कृपया धन्यवाद, मैं यह वाक्यांश हिंदी में अनुवादित कर दूंगा। "सहमति एल्गोरिदम क्या है?"
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The consensus algorithm is a certain procedure by which all members of the blockchain network reach a common agreement on the current state of the distributed ledger. This is how consensus algorithms achieve reliability on a blockchain network and establish trust between unknown peers in a distributed computing environment. Practically, the consensus protocol ensures that each new block added to the blockchain is the only version of the truth agreed upon by all nodes of the blockchain network. The consensus protocol has several specific goals, such as reaching agreement, cooperation, equal rights for each node, and mandatory participation of each node in the consensus process. The consensus algorithm aims to find a common agreement to verify blocks that are beneficial to the entire network. Users who want to add blocks to the network are required to provide a certain rate that discourages fraudulent activity. There are many types of consensus algorithms, the most popular being Proof of Work, Proof of Stake, Proof of Burn.
The consensus algorithm is a certain procedure by which all members of the blockchain network reach a common agreement on the current state of the distributed ledger. This is how consensus algorithms achieve reliability on a blockchain network and establish trust between unknown peers in a distributed computing environment. Practically, the consensus protocol ensures that each new block added to the blockchain is the only version of the truth agreed upon by all nodes of the blockchain network. The consensus protocol has several specific goals, such as reaching agreement, cooperation, equal rights for each node, and mandatory participation of each node in the consensus process. The consensus algorithm aims to find a common agreement to verify blocks that are beneficial to the entire network. Users who want to add blocks to the network are required to provide a certain rate that discourages fraudulent activity. There are many types of consensus algorithms, the most popular being Proof of Work, Proof of Stake, Proof of Burn.
Machine translated
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A correspondence algorithm is a mechanism that allows users or machines to coordinate in a distributed system. He must ensure that all agents in the system can agree on a single source of truth, even if some of them fail. In other words, the system must be fault-tolerant
In a centralized configuration, a single unit has authority over the system. In most cases, they are free to make changes at their discretion - there is no complicated management system to reach consensus among many administrators.
In cryptocurrencies, user balances are saved in a database - blockchain. It is essential that each node maintains an identical copy of the database. Otherwise, contradictory information will quickly emerge, undermining the whole purpose of the cryptocurrency network.
Public key cryptography ensures that users cannot spend each other's coins. But there still needs to be a single source of truth that network participants rely on to determine if funds have already been spent.
Satoshi Nakamoto, the creator of Bitcoin, proposed a Proof of Work system to coordinate participants.
Proof of work requires users who want to add blocks (we call them validators) to submit a rate. At stake is some value that the validator must present, which discourages them from acting fraudulently. If they cheat, they will lose their stake. Examples include computing power, cryptocurrency, and even reputation.
A correspondence algorithm is a mechanism that allows users or machines to coordinate in a distributed system. He must ensure that all agents in the system can agree on a single source of truth, even if some of them fail. In other words, the system must be fault-tolerant
In a centralized configuration, a single unit has authority over the system. In most cases, they are free to make changes at their discretion - there is no complicated management system to reach consensus among many administrators.
In cryptocurrencies, user balances are saved in a database - blockchain. It is essential that each node maintains an identical copy of the database. Otherwise, contradictory information will quickly emerge, undermining the whole purpose of the cryptocurrency network.
Public key cryptography ensures that users cannot spend each other's coins. But there still needs to be a single source of truth that network participants rely on to determine if funds have already been spent.
Satoshi Nakamoto, the creator of Bitcoin, proposed a Proof of Work system to coordinate participants.
Proof of work requires users who want to add blocks (we call them validators) to submit a rate. At stake is some value that the validator must present, which discourages them from acting fraudulently. If they cheat, they will lose their stake. Examples include computing power, cryptocurrency, and even reputation.
Machine translated
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In 2015, Vitalik Buterin, the creator of Ethereum, planned the transition from the first blockchain algorithm Proof of Work (PoW) to Proof of Stake (PoS). PoW was considered not ergonomic due to high energy consumption or the involvement of excavators when acquiring new blocks.
Proof of Stake is one of the consensus algorithms that is gaining more and more popularity in the cryptocurrency market. Algorithms in the blockchain are used, as everywhere, for clearly defined activities to perform certain types of tasks in a way that leads to the solution of the task, in our case to the compliance of transactions in the blockchain network.
