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Questions tagged [proof-of-stake]

Proof of stake is an alternative consensus mechanism that adapts mining success chances with the proportion of the cryptocurrency's tokens held by the miner.

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What is proof-of-stake?

As we know one of the important mechanisms of Bitcoin is proof-of-work. How does the concept of proof-of-stake work? How does it differ from proof-of-work?
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How does proof-of-stake “mining” work?

I know and understand the concept of proof-of-stake. Instead of requiring users to do a certain amount of power-intensive hashing "work", it requires you to own a certain stake of the currency in ...
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Are there alternatives for proof of work?

Bitcoin uses proof of work to secure the network, Ripple uses a global consensus system and PPCoin uses proof of stake. Are there any known alternatives to the above methods?
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Why is POW/POS absolutely necessary to run public distributed ledger?

my first question here, so please be patient with me. Thank you in advance. Q: Why exactly are POW/POS mechanisms needed to secure the blockchain (in bitcoin as well as in other alts)? + what is ...
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What are the downsides of proof of stake?

I am very skeptical about the security of the proof of stake system. Is it really that secure? Are there no disadvantages?
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2answers
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What is Proof of Burn?

Can someone explain me: What is Proof of Burn What is the difference between Proof of Burn and Proof of Work How Proof of burn works Which virtual currency uses Proof of burn technology instead of ...
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How does Proof of Burn work?

I have been trying to make a comparison between PoW, PoS and Proof of Burn. While I understood the other two, I want to know how exactly Proof of Burn helps in attaining the consensus. One burns ...
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Is Ethereum essentially Bitcoin with Turing-complete Script?

Is Ethereum essentially Bitcoin with a Turing-complete scripting language and, if I understand correctly, where the script to be executed (not its hash) is placed in the Ethereum blockchain? If so, ...
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altcoin debug.log shows ERROR: CTxDB::LoadBlockIndex() : Failed stake modifier checkpoint height=0

What I have done so far: Generated new Genesis Block Generated new MerkleRoot Updated MerkleRoot Updated Genesis block values Commented out these lines Compiled on CentOS 6 Created altcoin....
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1answer
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How is the next forger decided in Nxt?

I've read both the Nxt whitepaper and many other resources on the wiki but I still can't seem to understand how exactly the forging process works. From what I understand, there are a bunch of online ...
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2answers
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How does Nxt agree on a chain when “active accounts” can be easily faked?

From what I understand, in Nxt, blocks are mined (or forged) using a system based on Proof-of-Stake where block creation works similarly to a lottery: people have tickets, and the more tickets you ...
3
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1answer
2k views

Are all strategies to mine PPCoin Proof of Stake blocks equivalent?

Alice, Bob and Charlie each own 100 PPCoin, and would like to generate more using Proof of Stake. Alice keeps her ppcoind running all the time Bob stores them offline for a year, and then runs ...
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1answer
463 views

Peercoin proof-of-stake: When a person with large computing power and a person with a large stake both compete to generate a new block who wins?

In other words, if one user is trying to find a block using staked coins and another using PoW, which one will find it and why? Will there be a fork in the blockchain in this scenario? If yes, then ...
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1answer
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In Peercoin style Proof of Stake, can one person 'stake' for another's address?

The parameters included in the staking are listed here: // ppcoin kernel protocol // coinstake must meet hash target according to the protocol: // kernel (input 0) must meet the formula // hash(...