Who verifies Bitcoin transactions?

Alternatively, on a Proof of Stake blockchain, stakers validate transactions. They lock up their own cryptocurrency as collateral, and are chosen to validate transactions based on the size of their stake. This system is often considered more energy-efficient than Proof of Work.

Both Proof of Work and Proof of Stake have their own strengths and weaknesses. Proof of Work is often praised for its security, but it can be energy-intensive. Proof of Stake, on the other hand, is more scalable and environmentally friendly, but may be more susceptible to certain types of attacks.

BTCC is a top cryptocurrency exchange that offers a range of services to its users. These include spot trading, futures trading, and a cryptocurrency wallet. By providing these services, BTCC enables users to buy, sell, and store their cryptocurrency in a secure and convenient way.

Transactions are verified in a decentralized fashion. This ensures that there is no single point of failure. Instead, multiple participants work together to validate each transaction.

On a Proof of Work blockchain, miners are responsible for verifying transactions. They use powerful computers to solve complex mathematical problems, which takes both time and energy. In return for their work, miners are rewarded with cryptocurrency.