Transition To PoS 2.0 Complete - View Changes

BlackCoin’s Proof-of-Stake Protocol v2

The old Proof of Stake protocol has several potential security issues: coin age can be abused by malicious nodes to gain significant network weight to perform a successful double spend. Additionally, due to coin age, honest nodes can abuse the system by staking only on a periodical basis. This does not secure the network. Lastly: in the current system all components of a stake of proof are predictable enough to allow pre-computation of future proof-of-stakes.

Currently in the crypto currency community it is common understanding that Proof-of-Stake has yet to prove its security, economic value, and overall energy efficiency over time. BlackCoin was originally created as an experiment to prove that the concept of Proof-Of-Stake is valid; insisting it has real world applications in the future of crypto currencies. For the past 120 days BlackCoin has proven to be a secure system for the 15-20 million dollars market cap that the system currently proudly maintains. As we expect the BlackCoin ecosystem to grow in the future, we want to ensure that the Proof-of-Stake system is secure as it can be.

If you want to read the whole Whitepaper click here.

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Ralphvd

Ralphvd

My name is Ralph. I am founder of Dailyblackcoin.com. The reason why i started with this website is because i wanted to create a news portal where people come every day such as Wallstreet Journal.
Ralphvd

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One comment

  1. DADZ

    August 4, 2014 at 18:20

    GREAT !