Digital-SUS

09/04/2024

29/11/2023

Save the Date:
Barrister Abdul-hadee lsah Ibrahim's wedding is around the corner

Allah yakaimu, kuma Allah yasanya alkhari amin

26/11/2023

Tunanin holding? to karka manta da Tokens dake da Blockchain irin
Core,Sui,Sei,Arb,Zksync era etc

26/11/2023

Ance Solana zata iyayin x1000

26/11/2023

Take profit da Stop loss sunada muhimmanci a wajen Dan 'trader' na kasuwar sulalla...

26/11/2023

OEx wanda yake akan Satoshi app zuwa April 202...??
za'a faracin moriyarsa

18/08/2023

https://chat.whatsapp.com/HIPvQnhaMjKLhiaxlRipzg

08/08/2023

2/
PROOF OF STAKE:

Proof of Stake (PoS) is a consensus algorithm used in blockchain technology. Unlike the traditional Proof of Work (PoW) algorithm, which relies on computational power, PoS enables participants to create and validate new blocks based on the number of cryptocurrencies they hold and "stake" in the network.

In a PoS-based system, participants (also known as validators) are selected to create new blocks and validate transactions based on the amount of cryptocurrency they have "staked" or locked into the network. The higher the stake, the higher the chances of being chosen as a validator. This approach aims to make the network more energy-efficient since it doesn't require massive computational power like PoW.

One of the main advantages of PoS is its potential to improve scalability and transaction speeds within a blockchain. Additionally, because participants have a financial stake in the network, it is assumed that they will act in the best interest of the system's security and reliability, as malicious behavior could result in losing their staked funds.

Overall, Proof of Stake offers an alternative consensus mechanism in the world of blockchain, providing efficiency, scalability, and security benefits. Keep in mind that it's just one of the many fascinating innovations that emerge from the intersection of computer science and economics.

Digital-SUS

08/08/2023

1/
PROOF OF WORK:
proof of work, an integral concept in the realm of blockchain technology. Let me explain it to you.

In the context of cryptocurrencies like Bitcoin, proof of work (PoW) is a consensus algorithm used to validate and authenticate transactions. It is designed to ensure the security and integrity of the blockchain network.

Here's how it works: Miners, individuals or entities that participate in the network, compete to solve complex mathematical puzzles. The first miner to solve the puzzle and find the correct solution gets the opportunity to add the next block of transactions to the blockchain. The process of solving these puzzles requires computational power and energy, making it resource-intensive.

Once a miner solves the puzzle, the other nodes in the network can then easily verify the solution. This verification process adds additional security to the blockchain as it becomes highly unlikely for a malicious actor to tamper with past transactions. The more computational power a miner has, the higher the probability of them solving the puzzle first and earning the right to add the block.

Proof of work provides several benefits to the blockchain network. It prevents double-spending (using the same cryptocurrency token multiple times), adds a layer of security against potential attacks, and enables decentralized decision-making within the network.

However, it's worth mentioning that proof of work also has its drawbacks. It consumes a significant amount of computational power and energy, leading to concerns about its environmental impact. Additionally, it can create a centralization of mining power, where a few large mining pools dominate the network.

As blockchain technology continues to evolve, alternative consensus algorithms like proof of stake (PoS) are being explored. PoS aims to address the energy consumption and centralization concerns associated with proof of work.

I hope this explanation helps you understand the concept of proof of work.

SULyman SADEEth UMAR
(Digital-SUS)
08/08/2023

29/07/2023

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17/09/2022

https://twitter.com/01_maths/status/1570956424947302403?t=yegEexby7gM-lOlloWTlnw&s=19

“In your opinion,what are you more comfortable about Pi Network? ”