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What is Consensus Mechanisms in Blockchain Explained about?

The document discusses different consensus mechanisms used in blockchain networks: - Proof of Work (PoW) uses computational power to solve complex puzzles to validate transactions and mine new coins. It is energy intensive. - Proof of Stake (PoS) selects block validators based on the amount of cryptocurrency they hold and the duration of holding. It is more energy efficient than PoW as it does not require heavy mining. - PoS rewards forgers who validate new blocks with transaction fees instead of newly

Author

aditnuri414

Language

EN