Proof-of-Burn (PoB)

CoinGecko által | Frissítve ekkor: Mar 03, 2020
On a technical layer, Proof of Burn performs block validation in the same way as Proof of Work, whereby the chances of a miner to mine a block depends on the resource they have commit to increase its mining speed. However, whereas Proof of Work gives better chances to miners with more mining power, Proof of Burn consensus allows miners to burn a coin/token to obtain the rights to better chances. Ergo, burning coins lets miners buy "virtual mining rigs" to improve their odds of mining block. The Idea behind proof of burn is to address the intensive energy usage in Proof of Work consensus algoritm by allowing miners to also spend intensive resources to prove a miner's commitment

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Kapcsolódó kifejezések

Consensus
Consensus is achieved in a blockchain system when all participants agree on the content of the next block that will be added onto the blockchain.
All-Time-High (ATH)
The highest point (in price, in market capitalization) that a cryptocurrency has been in history.
Mempool
It is the abbreviation of Memory Pool. Set of unconfirmed transactions in a blockchain
Daily Active Addresses (DAA)
On a blockchain, users interact with one another through their addresses, and daily active addresses (DAA) refers to the number of addresses which fulfills the defined activity parameter on a given blockchain.
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