Comparison of LPoS with classic mining. – Oluwatosin Olumide – Medium
- One of the current and innovative mining protocols is LPoS which is the algorithm used by EDC Blockchain as a means of confirmation of transactions by master nodes.
- A classic mining algorithm like Proof-of-Work (PoW) which is used by Blockchains like Bitcoin to mine (BTC), Bitcoin Cash to mine (BCH) can only process about twelve transactions per second (12-TPS) and it takes an average of 10 minutes for the Blockchain to confirm transaction.
- Ethereum uses a specific proof-of-work (PoW) algorithm that is called ‘ethash’, it processes an average of thirty transactions per second(30-TPS) and it takes average of fifteen seconds to confirm transaction on the Blockchain.
- Leased Proof-of-Stake (LPoS) which is used as the mining algorithm on the EDC blockchain can process about one hundred thousand transactions per second(100,000 -TPS) and takes seconds to confirm transaction.
- EDC Blockchain uses LPoS in Blockchain mining, in this Blockchain, any user can acquire EDC token and lease it to the master nodes and thereby becoming a minner.
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