The outline of common crypto acronyms also focuses on another popular consensus mechanism in PoS or Proof of Stake. It is a consensus algorithm where users must stake their crypto assets to become validators for verifying transactions on blockchain networks. Upon successful verification of transactions and addition of blocks to the ledgers, validators could receive rewards.
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What is POS?
The outline of common crypto acronyms also focuses on another popular consensus mechanism in PoS or Proof of Stake. It is a consensus algorithm where users must stake their crypto assets to become validators for verifying transactions on blockchain networks. Upon successful verification of transactions and addition of blocks to the ledgers, validators could receive rewards.