Mining is closely associated with graphics cards and ASICs, but a central processor is forgotten sometimes.
CPU mining is a process of performing calculations using a CPU to get a profit.
Processors are better than GPUs in switching tasks. There are specific algorithms and instructions designed for CPU but as is comes for long-time calculations, it cannot stand any comparison to GPU or ASICs. That’s why Central Processor Units mining originally implemented to the BTC code was removed later.
Some blockchain developers try to make mining accessible for anyone without significant investments. …
Consensus algorithm is a process to find an agreement on some data value involved in an operation.
A blockchain network consists of nodes that exchange data. They’re not controlled by anything so these exchanges have to be real in order to maintain a network as it was designed.
The main concern is that a node can send false data and if there are no nodes to verify it then a whole chain is under the risk of attacks. That’s why consensus algorithms are used.
For example, 51% attack. 51% attack means 51% of a chain is centralized and those who have access to nodes can change data. Therefore decentralization is so important.
There are a lot of algorithms which offer different ways to fix vulnerabilities but all of them have their own pros and cons.
There is a number of blockchain consensuses. However, one discussion receives a lot of public attention: it is the one about two mechanisms that are working shoulder-to-shoulder, but standing face-to-face. Today we want to place Proof of Work vs. Proof of Stake in the spotlight and to reflect on their pros and cons.
Both the mechanisms validate the transactions in the network: in PoW — by the computers and in PoS — by the owners of the currency.
Surely, much of the discussion wouldn’t be raised around the difference between these two for only one reason. …