, state machine replication, and atomic broadcasts. Real-world applications often requiring consensus include cloud computing, clock synchronization, PageRank, opinion formation, smart power grids, state estimation, control of UAVs (and multiple robots/agents in general), load balancing, blockchain, and others. Problem description The consensus problem requires agreement among a number of processes (or agents) for a single data value. Some of the processes (agents) may fail or be unreliable in other ways, so consensus protocols must be fault tolerant or resilient. The processes must someho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |