OceanEx Token telegram news 22 August 2022 11:50

22 Aug 2022, 11:50

Same news in other sources

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Ontology
OntologyONT #275
Telegram
22 Aug 2022, 12:04
It's impossible to be unaware of the #EthereumMerge, an important milestone as the network embraces proof-of-stake (PoS), as an alternative to proof-of-work (PoW)๐Ÿง‘โ€๐Ÿ’ป. This consensus switch represents an important change in the #Ethereum blockchain. At #Ontology, we believe that moving to PoS brings the opportunity to improve the efficiency of block ๐ŸงŠproduction, as mining is no longer required โ›. Indeed, the Ontology public blockchain is built as a combination of PoS, VRF, and BFT. But what does that mean? ๐Ÿค” Essentially, it means the #Ontology consensus algorithm is actually VBFT, a combination of PoS, Variable Random Function (VRF), and Byzantine Fault Tolerant (BFT) systems ๐Ÿค“. So what? decentralization, whilst allowing for a higher block generation efficiency ๐Ÿ™Œ You can learn more about the #Ontology consensus mechanism here ๐Ÿ‘‡
It's impossible to be unaware of the #EthereumMerge, an important milestone as the network embraces proof-of-stake (PoS), as an
It's impossible to be unaware of the #EthereumMerge, an important milestone as the network embraces proof-of-stake (PoS), as an alternative to proof-of-work (PoW)๐Ÿง‘โ€๐Ÿ’ป. This consensus switch represents an important change in the #Ethereum blockchain. At #Ontology, we believe that moving to PoS brings the opportunity to improve the efficiency of block ๐ŸงŠproduction, as mining is no longer required โ›. Indeed, the Ontology public blockchain is built as a combination of PoS, VRF, and BFT. But what does that mean? ๐Ÿค” Essentially, it means the #Ontology consensus algorithm is actually VBFT, a combination of PoS, Variable Random Function (VRF), and Byzantine Fault Tolerant (BFT) systems ๐Ÿค“. So what? decentralization, whilst allowing for a higher block generation efficiency ๐Ÿ™Œ You can learn more about the #Ontology consensus mechanism here ๐Ÿ‘‡ https://medium.com/ontologynetwork/ontology-launches-vbft-a-next-generation-consensus-mechanism-becoming-one-of-the-first-vrf-based-91f782308db4