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Consensus is what addresses the "double spending" problem of digital money.
If there were any way the user of a cryptocurrency could spend their coins more than once, it would undermine the entire system.
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Proof-of-stake has emerged as a possible alternative that some researchers think is both more energy efficient and more secure.It's not so hard to prevent double spending in a centralized manner, when there's one entity managing a ledger of all the transactions.
dc dc in india ✌️【365vc.net】✌️₹500 is all it takes to start earning up to 100% monthly. Take control of your financial future!When Alice sends Bob $1, the manager of the central ledger simply takes $1 from Alice and gives $1 to Bob.
PayPal does exactly that.But cryptocurrencies are different.
dc dc in india ✌️【365vc.net】✌️₹500 investment to unlock massive monthly income. Start now and grow your earnings online!The goal is not to have one leader or entity in control of the system, which makes this record-keeping more complicated.Instead of just one leader, thousands of users run the Bitcoin software all over the world.
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Until Bitcoin came along.
Proof-of-work is the innovative algorithm that Bitcoin creator Satoshi Nakamoto came up with, making decentralized money without a leader come to life for the first time.Some argue proof-of-work has problems.
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You often hear critiques that Bitcoin uses as much energy as all of Argentina or some other nation.
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