Ethereum: Is work proof required in bitcoin?
When it comes to cryptocurrency, many people assume that Bitcoin and Ethereum are the same. However, one important difference between the two is underlying technology and the mining process. In this article, we will explore whether the work test is required for bitcoin or if there is a different consensus mechanism at stake.
What is work proof?
The work test is a consensus algorithm used to validate transactions in a blockchain network. It requires miners to resolve complex mathematical equations to be rewarded with newly attended cryptocurrency. The process involves:
- Miners collect and check transactions in the block chain.
- They create an exclusive digital signature for each transaction using complex math calculations.
- Miners compete to resolve a break -in break, which requires significant computational energy and energy.
Why was the work test introduced to Bitcoin?
In 2009, Satoshi Nakamoto, the pseudonym Bitcoin creator, introduced work proof as a way to encourage miners to protect the network. The main argument for the pow is that it is:
- Creates confidence : requiring miners to solve complex mathematics problems, the network becomes safer and more reliable.
- Encourages innovation : The level of difficulty in mining should be a challenge enough to attract miners around the world, which drives innovation and improves the general safety of the network.
Is the work proof necessary for Ethereum?
Although proof of work is an essential component of Bitcoin’s consensus mechanism, it is not necessary for Ethereum. In fact, Ethereum adopted a different consensus algorithm called
Stake Proof (POS)
.
What is stake proof?
In POS, validators are chosen to create new blocks based on the amount of cryptocurrency they have in their digital wallets. This process works as follows:
- Miners collect and check transactions in blockchain.
- They create an exclusive digital signature for each transaction using complex math calculations.
- The miner with the largest number of coins in his wallet is chosen to validate the block.
Is Ethereum POS more efficient in terms of energy?
An advantage of POS over Pow is that it requires significantly less energy to operate. According to estimates, Ethereum uses about 50-60 Terawatt-hours (TWH) of electricity per year compared to the 100-200 Bitcoin TWh. This makes Ethereum an ecological option.
Conclusion
In conclusion, although the work test has been introduced into Bitcoin as a way of creating confidence and encouraging innovation, it is not necessary for Ethereum. Ethereum has adopted proof of participation (POS) as its consensus algorithm, which offers several advantages about POW, including reduced energy consumption. As the cryptocurrency scenario continues to evolve, it will be interesting to see how these different algorithms are implemented and their implications for the general safety and sustainability of the networks.
Sources:
- « Bitcoin mining » by coindesk
- « ETHERUM PARTS PROOF ALGORTHMENT » by Cointelegph
- « Bitcoin and Ethereum energy consumption » by cryptoslate
