See Also
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 […]
Opinion: Our 2018 cryptocurrency portfolio: Events to look forward to and pitfalls to avoid [Feb 2018]
Few events have the power to make a cryptocurrency multiply 10X. Being widely adopted, becoming the standard in its niche, developing an innovative or very unique feature, having a great community around it – all these have the power to increase a crypto’s value many times over. But what are some possible catalysts for cryptocurrency […]
Proof of Authority (PoA) Summary [Cryptocurrency consensus mechanisms]
Proof of Authority is a consensus mechanism where members of a cryptocurrency network are identified and receive delegated powers to solve blocks. If they defraud the system their identity is at stake and they will either be prosecuted or booted from the network. This is a centralized system where a higher authority delegates mining powers […]
Proof of Location (PoL) Summary [Cryptocurrency consensus mechanisms]
In a Proof of Location consensus algorithm, users’ geospatial coordinates are accounted for as proof of value. This kind of algorithm is usually employed in cryptocurrency geomining systems. In a geomining application, users earn rewards for being at a certain place at a certain time. If, for example, a company wished to gather participants for […]