Coinbase Earn: What is Pure Proof-of-Stake? (Lesson 2 of 3)

– Second lesson What is "pure proof of equity"? Today, anyone in the world can send and receive Algo Algorand blockchain token In a few seconds Totally just an internet connection There is also a compatible crypto wallet This is because Algorands Unique, consensus protocol "Pure proof of equity" Let's see how "Pure Proof of Stake" works Just like all blockchain transactions on Algorands The same as grouping by block However, it is not a miner with strong computing power Race to propose new blocks Bitcoin and others are just that Algorands nodes are randomly selected Use a verifiable random function And open source cryptography This was co-created by Silvio McCauley This selection process is a bit like winning the lottery Probability of being selected to draw out the Algorands block Depends on how many Algo tokens a node holds Holding tokens for this purpose is called collateral When you stake Algo tokens You gave them a chance to be selected The more you pledge The greater your chance "Pure proof of equity" One Algo token Randomly selected every few seconds If that coin is pledged The owner of the token can propose the next block If it is not mortgaged The agreement scheme randomly selects different tokens second stage Randomly select about 1000 tokens Owners of these tokens Then become a committee to verify the block This process repeats every 4.5 seconds on average Randomly select a new Algo mortgager each time The owner of the token selected in the process Get Algo as a mortgage reward So, how about "pure proof of equity" Help solve the blockchain problem? First of all it is extensible Because the minimum computing power required for the verification block Thousands of transactions can occur per second The second is safety When a mortgager is selected to propose a block Only they know that they have been selected This prevents anyone from becoming the target of an attacker Finally, it is scattered The number of participants randomly changes every few seconds Prevent a small number of Algo mortgagers Control network What about forks? Algorand's design never forks It has been officially confirmed that it will never fork So the transaction will never be reversed This is because When confirmed, only one block can be confirmed at a time The transaction within the block immediately becomes the final transaction

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