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…What Is VeChain (VET)?Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyUNIVERSITYAltcoins14HR AGO|INTERMEDIATE|6 MIN READWhat Is VeChain (VET)?Explore how VeChain’s dual-token system powers enterprise applications on a smart contract platform to help solve data challenges for businesses.Key Takeaways VeChain is a blockchain ecosystem and creator of VeChainThor, a smart contract platform driving real-world blockchain adoption. VeChain operates a dual-token model: VET serves as the prot…
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…Unlike other blockchains that operate independently, Stacks is uniquely designed to extend Bitcoin’s functionality without altering its core protocol — enabling developers to build Web3 apps that settle on the most secure blockchain in the world. Stacks uses a novel consensus mechanism called Proof of Transfer (PoX), which anchors Stacks blocks to Bitcoin. This design enables smart contracts on Stacks to interact with Bitcoin’s state, bringing programmability and utility to BTC while prese…
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…Proof of Activity (PoA) A succinct definition of Proof of Activity (PoA) Proof of Activity (PoA)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPROOF OF ACTIVITY (POA)Copy linkShare on TwitterShare on FacebookShare on LinkedinProof of Activity (PoA)Not to be confused with Proof of Authority (also PoA), the Proof of Activity (PoA) consensus mechanism is a combination of Proof of Work (PoW) and Proof of Stake (PoS). In short, this hybrid algorithm uses a PoW mining process to gene…
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…Another consensus mechanism that has increased in popularity — as it is more energy efficient — is Proof of Stake (PoS). Instead of mining, PoS relies on network participants validating transactions. Ethereum, the second-largest cryptocurrency, uses this consensus mechanism.Where to buy crypto?There are several ways to buy cryptocurrencies, including:Brokerage services: Crypto brokers allow users to simply buy and sell cryptocurrencies. A popular example is the Crypto.com App, trusted by ove…
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…Another consensus mechanism that has increased in popularity — as it is more energy efficient — is Proof of Stake (PoS). Instead of mining, PoS relies on network participants validating transactions. Ethereum, the second-largest cryptocurrency, uses this consensus mechanism.Where to buy crypto?There are several ways to buy cryptocurrencies, including:Brokerage services: Crypto brokers allow users to simply buy and sell cryptocurrencies. A popular example is the Crypto.com App, trusted by ove…
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…Proof of Capacity A succinct definition of Proof of Capacity Proof of CapacityLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPROOF OF CAPACITYCopy linkShare on TwitterShare on FacebookShare on LinkedinProof of CapacityIn Proof of Capacity (PoC), occasionally referred to as Proof of Space (PoSpace), network participants temporarily provide storage space on their hard drives in a bid to verify transactions and mine new blocks. While this process requires large amounts of data st…
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…Proof of Burn (PoB) A succinct definition of Proof of Burn (PoB) Proof of Burn (PoB)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPROOF OF BURN (POB)Copy linkShare on TwitterShare on FacebookShare on LinkedinProof of Burn (PoB)Proof of Burn (PoB) is a consensus mechanism that uses less energy consumption than Proof of Work (PoW). The concept behind PoB requires miners to ‘burn’ a portion of their digital currencies for the chance to mine a new block.In PoB, miners send tok…
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…Proof of Importance (PoI) A succinct definition of Proof of Importance (PoI) Proof of Importance (PoI)Level UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYPROOF OF IMPORTANCE (POI)Copy linkShare on TwitterShare on FacebookShare on LinkedinProof of Importance (PoI)Introduced by NEM (XEM) in 2015, the Proof of Importance (PoI) consensus mechanism aims to solve two predominant drawbacks of the Proof of Stake (PoS) system: The more a user stakes, the higher their chances of adding a bloc…
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…Distributed ledgers rely on a consensus mechanism to agree on the state of the ledger, and these mechanisms ensure that all nodes in the network reach a common agreement on the validity of transactions.Key TakeawayA distributed ledger in cryptocurrency is a secure, decentralised system for recording and maintaining transactions, providing an immutable history through various consensus mechanisms.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, …
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…Another consensus mechanism that has increased in popularity — as it is more energy efficient — is Proof of Stake (PoS). Instead of mining, PoS relies on network participants validating transactions. Ethereum, the second-largest cryptocurrency, uses this consensus mechanism.Where to buy crypto?There are several ways to buy cryptocurrencies, including:Brokerage services: Crypto brokers allow users to simply buy and sell cryptocurrencies. A popular example is the Crypto.com App, trusted by ove…
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