Читать книгу Cryptocurrency All-in-One For Dummies онлайн

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A second popular scaling theory is called PoS (proof of stake). Broadly, PoS is the concept of putting up tokens or cryptocurrency as a bond for processing transactions. If the node is corrupted and does not process the transactions accurately, the node may forfeit their tokens or cryptocurrency.

A third effort to scale blockchain technology utilizes trusted nodes. For example, the Factom network operates with federated nodes and an unlimited number of auditing nodes. These nodes are trusted with ensuring the system. Factom’s elected network is small, with just over 60 nodes. To hedge for security risks, Factom anchors itself into other distributed networks to piggyback on the security of more extensive systems. Factom also partitions its network into smaller, faster, more easily managed parts called chains. Factom has faster transaction speeds and lower transaction costs than PoW blockchains.

Blockchains are powerful tools because they create honest systems that self-correct without the need of a third party to enforce the rules. They accomplish the enforcement of rules through their consensus algorithm.