4 ms·
Definitely agree. Also, one minor point: PoW/PoS are technically Sybil control mechanisms, not consensus mechanisms. PoW/PoS rate-limit block producers, but act
by remolacha 5y ago
Definitely agree.
Also, one minor point: PoW/PoS are technically Sybil control mechanisms, not consensus mechanisms. PoW/PoS rate-limit block producers, but actual consensus is achieved by something like Practical Byzantine Fault Tolerance. There are only a few blockchains that actually use a different mechanism for consensus, such as Avalanche.
- baby 5y agoThey are also a consensus mechanism: it’s called leader election. You need a system for participants to agree on who will be the next person that get to choose the next block of transaction.