Proof-of-Stake<\/a> consensus, tokens are allocated the responsibility of maintaining the public ledger. Therefore, owners of tokens will sometimes become validators and will be rewarded for simply holding their coins. Like PoW, the rewards are the native token of the blockchain and are how new tokens are entered into circulation.<\/p>\n\n\n\nProof-of-Capacity (PoC)<\/h3>\n\n\n\n
Proof-of-Capacity shares the memory space of the nodes on the network. The more memory a node offers, the more rights it has to maintain the public ledger's data.<\/p>\n\n\n\n
Proof-of-Activity (PoA)<\/h3>\n\n\n\n
Proof-of-Activity is a hybrid consensus of PoW and PoS. Mining begins with PoW, once the block is found it switches to the PoS consensus and a random participant is selected to validate the block.<\/p>\n\n\n\n
Proof-of-Authority (PoA)<\/h3>\n\n\n\n
In Proof-of-Stake consensus nodes stake monetary value whereas Proof-of-Authority consensus stakes the actual identities of the nodes in the system. Through identifying validators, PoA consensus becomes fundamentally centralized and is best suited for private blockchains such as a group of banks.<\/p>\n\n\n\n
Proof-of-Burn (PoB)<\/h3>\n\n\n\n
In Proof-of-Burn, transactors send small amounts of cryptocurrency to inaccessible wallet addresses, to \"burn\" them from the circulating supply. This slowly decreases the supply, making each token still in circulation more valuable as time goes on.<\/p>\n","post_title":"Consensus Mechanisms","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"consensus-mechanisms","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/cryptocurrency-mining\/\nhttps:\/\/www.thedistributed.co\/proof-of-stake\/","post_modified":"2022-08-01 20:23:54","post_modified_gmt":"2022-08-01 10:23:54","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4119","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n
A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n
How Does A 51% Attack Work?<\/h2>\n\n\n\n
Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n
The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\nBut when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n
The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n
<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
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\nAt the time of writing Ethereum is trading at US$1,886 - up almost 100% since June.<\/p>\n\n\n
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