Polkadot Hello World Article Series

Polkadot Hello World #5: Minting, Bonding, Staking, Slashing

Click the link above the Title in order to get a list of articles already published on Medium.

This week’s article is about “minting”, “bonding”, “staking” and “slashing” which are core functions of a Proof of Stake (POS) blockchain consensus engine.

It’s a follow-up article of “Polkadot Hello World #2: Get Nominated As An Official Validator”, which is an introduction to the topic and explains the Byzantine Fault Tolerance (BFT) and it’s relationship to PoS. So you may check out this one as well.

When I was thinking about the right teaser image for this article - by playing around with the keyword “slashing” - I got remembered of the brilliant hit by Ian Dury & The Blockheads “Hit Me With Your Rythm Stick” from 1979. So instead of a static image, I start this article with this old post-punk music video, honouring the validators out in the PoS network universes, trying not to get hit by the rhythm stick of the consensus engines …

… so back to work then.

When I started my Polkadot blockchain researching work some weeks ago I wasn’t aware that the crypto economy is…