Blockstack’s Proof of Transfer Would Have Miners Pay BTC to Mint Stacks
Blockstack announced Proof of Transfer, a new consensus algorithm for blockchains that uses Bitcoins to secure a network directly, instead of electricity. Blockstack unveiled a novel consensus mechanism for piggyback blockchains called Proof of Transfer (PoX) on Feb. 6. Instead of relying on its own proof of work, miners under PoX commit Bitcoin (BTC), which […]
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