EVM, PoS, Fee

Here is an article on the three main blockchain consent algorithms used in cryptocurrency and their differences:

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The three algorithms of main consensus: a guide to crypt

The world of cryptocurrency is built on a complex network of decentralized registers, each of which performs its own version of the blockchain. Among these registers there are several key components that allow safe, transparent and tampering transactions. However, the consent algorithms used in these lead can be a little difficult to understand. In this article, we will immerse ourselves in the three main consent algorithms: proof of-work (power), proof-of-stake (pos) and energy based consent (EBC).

Proof-Of -work (POW) consent algorithm

The first important consent algorithm used in cryptocurrency is the test of work (POW). This algorithm requires miners to solve complex mathematical puzzles complex, using powerful computers and significant quantities of energy. The first miner to solve the puzzle can add a new block of blockchain transactions and transmit it to the net.

Here’s how Pow works:

• The miners compete to resolve a complex mathematical puzzle.

• The first miner to solve the puzzle is declared the winner.

• The winner can add a new block of blockchain transactions and transmit it to the net.

• Other miners verify the solution using their computers, ensuring that the transaction is valid.

• The rewarded miner gets a small amount of cryptocurrency as a reward to solve the puzzle.

Pow Pro:

• Energy efficiency: the power uses significantly lower energy than other consent algorithms.

• Security: Pow makes it practically impossible to falsify or manipulate transactions.

power against:

• Expensive and required a long time: miners need powerful computers to solve complex mathematical puzzles, making it expensive and requires long -term time.

• Centralized mining: many miners compete for a small slice of the reward pool, which can lead to the centralization of the mining power.

POW-OF-Stake (POS) consent algorithm

The second important consent algorithm used in cryptocurrency is the test of stake (POS). This algorithm rewards validators with a part of the block reward or transaction commissions based on their participation in the network. Validators are chosen randomly selecting the validators who have “pointed” their token.

Here’s how Post works:

• Validators deposit a certain amount of token in the network.

• A random selection of validators is chosen to validate transactions.

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POS PRO:

• Energy efficiency: POS significantly uses less energy than the POW, making it more sustainable and cheap.

• Safety: POS makes it much more difficult to falsify or manipulate transactions, but still vulnerable to centralization if not implemented correctly.

POS against:

• Complexity: the selection process can be complex and required by time, leading to potential safety risks.

• Centralization: although less with high intensity of power of POW, POS can still lead to the centralization of validators and the pool of minerals.

Energy -based consent algorithm consent (EBC)

The third large consent algorithm used in cryptocurrency is energy based on energy (EBC). This algorithm rewards validators with a part of the block reward or transaction commissions based on their energy consumption.

Here’s how the EBC works:

• Validators deposit a certain amount of token in the network.

• A random selection of validators is chosen to validate transactions, using their energy consumption as an additional factor in their validation decision.

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