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January 1, 2018· Electronics and Information Technologies
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Pros and cons of consensus algorithm proof of stake. Difference in the network safety in proof of work and proof of stake

Authors:Oleksandr VashchukRoman Shuwar

Abstract

The consensus algorithm is a mechanism that allows you to protect the network against attacks. The work of the algorithm is to provide rules that act on the network members. Proof of Work is one of the consensus algorithms based on the calculation of a complex algorithmic problem. This algorithm requires significant computing power to maintain its performance and therefore is superfluous. An alternative algorithm -Proof of Stake does not require so many resources to maintain network performance, but has a number of shortcomings.

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