Can you explain the consensus mechanism behind Solana's network and how it ensures security?
Cates WaddellDec 17, 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 17, 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
What are the tax implications of using cryptocurrency?
- 89
How can I buy Bitcoin with a credit card?
- 85
Are there any special tax rules for crypto investors?
- 74
What are the advantages of using cryptocurrency for online transactions?
- 66
How does cryptocurrency affect my tax return?
- 64
How can I protect my digital assets from hackers?
- 43
How can I minimize my tax liability when dealing with cryptocurrencies?
- 16
What are the best practices for reporting cryptocurrency on my taxes?