Proof-of-Burn (PoB)

Od użytkownika CoinGecko | Data aktualizacji 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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Hasła pokrewne

Ponzi Scheme
A Ponzi scheme is also referred to as pyramid scheme, and typically takes the form of an investment scheme which pays existing investors with funds collected from new investors.
Ask Me Anything (AMA)
Ask me anything refers to actions where individuals of certain profession (eg. fireman, nurse, journalists) or company (eg. CEO of Tesla) conduct a session for users to ask them questions.
Wei
The smallest fraction of an Ether, with each Ether to 1000000000000000000 Wei.
Proof-of-Developer (PoD)
A concept of identifying the developers of a project as a means of vouching reputation for a project
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