Elementary Track 05
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Reaching Consensus Without Trust
How can thousands of strangers agree on the same ledger? Deciding on "truth" without a central server is the consensus problem.
What You'll Learn
- → The principles and differences between Proof of Work (PoW) and Proof of Stake (PoS)
- → Nakamoto consensus and how the Byzantine Generals Problem is solved
- → The concepts and significance of slashing, finality, and forks
⛏️
Proof of Work (PoW)
The first node to solve a hard math puzzle with computing power earns the right to produce a block.
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Proof of Stake (PoS)
Locking up coins (staking) earns a proportional chance to be randomly selected as a validator.
💡 Byzantine Generals Problem: reaching consensus among untrusted communicators. Satoshi solved it with PoW.