A process or system by which multiple parties are able to reach consensus. In the context of cryptocurrencies, it’s the process which allows for everyone to agree on everyone else’s money balance. E.g. Bitcoin employs Nakamoto consensus via PoW mining.
bitcoind.cpp – Commented Bitcoin source code
As mentioned in the Bitcoin-Qt commented source code post, there are several approaches one can take to step into the Bitcoin source in approximately the same order as it runs. For instance, tests are a great source of tiny example programs. Then there’s the ubiquitous Bitcoin-Qt client and, of course, bitcoind. All are good options […]
Proof of Space Time (PoST) Summary [Cryptocurrency consensus mechanisms]
Physicists have been discussing spacetime since the early 1900’s. A very smart person, by the name of Albert Einstein, modeled space as 4 dimensions rather than just 3. The axis were then X, Y, Z and …. time. Fortunately, you don’t need to understand Relativity Theory in order to grasp Proof of Spacetime! PoST Fast […]
The 34 most profitable Proof of Stake (PoS) coins for 2021
In this article we take a look at several Proof of Stake (PoS) coins for investors building passive income streams. With the DeFi craze causing extremely high Ethereum fees, more and more investors look to PoS instead. Before You StartIf you’re not familiar with Proof of Work, Proof of Stake and cryptocurrency mining/staking, then please […]
ELI5 Bitcoin Puzzle Transactions
As the name implies, Bitcoin puzzle transactions are created as a challenge and not for the usual purpose of monetary transfer. Puzzles can be published for several reasons, including software test bounties, marketing campaigns or just for fun. Early Puzzles In the early days of Bitcoin, when $BTC coins could be found for free on […]
Concepts In This Page
A process or system by which multiple parties are able to reach consensus. In the context of cryptocurrencies, it's the process which allows for everyone to agree on everyone else's money balance. E.g. Bitcoin employs Nakamoto consensus via PoW mining.
Proof of Stake
Proof of Stake is a consensus mechanism in which block verifiers prove their commitment to the network by staking their coins instead of by proving they performed some work (contrast with Proof of Work).
Staking is the process by which users delegate their Proof of Stake voting rights to a staking pool. The pool then verifies transactions on the users' behalf and, similarly to mining pools, share some of the profits back with the stakers.
Bitcoin is the world's first viable decentralized cryptocurrency. It was released on January 2009 by Satoshi Nakamoto.
A Bitcoin Puzzle is a cryptographic puzzle which carries Bitcoin as a reward. Those able to break the cryptography obtain access to the private key needed to unlock the Bitcoin.
A concept of value exchange that does not require physical tokens (coins or paper cash) to be used in order to trade. Cryptocurrencies are a type of digital money.
A distributed ledger is a decentralized financial database with data stored across multiple locations.
Hal Finney was a cryptographer who pioneered the development of Bitcoin. Finney received the first ever Bitcoin transfer.
Abbreviation of Proof of Location consensus mechanism.