According to the PoS List ranking, 140 cryptocurrencies are currently working with the new algorithm. However, it is the value of 6.22% of the total number of cryptocurrencies (about 2250) on the global market. The total capitalization of PoS-based cryptocurrencies was USD 23 billion or 8% of the total market capitalization of the cryptocurrency market (as of June 20, 2019). Despite relatively small numbers, PoS-based cryptocurrencies continue to grow in price and volume.
Consensus algorithms in blockchain technology verify the creation of a new block and decide on transaction approval. They are the basic element of the blockchain and are responsible for maintaining their integrity and the security of the entire chain. They ensure compliance with the protocol and ensure that all transactions are carried out correctly (e.g. that cryptocurrencies are not double-spent). In addition to PoS and PoW, the consensus algorithm includes Proof of Capacity (PoC), Proof of Space (PoS), Proof of Importance (PoI), Proof of Burn (PoB), Proof of Storage (PoS).
PoS has its advantages over PoW. First of all, the blockchain based on the PoS algorithm is much more efficient in terms of resource consumption, like electricity. Computers connected to the blockchain network in a node, act as excavators in PoW. They find new blocks and confirm transactions.
The change from PoW to PoS involves staking, i.e. the way of creating new blocks using the PoS algorithm, where the creation is based on time and funds, and not on digging, as in PoW. The user must deposit a significant amount of cryptocurrency in his wallet and keep it connected to the network non-stop.
The algorithm chooses the next block itself, based on the weight of the cryptocurrencies involved in the entire network. In fact, one user is making a "stake" with their cryptocurrencies by contributing them to the blockchain. Cryptocurrencies held as collateral cannot be returned to the user when the algorithm searches for new blocks, meaning the user is benefiting the entire ecosystem as their own money is at stake. The higher the user's rate, and the longer their cryptocurrencies stay in the system, the greater the chances of profit.
Of course, nodes don't work for free. Everyone makes a profit from every block generated and pledged cryptocurrencies in the wallet, guaranteeing a certain return on investment. It is always positive, but depends on several factors.
There is no clear answer to the question of how much you can stake on the blockchain, i.e. acquire cryptocurrencies using the PoS protocol. Each network may use a different method of calculating rewards. Some do it block-by-block, taking into account how much and how long the validator stakes, and others how much is staked in a given cryptocurrency network in total to determine the amount of the prize.
Nodes not only confirm new blocks and transactions, but actively participate in the development of the entire cryptocurrency ecosystem, which is crucial for new cryptocurrency projects.
To sum up, PoS is a simpler system, all you need is a computer and, of course, initial cryptocurrencies. Simply put, staking is locking in a cryptocurrency wallet, like on a bank deposit, to receive additional cryptocurrencies. The longer we keep them in time, the more cryptocurrencies we will get, because the more blocks will be created in the chain, and the greater the weight of the wallet connected to the blockchain, the greater the rewards in the form of a stake, i.e. units of a given cryptocurrency.
PoS, although it is a newer and more advanced algorithm, has the disadvantages of the old PoW algorithm, because it still consumes too much energy. Despite this, it is used in such an innovative cryptocurrency as EOS, which boasts millions of transactions per second and no transaction fees.
With the growing number of cryptocurrencies based on the PoS algorithm, many companies have started to offer lazy staking. In this model, the investor puts his cryptocurrencies under the management of a company that processes confirmed transactions and other activities performed by blockchain nodes. In return, the investor receives a profit from the accrued interest, which can reach up to 150% per year.
In March 2021, Coinbase launched a service for institutional investors and offers the opportunity to invest in PoS-based cryptocurrency called Tezos with a return of up to 6.6% per year, based on the inflation rate calculation. Binance Staking also promotes staking for its clients, paid depending on the total amount of cryptocurrencies obtained.
Currently, more than $7 billion is stored in many PoS-based cryptocurrencies.
In conclusion, it is worth adding that there are many advantages enumerated by users of the PoS protocol. It plays a role similar to that of a shareholder, giving users the opportunity to vote on key system issues. In addition, it stabilizes the system, because it plays a long-term role, due to the lack of possibility of quick and speculative profit.
In general, the system is built in such a way that its participants are primarily interested in the development of the project and its application in the real world, thus dynamizing the demand and price for the new cryptocurrency.
The PoS-based ecosystem is just starting to gain momentum.
thanks for the like and I hope I answered you exhaustively! cordiality
In 2015, Vitalik Buterin, the creator of Ethereum, planned the transition from the first blockchain algorithm Proof of Work (PoW) to Proof of Stake (PoS). PoW was considered not ergonomic due to high energy consumption or the involvement of excavators when acquiring new blocks.
