Founder of Proof-of-Stake presents his new algorithm of consensus

  • Founder of Proof-of-Stake presents his new algorithm of consensus

Kiev: Ethereum will changeits algorithm of consensus very soon. This information appeared in the network.

As you know, the second cryptocurrency by the capitalization operates on the Proof-of-Work algorithm now and it seeks to go to Proof-of-Stake, one of the developers of which is Sunny King.

At the same time, King doesn't involved in the process of transition to a new Ethereum consensus algorithm, he presents his own one - Supernode Proof-of-Stake (SPoS).

TheBitcoin Exchange Guide informs that the new protocol of Sunny King will operates with the help of the "supernodes", which will participate in the process of confirming transactions.

However, for receiving the "supernode" status and rewards, the users will have to purchase more powerful hardware.

King says that the SPoS algorithm will help to millions of blockchains  work in parallel, without reducing the network bandwidth and without subjecting it to hacking risks.

But even King does not know when his SPoS algorithm will be presented to the blockchain community, and some critics say about possible centralization of his novelty.

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