Transactions are grouped into blocks and the system works to make the block's hash contain a certain number of leading zero bits. Once a proof-of-work is completed, a block cannot be changed unless the work is redone. As more blocks are added to the chain, changing the block would require redoing the work for all the following blocks too. A result of this system is that the network accepts the longest chain as the legitimate chain.

Proof-of-Work

This consensus mechanism depends on selecting validators by their proportion of holdings. Cardano is an example of a blockchain that uses Proof of Stake.

Proof of Stake Protocol

University of Minnesota - Twin Cities

Consensus is what ensures that the shared blockchain ledgers are exact copies of each other. Consensus is defined as 50% + 1 of the mining community which is comprised of enough members that it is extremely difficult to create fraudulent transactions.

Consensus

Saleh, Fahad. (2021). Blockchain Without Waste: Proof-of-Stake. Wake Forest University. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3183935


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