SkyCoin — Why is the Blockchain Significant?
Historically, distributed ledgers have been very difficult to maintain and operate, yet due to the innovations of blockchain technology they are quickly gaining widespread usage and utility. Operators, referred to as miners, run complex algorithms to solve and verify demanding mathematical equations (transactions) across a distributed network. Blockchains rely on one of several consensus protocols to verify “blocks” of information. There are several types of consensus protocols, including PBFT, PoW, PoS, and DPoS, among others. Each method of establishing consensus comes with benefits and drawbacks.
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