£ 0.2530
3 min ago
(-0.91%)
A peer-to-peer crypto-currency design derived from Satoshi Nakamoto's Bitcoin. Proof-of-Stake replaces Proof-of-Work to provide most of the network security. Under this hybrid design proof-of-work mainly provides initial minting and is largely non-essential in the long run. The security level of the network is not highly energy-dependent thus providing an energy-efficient and more cost-competitive peer-to-peer crypto-currency. Proof-of-Stake is based on coin age and generated by each node via a hashing scheme bearing similarity to Bitcoins but over limited search space. Blockchain history and transaction settlement are further protected by a centrally broadcasted checkpoint mechanism.
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