Proof of Stake (PoS)
By CoinGecko | Updated on Mar 03, 2020
Initially designed to address the massive energy consumption. Rather than requiring miners / validators to spend resources on energy computational infrastructure, Proof of Stake is a consensus algoritm elects block validators to sign blocks based on the stake weight (an aggregate of how much token was staked and the length of time staked) of each validator.
Related Terms
Token Burn
An event in which tokens are verifiably removed permanently removed from circulation.
Bitcoin Improvement Proposal (BIP)
Refers to improvement proposals for Bitcoin, used to introduce features or any updates on the Bitcoin network.
UTC Time
"Universal Time Coordinated", can be used interchangably with Greenwich Mean Time (GMT).
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Individuals who are passionate about Bitcoin, and are dedicated in spreading knowlege about Bitcoin
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