Author: Mirelo 2017-04-05 19:12:20
Published on: 2017-04-05T19:12:20+00:00
The Proof-of-Loss algorithm has been updated based on feedback and suggestions that the previous version lacked a more explicit definition of transaction rights and an overview of how the algorithm works. The new version includes an introduction with examples and incorporates the current block height in the proof-of-loss data to make serial chaining easier to enforce. The revised algorithm also corrects transaction prioritization, which now uses fees instead of rights, as well as inactivity fees. The new version is available at https://proof-of-loss.money/. Proof-of-Loss is an alternative consensus algorithm to both proof-of-work and proof-of-stake, addressing their deficiencies including the lack of an organic block size limit, the risks of mining centralization, and the "nothing-at-stake" problem.
Updated on: 2023-06-11T21:24:57.563630+00:00