What is Supernode Proof of Stake and Can it Replace Proof of Stake?by@falconite
1,618 reads
1,618 reads

What is Supernode Proof of Stake and Can it Replace Proof of Stake?

by Rohit Chatterjee9mDecember 23rd, 2019
Read on Terminal Reader
Read this story w/o Javascript
tldt arrow

Too Long; Didn't Read

The consensus algorithm is responsible for the 3 critical aspects of blockchain technology – scalability, security and decentralization. Proof-of-Work (PoW) is the backbone of the Bitcoin blockchain, but it has been in existence even before the idea of Bitcoin came into existence. PoW is the choice of consensus algorithm for some of the largest market cap cryptocurrencies out there today, such as Bitcoin Cash. The total power involved in the mining of Bitcoin today is as high as the total energy consumption of the Czech Republic. Bitcoin suffers from a vulnerability called the 51% attack, if a single entity can control 51% of the total hash power of the network.

People Mentioned

Mention Thumbnail

Companies Mentioned

Mention Thumbnail
Mention Thumbnail

Coins Mentioned

Mention Thumbnail
Mention Thumbnail
featured image - What is Supernode Proof of Stake and Can it Replace Proof of Stake?
Rohit Chatterjee HackerNoon profile picture
Rohit Chatterjee

Rohit Chatterjee

@falconite

Share Your Thoughts

About Author

Rohit Chatterjee HackerNoon profile picture
Rohit Chatterjee@falconite

TOPICS

THIS ARTICLE WAS FEATURED IN...

Permanent on Arweave
Read on Terminal Reader
Read this story in a terminal
 Terminal
Read this story w/o Javascript
Read this story w/o Javascript
 Lite
L O A D I N G
. . . comments & more!