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March 09, 2023, 07:26:20 PM Last edit: June 09, 2023, 10:41:51 AM by lucasjansen1980 |
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#CATENA_Network #CMCX_Coin
The Practical Proof of Stake (PPoS) is a consensus algorithm used in blockchain technology to validate transactions and generate new blocks. It is an improvement over the traditional Proof of Stake (PoS) algorithm that was first introduced in 2012.
In PPoS, validators are selected based on their stake or the amount of cryptocurrency they hold. However, unlike PoS, where validators must be online all the time to earn rewards, in PPoS, validators can decide how much time they want to spend online. This provides flexibility and convenience for validators and reduces the risk of losing out on rewards due to downtime.
PPoS also uses a reputation system that helps to prevent bad actors from entering the network. Validators with a high reputation score are given priority when validating transactions and generating new blocks. This ensures that the network remains secure and reliable.
One of the main benefits of PPoS is its energy efficiency. Unlike the Proof of Work (PoW) algorithm used in Bitcoin, which consumes massive amounts of energy, PPoS is much more energy-efficient. This is because it does not require validators to perform complex calculations to validate transactions.
Overall, PPoS is a more practical and efficient consensus algorithm that provides greater security and reliability for blockchain networks.
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