Consensus mechanisms in cryptocurrency: understanding of work evidence (POW) and stock evidence (POS)
Crypto currencies such as Bitcoin, Ethereum and others are digital or virtual currencies, whose cryptography is used for safety and decentralized control. In order to maintain this cryptocurrency integrity, it is necessary to confirm the transactions and ensure that all participants agree on the condition of the blockchain.
In this article, we will be carried out in the two most common consensus mechanisms used in cryptocurrency: evidence of work (copper) and role -proof (POS).
Work Proof (POW)
Proof of work is one of the earlier and most commonly used unanimity algorithms. For the first time in Satoshi Nakamoto, he was presented as a solution to problems with difficulty in the Bitcoin mining process.
Here’s how Pow works:
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Rudari competes : The miners compete for sophisticated mathematical puzzles that require significant computer power.
- Solving the Puzzle : The miner that solves the dough, first adds new blockchain transaction blocks and transmits them into the network.
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Validation : Validators (miners) who first solved the dough, have more chosen to be selected to create new blocks that they then broadcast on the network.
- Power Consumption : Non -dough solving requires significant computer power, which can lead to high power consumption and environmental degradation.
Example: Bitcoin extraction
To illustrate how POW works, let’s consider an example:
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Puzzle Solution : Rudar solves a sophisticated mathematical dough that requires 100 million computers.
- Awarded : Miner must create new business blocks and are transmitted to the network.
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Energy Consumption : The miner spent about 10 minutes of electricity to solve the dough.
Evidence of membership (POS)
Accoming proof is a unanimous algorithm introduced by Satoshi Nakamoto in 2014 as an alternative to Powru. It is designed to be more efficient and environmentally friendly.
Here’s how POS works:
- Stakeholders participate in : Anyone who owns or has a certain amount of crypto currency can invest their own coins.
- Validators were selected
: Validator group (stakeholders) was accidentally selected from the owner’s base.
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The roles are burned : Validators with larger roots have more options to choose to create new blocks that they then transmit to the network.
- Power Consumption : Creating a new block requires lower computer power compared to POW.
Example: Ethereum Gas Validation
To illustrate how POS works on Ethereum, let’s consider an example:
- Investment and Validation Test : Anyone who owns or has a certain amount of Ethereum can install their own coins.
- Validators were selected : Validator group (stakeholders) was accidentally selected from the owner’s base.
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Gas -based gas -based : The biggest gas limit to create new blocks must create a new block.
- Power Consumption : Creating a new block requires lower computer power compared to POW.
Conclusion
In conclusion, both the evidence of the job (POW) and the evidence of the promotion (POS) are widely used by the unanimity mechanisms in the cryptocurrency currency. Although Pow was the initial solution introduced by Satoshi Nakamoto in 2008, POS gained popularity as an alternative because it has possible energy efficiency and environmental sustainability.
However, it is important to note that both algorithms have their own limitations and vulnerability. For example, POW is sensitive to ASIC mining (an integrated circle specific to the application), while Po may be vulnerable to 51% of the attack if one entity controls more than half of the roles.
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