Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The advantage of Proof-of-stake over Proof-of-work for a crypto-protocol is that It helps prevent the concentration of cryptocurrency in just a few hands. It reduces

The advantage of Proof-of-stake over Proof-of-work for a crypto-protocol is that

It helps prevent the concentration of cryptocurrency in just a few hands.

It reduces the amount of computer time required to mine the cryptocurrency.

It increases the ability of holders of the token to transfer their tokens at all times.

It increases the use of ASICs in mining the cryptocurrency.

Merge mining is the process by which

Two different blockchains are simultaneously mined using the same hardware.

Blockchains such as Ethereum and Bitcoin communicate.

Miners receive additional Bitcoins for mining coins for other networks.

Ethereum software is updated to allow proof-of-stake.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Campaign Finance Legislation In Congress

Authors: Joseph E. Cantor, R. Sam Garrett

1st Edition

1604566574, 9781604566574

More Books

Students also viewed these Finance questions