Same news in other sources
122 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)๐งโ๐ป.
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 ๐งproduction, 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? ๐ค
Essentially, it means the #Ontology consensus algorithm is actually VBFT, a combination of PoS, Variable Random Function (VRF), and Byzantine Fault Tolerant (BFT) systems ๐ค.
So what?
decentralization, whilst allowing for a higher block generation efficiency ๐
You can learn more about the #Ontology consensus mechanism here ๐
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)๐งโ๐ป.
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 ๐งproduction, 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? ๐ค
Essentially, it means the #Ontology consensus algorithm is actually VBFT, a combination of PoS, Variable Random Function (VRF), and Byzantine Fault Tolerant (BFT) systems ๐ค.
So what?
decentralization, whilst allowing for a higher block generation efficiency ๐
You can learn more about the #Ontology consensus mechanism here ๐
https://medium.com/ontologynetwork/ontology-launches-vbft-a-next-generation-consensus-mechanism-becoming-one-of-the-first-vrf-based-91f782308db4