Can you explain the consensus mechanism behind Solana's network and how it ensures security?
iain whitsonDec 28, 2021 · 3 years ago1 answers
Could you provide a detailed explanation of the consensus mechanism used by Solana's network and how it guarantees security?
1 answers
- Dec 28, 2021 · 3 years agoSolana's consensus mechanism is quite interesting! It utilizes a combination of Proof of History (PoH) and Proof of Stake (PoS) to ensure network security. PoH acts as a decentralized clock, providing accurate timestamps for transactions and events on the network. This allows Solana to achieve high throughput and low latency. PoS, on the other hand, involves validators who are selected based on the number of tokens they hold and are willing to 'stake' as collateral. These validators participate in the consensus process by validating and confirming transactions. By combining PoH and PoS, Solana's network is able to maintain security, decentralization, and resistance to attacks.
Related Tags
Hot Questions
- 92
How can I buy Bitcoin with a credit card?
- 87
What are the tax implications of using cryptocurrency?
- 62
What are the best digital currencies to invest in right now?
- 59
Are there any special tax rules for crypto investors?
- 53
What is the future of blockchain technology?
- 26
What are the advantages of using cryptocurrency for online transactions?
- 25
How can I minimize my tax liability when dealing with cryptocurrencies?
- 11
How does cryptocurrency affect my tax return?