Proof Of Stake (PoS) mechanism and Salmonchain using Hybrid Proof of Stake (HPoS) with EVM compatibility
Blockchain mechanism, there are two main consensus mechanisms. The first, Proof of Work, is used by Bitcoin and Ethereum (although Ethereum is slated to change to a Proof of Stake algorithm in the near future). Proof of Work validates transactions by solving complex computational problems, with the first node to solve the problem receiving a reward for doing so.
As is well known, this is with the PoW concept where the miner with the largest amount of computing power is the winner.
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The second, Proof of Stake (PoS) is a concept in crypto assets that explains that users can mine or validate crypto asset transactions. According to the number of coins held. Proof of Stake (PoS) is considered by many as an alternative to the Proof of Work system.
Researcher Sunny King introduced the concept of Proof of Stake (PoS) in 2012. Under PoS, validators stake tokens to secure the network.
Proof-of-Stake, as opposed to Proof-of-Work (PoW), is a process in which network validators as token holders are incentivized to validate blocks using a semi-random process, based on the number of tokens they hold.
Proof of Stake Type
There are several variants of PoS (Proof of Stake),
- Liquid Proof of Stake (LPoS)
- Delegated Proof of Stake (DPoS)
- Bonded Proof of Stake (BPoS)
- Nominated Proof of Stake (NPoS)
- Hybrid Proof of Stake (HPoS) (HPoS)
salmonchain HPoS consensus
HPoS is a combination of Proof of Work and Proof of Stake, where the two mechanisms work together to ensure network security. Under this rule, the miner generates a new block and the validator selects its
Hybrid PoS/PoW is often referred to as a mix between Proof-of-Work and Proof-of-Stake. It is a way to secure the network using both of these methods: the PoS works alongside the PoW system to further secure the blockchain. Usually, in such implementation, miners produce new blocks via PoW, and PoS validators then vote on the validity of these.
Salmonchain using HPoS provides a superior deterrent against majority attacks by increasing hashing power by voting 21 stakeholder validators.
