Bitcoin Forum

Hi guys, could you please briefly explain me what does the following mean?


Proof of stake

Proof of work - mineable?

Proof of burn - Burning tokens, i got it

Proof of concept

I tried to google it but it is too diff for me to understand :(( so pls explain it for absolutely dumb misa :( thx

PoS - Mining is not about hashpower anymore, but rather about the percentage of coins you own in total. Say you own 1% of the total marketcap, you would be able to mine 1% of all the transactions. / which is called 'staking'.

PoW - Exactly like the name, it is a system that needs work ( math ), to prevent abuse of the service. In a total noob definition: These are all the coins that are mineable by CPU / GPU.

PoB -

PoC - Not sure, but i guess it's something along the lines of a random identity that, as soon it is somehow verified, gives you a reward? See the link below, i've never heard about this before.

http://cryptomining-blog.com/tag/poc/

Proof of research - contribute computing power to the network, and solve mathematical problems
http://wiki.gridcoin.us/Proof-of-Research

Proof of stake - consensus method for processing transactions / securing the network based on an investors stake in the network and age of the coins
https://en.wikipedia.org/wiki/Proof-of-stake

Proof of work - consensus method for processing transactions / securing the network based on solving cryptographic hashes, depends on the hash rate of the equipment deployed for mining

Another method for consensus is Directed Acrylic Graphs and is used for Byteball and Iota.

Proof of concept - has nothing to do with mining or minting (used as a synonym for staking), this means a simplified model which proves that a methodology is feasible

Oh my friend this is just the tip of the iceberg.  How about
PBFT (Practical Byzantine Fault Tolerance) that is used with Ripple and Hyperledger Fabric----"Each ‘general’ maintains an internal state (ongoing specific information or status). When a ‘general’ receives a message, they use the message in conjunction with their internal state to run a computation or operation. This computation in turn tells that individual ‘general’ what to think about the message in question. Then, after reaching his individual decision about the new message, that ‘general’ shares that decision with all the other ‘generals’ in the system. A consensus decision is determined based on the total decisions submitted by all generals"

Proof of Elapsed Time that Intel is developing with Sawtooth on the Hyperledger Project.  This seems promising and energy efficient as it goes back to CPU's and not ASICS or GPU's

thanks!! :)

Good answer but I would just like to add some examples to that.

Proof of stake - Stratis, cream, sprouts and a few others.
Proof of work - Doge, Bitcoin, litecoin.
Proof of concept - Raiblocks.

Sorry I can't really think of many POS coins right now. :(

The best to way to explain it is to imagine yourself opening a bank account. The usual procedure is to ask for identification and everything. And then they will ask for how much are you going to deposit.Then you will say that I am going to deposit one million dollars but it is in my house right now. The bank will not accept your application to open an account because you don't have PROOF that you have money. In this case proof of money. That is generally how to imagine the above terminologies. You must have proof that you really have something valuable in your possesion.

Base on what i search here in forum about POB its not a proof of burn its a proof of bruteforce base on the thread i searched here in forum
Check it here for more info https://bitcointalk.org/index.php?topic=1640586.0

And for POC its for proof of capacity or proof of concept the above  posted is right but there are other meaning much better to check this thread https://bitcointalk.org/index.php?topic=2257156.0
Your question already been asking by other people here in forum..

Is there some link with all this explenations with all this concepts for noob's like i am...i can't find it on forum...
tnx for help

Hi, there is a nice explanation about it at the bitcoin stack exchange:
https://bitcoin.stackexchange.com/questions/43467/whats-the-difference-between-pow-and-pos


TLD;R:

Proof of work (PoW) requires proof that work of some kind occurred. In the case of Bitcoin miners are required to do this work before any of their blocks is accepted by others.
Proof of stake (PoS) requires users that have a high stake at the currency (i.e. hold a lot of coins) to determine the next block. This has a high risk of some party achieving monopoly of the currency but there are several methods to prevent that (by allocating random stakeholders to agree on a new block, and others).


Basically Pow Requires you to do work in order to mine the next block( to actually have a mining machine connected to a node which solves things in order to prove that it had some work done in order to mine the block and get the reward.

PoS, on a different way, only requires you to have network tokens  on your address, and you basically have the chance of mining the next block and get the block reward without doing anything.

Check this explanation on PoS and PoW, it's good.
https://blog.wavesplatform.com/review-of-blockchain-consensus-mechanisms-f575afae38f2?gi=227fd61231e

Proof of concept usually means some fact of research or testing a prototype for new startup (crypto or not, does not matter).
For ex. you propose that shoes should be sold separately, so if someone rips one of them, he ll be able to buy only one new.
To convince investors to give you money for the project, you need to show them that your whole 'single shoe concept' is viable. For example you can register on eBay and start selling them. Or in any other way. That's proof of concept.

Thanks for the references, I was looking for this. Because some new token from airdrops and bounties makes me confuse. Some of them makes this PoS and PoW as and advantages. Still learning on it. Thanks

Yeah, examples makes me easily understand those above explanation. Any other example of PoC?

i had in mind some link or topic...one place where all this would be explained...like blockchain, segwit2x, hard-fork, solo-mining, dual-mining, hydro-mining,airdrop,ICO, altcoin...all basic stuff wich would help begginer to start understand...

This thread might be help bro. One place indexed terminologies.
https://bitcointalk.org/index.php?topic=126798.0
PoS and PoW are already indexed there. And many more

PoB: https://bitcointalk.org/index.php?topic=1141676.0

i think also PoC means Proof of community !   if someone can develop and tell us the different with proof of concept !? :)