Proof of Trust (PoT) Summary [Cryptocurrency consensus mechanisms]

In a Proof of Trust system, users in a network gain trust as they participate in special activities within the network.

If a user tries to defraud the system, the trust is lost and they lose an equivalent amount in value (the cryptocurrency or token employed).

In a Proof of Trust system, "trust" is staked instead of tokens or coins.

Some Proof of Trust systems, such as COTI, combine Proof of Work and trust staking as a hybrid system of consensus.


Return to main article: ELI5 Summary of cryptocurrency consensus mechanisms

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Published by Crypto Bill - Bill is a writer, geek, crypto-curious polyheurist, a dog's best friend and coffee addict. Information security expert, encryption software with interests in P2P networking, decentralized applications (dApps), smart contracts and crypto based payment solutions. Learn More About Us
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