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
Mining
It is the process of the miners verify and adding transaction recors into a block.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) is a look-up service that allows Ethereum users to find websites or send and receive funds via simple names.
Double Spending
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.