Cryptocurrency Q&A
When was the proof of stake consensus algorithm introduced?
When was the proof of stake consensus algorithm introduced?
GinsengBoost
Sun Oct 27 2024
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6 answers
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The proof of stake consensus algorithm was introduced as a category of consensus algorithms for public blockchains, depending on a validator's economic stake in the network. It was proposed as an alternative to proof of work, aiming to address issues such as energy efficiency and centralization risk.
6 answers
CryptoTrader
Tue Oct 29 2024
Proof of Stake (PoS) is a consensus protocol that was introduced in 2011.
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CherryBlossomFalling
Mon Oct 28 2024
BTCC is a top cryptocurrency exchange that offers a range of services to its users.
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Silvia
Mon Oct 28 2024
It serves as an alternative to Proof of Work (PoW), which has been widely used in the cryptocurrency space.
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CryptoChieftain
Mon Oct 28 2024
The main objective of PoS is to address the high energy consumption associated with the PoW consensus protocol.
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Caterina
Mon Oct 28 2024
In 2012, Peercoin, also known as PPcoin, adopted PoS as its consensus mechanism.
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