Ascension of a nearby protocol (near): Breakthrough in cryptocurrency technology
In a rapidly developing world of cryptocurrencies, one project has recently gained a significant listening. Near the protocol (close), a decentralized application platform in the Cosmos (Atom) network, is a revolution of the consensus mechanism. In this article, we dive in the poor quality elements of the Consensususussus mechanism near the protocol and examine its postal image.
What is cryptocurrency?
Cryptocurrency, also painting as a diigital or virtual currency, is a diigital medium of exchange that uses cryptography to ensure transactions. The first crypto -based blockchain -based was Bitcoin (BTC), which was signed in 2009 by an orroup in Psudonym Satoshi. Since then, there have been numerous cryptocurrencies, each of which was without unique characteristics and consumers.
Current status of the cryptocurrency consensus *
In traditional blockchain networks of bitcoins, consensus mechanisms are used to verify transactions and ensure integrity. The most consensual mechanism is evidence of work (Pow), it will require miners in the mathematical problems of Siles and to secure you. the network. However, there were a few disadvantages including:
۱.
- Centralization : POW relied on one entity (miners), which can legend to centralize, which controls Smallo Indils of network computing sources.
The need for mechanisms of alternative consensus *
To alleviate emits and create amoro-office, decentralized and ecosystem cryptocurrencies in Securere, developers were an alternative to Axplors. mechanisms. Unque Consensus near the protocol is designed to dome key challenges associated with Pow -based traditional systems.
near the protocol (close) unique consensual mechanism
In its core, a user near the protocol, it is proof of the consensus mechanism compared to the deposit (POS), it is a distinctly traditional Pow and Signs. This is how it works:
۱.
- Vinging : When a new transaction is designed, this is the share of the user to verify its inclusion in the following. This is a decentralized voting system where motivation is contributed and Versactions.
- Inserting of rewards : Users who participate in these remuneration are proportional to the amount of contributory share.
- Security
: Sew Securre because it requires most users (50%) for any proposed or transaction.
Advantages and benefits *
Consensation mechanism near the protocol consensus from traditional blockchain:
- Energy efficiency : with a much lower energy consumption requirement compared to Pow.
- Dentralization : The more decentralized voting process ensures that no symbol entity in the network.
- Security : Outdated remuneration provide another layer of security because the giant is eligible interrest in informing.
Conclusion *
The close protocol rose (close) is a significant development in the challenge associated with traditional blockchains.