Proof of Stake algorithms analysis: practice for developers

Proof of Stake algorithms analysis: practice for developers

The workshop by the Ocolin developer Johann Barbie will be held on the 23rd of September in Kyiv.

It will focus on the Proof of Stake algorithms analysis.

The lecture will be given within the session “Developer” - useful for developers and miners.

Proof of Stake as a method of blocks generating came into use as an alternative to criticized Proof of Work. 

 

Having various implementations, PoS is based on the main concept: a limited resource for an opportunity to vote can be gained not only by energy consumption but also by using the system as such – i.e. digital coins.

Owners don’t spend their coins for voting – the coins are reserved for some period. The computer that keeps operational for mining doesn’t have to do complex calculations.

So, you don’t pay for PoS-mining with energy capacity: the selection of options doesn’t depend on the speed of CPU. The only factors that influence miner’s chance to succeed are the total number of coins and current complexity of the network.

To put it in a nutshell, PoS advantages are:

  • Energy savings;
  • No endless rivalry: total hashrate is limited by total number of coins present in the wallets of users;
  • No need in attacks – they become expensive and meaningless;
  • Replacing of physical work with digital resource.

Within Blockchain & Bitcoin Conference Kiev held on the 23rd of September developers and those interested in mining will have a chance to figure out how PoS works.

Johann Barbie, the developer of Ocolin platform for smart contracts and blockchain services, will hold the workshop and answer participants’ questions.

See the program, choose interesting topics and register. With the ticket “Conference.Pro” you can visit all three halls.  

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