Proof-of-Burn (PoB)

Di CoinGecko | Aggiornato il 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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Termini correlati

Mining
It is the process of the miners verify and adding transaction recors into a block.
Zero Knowledge Proof
Cryptographic proof for 2 parties to verify a value without revealing what the value is.
Pre-sale
A typically exclusive token sale event preceding a public ICO
Market Taker
Participant of the market who buys and sells from currently existing orders
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