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Effective Proof-of-Stake
What Is Effective Proof-of-Stake?
Harmony has introduced its own improvised version of the Proof of Stake consensus mechanism, which uses random state sharding to ensure decentralization. The purpose is to prevent the centralization of power by large stakeholders on the network.
What Is the Proof of Stake (PoS) consensus mechanism?
The proof of stake consensus mechanism is a way for new blocks to be produced and prevents the double-counting issue.
The idea is that people who hold cryptocurrencies can stake them in order to validate transactions and get rewards.
Proof-of-stake is an alternative to proof-of-work, which requires miners to solve difficult problems in order to produce new blocks. Unlike proof of work, the difficulty of building a block on a proof of stake network increases with the number of coins staked by the validator.
For example, if someone has 1% of total network coins staking, then they would be expected to get 1% of all validation rewards.
Open Interest
Open interest refers to the total number of outstanding derivative contracts, specifically futures and options, that are held by market participants at the end of each trading session. |
Black-Scholes Model
In simple terms, it is a mathematical formula that gives the fair price of stock options, allowing investors to calculate whether they are overvalued or undervalued. |
Consensus Layer
The consensus layer is the backbone of any blockchain network, performing the vital role of facilitating agreement among nodes on the true state of the blockchain. |
AI Coins
AI coins are designed to streamline AI-related transactions and interactions, all while upholding transparency and security through blockchain technology. |
Leased Proof of Stake (LPoS)
Leased Proof of Stake (LPoS) is a consensus mechanism that allows cryptocurrency holders to lease their coins to nodes on a network. |