Proof of Stake is one of the consensus algorithms that is gaining more and more popularity in the cryptocurrency market. Algorithms in the blockchain are used, as everywhere, for clearly defined activities to perform certain types of tasks in a way that leads to the solution of the task, in our case to the compliance of transactions in the blockchain network.
According to the PoS List ranking, 140 cryptocurrencies are currently working with the new algorithm. However, it is the value of 6.22% of the total number of cryptocurrencies (about 2250) on the global market. The total capitalization of PoS-based cryptocurrencies was USD 23 billion or 8% of the total market capitalization of the cryptocurrency market (as of June 20, 2019). Despite relatively small numbers, PoS-based cryptocurrencies continue to grow in price and volume.
Consensus algorithms in blockchain technology verify the creation of a new block and decide on transaction approval. They are the basic element of the blockchain and are responsible for maintaining their integrity and the security of the entire chain. They ensure compliance with the protocol and ensure that all transactions are carried out correctly (e.g. that cryptocurrencies are not double-spent). In addition to PoS and PoW, the consensus algorithm includes Proof of Capacity (PoC), Proof of Space (PoS), Proof of Importance (PoI), Proof of Burn (PoB), Proof of Storage (PoS).
PoS has its advantages over PoW. First of all, the blockchain based on the PoS algorithm is much more efficient in terms of resource consumption, like electricity. Computers connected to the blockchain network in a node, act as excavators in PoW. They find new blocks and confirm transactions.
The change from PoW to PoS involves staking, i.e. the way of creating new blocks using the PoS algorithm, where the creation is based on time and funds, and not on digging, as in PoW. The user must deposit a significant amount of cryptocurrency in his wallet and keep it connected to the network non-stop.
The algorithm chooses the next block itself, based on the weight of the cryptocurrencies involved in the entire network. In fact, one user is making a "stake" with their cryptocurrencies by contributing them to the blockchain. Cryptocurrencies held as collateral cannot be returned to the user when the algorithm searches for new blocks, meaning the user is benefiting the entire ecosystem as their own money is at stake. The higher the user's rate, and the longer their cryptocurrencies stay in the system, the greater the chances of profit.
Of course, nodes don't work for free. Everyone makes a profit from every block generated and pledged cryptocurrencies in the wallet, guaranteeing a certain return on investment. It is always positive, but depends on several factors.
There is no clear answer to the question of how much you can stake on the blockchain, i.e. acquire cryptocurrencies using the PoS protocol. Each network may use a different method of calculating rewards. Some do it block-by-block, taking into account how much and how long the validator stakes, and others how much is staked in a given cryptocurrency network in total to determine the amount of the prize.
Nodes not only confirm new blocks and transactions, but actively participate in the development of the entire cryptocurrency ecosystem, which is crucial for new cryptocurrency projects.
To sum up, PoS is a simpler system, all you need is a computer and, of course, initial cryptocurrencies. Simply put, staking is locking in a cryptocurrency wallet, like on a bank deposit, to receive additional cryptocurrencies. The longer we keep them in time, the more cryptocurrencies we will get, because the more blocks will be created in the chain, and the greater the weight of the wallet connected to the blockchain, the greater the rewards in the form of a stake, i.e. units of a given cryptocurrency.
PoS, although it is a newer and more advanced algorithm, has the disadvantages of the old PoW algorithm, because it still consumes too much energy. Despite this, it is used in such an innovative cryptocurrency as EOS, which boasts millions of transactions per second and no transaction fees.
With the growing number of cryptocurrencies based on the PoS algorithm, many companies have started to offer lazy staking. In this model, the investor puts his cryptocurrencies under the management of a company that processes confirmed transactions and other activities performed by blockchain nodes. In return, the investor receives a profit from the accrued interest, which can reach up to 150% per year.
In March 2021, Coinbase launched a service for institutional investors and offers the opportunity to invest in PoS-based cryptocurrency called Tezos with a return of up to 6.6% per year, based on the inflation rate calculation. Binance Staking also promotes staking for its clients, paid depending on the total amount of cryptocurrencies obtained.
Currently, more than $7 billion is stored in many PoS-based cryptocurrencies.
