Silvio Micali's Proof of Stake

Silvio Micali's Proof of Stake
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Silvio Micali's Proof of Stake
Over the years, there has been an increase in interest in cryptocurrency. One of the common terms in cryptocurrency is proof-of-stake. “Interview: Cryptographer Silvio Micali on Bitcoin, Ethereum, and Proof of Stake” by Amy Castrol has an outstanding explanation of the Proof of stake. The Proof of stake is a consensus mechanism that helps process transactions and create a new blockchain block. The Proof of stake is an outstanding process of verifying transactions compared to other methods. For instance, there are no miners in this process but only coin holders. Moreover, the coin holders have the entire power to validate or create a block according to the number of coins that the person has in the system (Castor, 2017). This process will be Proof of democracy ...