Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
Use Of The Proof-Of-Stake Algorithm For Distributed Consensus In Blockchain Protocol For Cryptocurrency, Spencer J. Hosack
Use Of The Proof-Of-Stake Algorithm For Distributed Consensus In Blockchain Protocol For Cryptocurrency, Spencer J. Hosack
Honors Scholar Theses
Recent attention to Bitcoin and other cryptocurrencies has opened investors and the public to the realm of digital currency. Greater exposure around the world has led to a frenzy of entry into the market and a test into the long-term feasibility of Bitcoin being able to remain a functioning peer-to-peer (P2P), decentralized currency. Its main structure is supported by the Proof-of-Work (PoW) protocol in which users can elect to participate in determining transaction approval and ensuring an honest blockchain. This system relies on elected users to expend computational power and energy to solve puzzles to prove the accuracy of the …