Cryptocurrency Q&A
What consensus mechanism does Polkadot use?
What consensus mechanism does Polkadot use?
SamsungShiningStar
Mon Jan 20 2025
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5
answers
945
Polkadot uses the nominated proof-of-stake (NPoS) consensus algorithm, which is a novel system designed to enhance the network's security, openness, and decentralization. This consensus mechanism allows for more efficient and secure blockchain operations compared to traditional methods.
5 answers
SumoHonor
Wed Jan 22 2025
Polkadot employs a proof-of-stake consensus mechanism for network security.
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Riccardo
Wed Jan 22 2025
This mechanism is different from the proof-of-work system utilized by Bitcoin.
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BitcoinBaronGuard
Wed Jan 22 2025
By using proof-of-stake, Polkadot aims to enhance efficiency and sustainability.
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Martina
Wed Jan 22 2025
Stakeholders validate transactions and contribute to the network's robustness.
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InfinityRider
Tue Jan 21 2025
The process also involves the creation and distribution of new DOT tokens.
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