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Exam CBSA topic 1 question 4 discussion

Actual exam question from Blockchain's CBSA
Question #: 4
Topic #: 1
[All CBSA Questions]

In the Proof of Stake(POS) algorithm the miners are really known as ___________?

  • A. Notary
  • B. Oracle
  • C. Forgers
  • D. Minters
Show Suggested Answer Hide Answer

Suggested Answer: C
Proof of Stake has the same goal as proof of work""to validate transactions and achieve consensus in the chain""and it uses an algorithm but with a different process. With proof of stake, the creator of a new block "is chosen in a deterministic way, depending on its wealth, also defined as a stake." Since in a proof of stake system, there is no block reward, but the miners, known as forgers, get the transaction fees. Proponents of this shift, including Ethereum co-founder Buterin, like proof of stake for the energy and cost savings realized to get to a distributed form of consensus.
Reference:
http://www.hl.co.uk/news/2018/2/16/a-brief-history-of-blockchain-technology-everyone-should-read

Comments

Krisc
1 year, 5 months ago
The term "minters" seems to be used as well: https://hackernoon.com/is-spos-the-pos-killer-hw2l3364
upvoted 2 times
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