In conclusion, it is worth adding that there are many advantages enumerated by users of the PoS protocol. It plays a role similar to that of a shareholder, giving users the opportunity to vote on key system issues. In addition, it stabilizes the system, because it plays a long-term role, due to the lack of possibility of quick and speculative profit.
In general, the system is built in such a way that its participants are primarily interested in the development of the project and its application in the real world, thus dynamizing the demand and price for the new cryptocurrency.
The PoS-based ecosystem is just starting to gain momentum.
thanks for the like and I hope I answered you exhaustively! cordiality
Machine translated
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In the simplest terms, it is a scheme and rules of conduct, according to which people (computers) accepting transactions concluded on the blockchain agree that a given transaction has been carried out correctly (they confirm it) and should be added to the blockchain. If someone breaks out of the given scheme of confirming transactions, they (these transactions) could be overwritten, they could cheat, steal funds, etc. However, since most confirmers follow the established rules, such people (computers) are rejected from the network. So the rules need to be set up so that it pays off for most people to follow them, and this is where all game theory and the wisdom of well-designed blockchain systems comes in.
In the simplest terms, it is a scheme and rules of conduct, according to which people (computers) accepting transactions concluded on the blockchain agree that a given transaction has been carried out correctly (they confirm it) and should be added to the blockchain. If someone breaks out of the given scheme of confirming transactions, they (these transactions) could be overwritten, they could cheat, steal funds, etc. However, since most confirmers follow the established rules, such people (computers) are rejected from the network. So the rules need to be set up so that it pays off for most people to follow them, and this is where all game theory and the wisdom of well-designed blockchain systems comes in.
Machine translated

A consensus algorithm is a mechanism that allows users or a machine to coordinate distributed settings. The algorithm is designed to make sure that each user received the same database. If not, the purpose of the cryptocurrency network may be undermined.
The main features of the consensus algorithm are:
requiring users who want to add new blocks to provide the so-called stake - this is some value that the validator puts out. This is to discourage him from acting dishonestly;
the opportunity to receive a reward - in the form of the native cryptocurrency of the protocol, which comes from fees paid by other users or freshly generated cryptocurrency units, sometimes also from both;
transparency - every user must be able to detect when someone is cheating. Producing new blocks should be expensive but cheap to verify.
Types of consensus algorithms:
- Proof of Work
It is a form of cryptographic validation where one party proves to the other that some computational effort has been used for some purpose. The auditor (verifier) can then confirm these costs with minimal effort on their part.
- Proof of Stake
Proof of Stake (PoS) is a type of consensus algorithm used in blockchain and cryptocurrency implementations. In the Proof of Stake algorithm, the next block creator is selected based on various randomly selected attributes.
- Leased Proof of Stake
This algorithm was fully launched in May 2017. Thanks to this, users of the Waves lite client, i.e. those who do not run the entire node, can lease their WAVES tokens to other nodes.
Once a user has rented their WAVES tokens, they are locked to their account and cannot be traded or transferred from that point on. However, these tokens remain under the full control of the account holder and the lease can be terminated at any time.
Borrowed WAVES chips are used to raise the so-called. A deposit for miners that increases their chances of finding the next block in the network. Leasing systems enhance cybersecurity in at least two ways. First, the more WAVES that are used to secure the network, the better, as it will be harder for an attacker to accumulate the tokens needed to launch a 51% attack.
Secondly, WAVES can be borrowed from the so-called a cold wallet (i.e. an offline wallet without internet access) so that the node to which these funds are redirected does not physically store them. This significantly reduces the risk of WAVES tokens being stolen from miners, as the rented funds are not transferred to them.
- Proof of Authority
PoA uses a so-called identity, which means that block validators do not bet on their cryptocurrency, but on their own reputation. Proof of Authority relies on a limited number of block validators to achieve a high degree of scalability. Blocks and PoA transactions are reviewed by people called pre-approved participants who act as system moderators.
- Proof of Burn
Proof of Burn is similar to the Proof of Work algorithm, but with reduced power consumption. Cryptocurrencies are intentionally burned as a way to "invest" resources in the blockchain and ensure that miners don't have to invest in physical resources.
In the PoB network, miners invest in virtual mining platforms by intentionally burning units of their cryptocurrency (burning coins), miners demonstrate their commitment to the network, thus earning the right to "mine" and confirm transactions.
Since cryptocurrency burning represents virtual mining power, the more cryptocurrency units a miner burns for the benefit of the system, the greater the so-called mining power. mining capacity, and thus a greater chance of being selected as the next block validator.
- Delegated Proof of Stake
Authorization-based system. Delegates are responsible for reaching consensus when creating and approving new blocks in the network. The voting power of each stakeholder who decides on the future of the network is proportional to the number of units of a given cryptocurrency it holds.
The DPoS algorithm is based on a voting system that is directly dependent on delegates' reputation. If the selected node is inactive or misbehaving, it will be immediately removed and another delegate will be selected in its place.
- Hybrid PoW/PoS consensus
The primary goal of hybrid systems that combine the advantages of proof-of-work and proof-of-stake is to take advantage of the strengths of each approach and use them to offset the weaknesses of the approaches. Decred is one of the few cryptocurrencies that uses both PoW and PoS algorithms to create a hybrid or multi-factor consensus mechanism.
A consensus algorithm is a mechanism that allows users or a machine to coordinate distributed settings. The algorithm is designed to make sure that each user received the same database. If not, the purpose of the cryptocurrency network may be undermined.
The main features of the consensus algorithm are:
requiring users who want to add new blocks to provide the so-called stake - this is some value that the validator puts out. This is to discourage him from acting dishonestly;
the opportunity to receive a reward - in the form of the native cryptocurrency of the protocol, which comes from fees paid by other users or freshly generated cryptocurrency units, sometimes also from both;
transparency - every user must be able to detect when someone is cheating. Producing new blocks should be expensive but cheap to verify.
Types of consensus algorithms:
- Proof of Work
It is a form of cryptographic validation where one party proves to the other that some computational effort has been used for some purpose. The auditor (verifier) can then confirm these costs with minimal effort on their part.
- Proof of Stake
Proof of Stake (PoS) is a type of consensus algorithm used in blockchain and cryptocurrency implementations. In the Proof of Stake algorithm, the next block creator is selected based on various randomly selected attributes.
- Leased Proof of Stake
This algorithm was fully launched in May 2017. Thanks to this, users of the Waves lite client, i.e. those who do not run the entire node, can lease their WAVES tokens to other nodes.
Once a user has rented their WAVES tokens, they are locked to their account and cannot be traded or transferred from that point on. However, these tokens remain under the full control of the account holder and the lease can be terminated at any time.
Borrowed WAVES chips are used to raise the so-called. A deposit for miners that increases their chances of finding the next block in the network. Leasing systems enhance cybersecurity in at least two ways. First, the more WAVES that are used to secure the network, the better, as it will be harder for an attacker to accumulate the tokens needed to launch a 51% attack.
Secondly, WAVES can be borrowed from the so-called a cold wallet (i.e. an offline wallet without internet access) so that the node to which these funds are redirected does not physically store them. This significantly reduces the risk of WAVES tokens being stolen from miners, as the rented funds are not transferred to them.
- Proof of Authority
PoA uses a so-called identity, which means that block validators do not bet on their cryptocurrency, but on their own reputation. Proof of Authority relies on a limited number of block validators to achieve a high degree of scalability. Blocks and PoA transactions are reviewed by people called pre-approved participants who act as system moderators.
- Proof of Burn
Proof of Burn is similar to the Proof of Work algorithm, but with reduced power consumption. Cryptocurrencies are intentionally burned as a way to "invest" resources in the blockchain and ensure that miners don't have to invest in physical resources.
In the PoB network, miners invest in virtual mining platforms by intentionally burning units of their cryptocurrency (burning coins), miners demonstrate their commitment to the network, thus earning the right to "mine" and confirm transactions.
Since cryptocurrency burning represents virtual mining power, the more cryptocurrency units a miner burns for the benefit of the system, the greater the so-called mining power. mining capacity, and thus a greater chance of being selected as the next block validator.
- Delegated Proof of Stake
Authorization-based system. Delegates are responsible for reaching consensus when creating and approving new blocks in the network. The voting power of each stakeholder who decides on the future of the network is proportional to the number of units of a given cryptocurrency it holds.
The DPoS algorithm is based on a voting system that is directly dependent on delegates' reputation. If the selected node is inactive or misbehaving, it will be immediately removed and another delegate will be selected in its place.
- Hybrid PoW/PoS consensus
The primary goal of hybrid systems that combine the advantages of proof-of-work and proof-of-stake is to take advantage of the strengths of each approach and use them to offset the weaknesses of the approaches. Decred is one of the few cryptocurrencies that uses both PoW and PoS algorithms to create a hybrid or multi-factor consensus mechanism.
Machine translated

Machine translated