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updated with more info (#33619)

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Nadeem Bhati
2018-12-09 01:53:20 +05:30
committed by Christopher McCormack
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guide/english/blockchain/cryptocurrency/index.md
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@ -122,6 +122,13 @@ In this more well-known protocol, miners compete with each other to solve a math
In proof of stake, the network is secured via network participants staking or wagering their coins. If network participants misbehave, they will lose the coins that they staked. As a reward for properly securing the network, stakers will periodically receive a small amount of coins relative to how many coins they put up for staking. Instead of competing to solve a difficult math problem to validate blocks, block validators under proof of stake are randomly chosen. Proof of stake is typically significantly less energy-intensive than proof of work. In proof of stake, the network is secured via network participants staking or wagering their coins. If network participants misbehave, they will lose the coins that they staked. As a reward for properly securing the network, stakers will periodically receive a small amount of coins relative to how many coins they put up for staking. Instead of competing to solve a difficult math problem to validate blocks, block validators under proof of stake are randomly chosen. Proof of stake is typically significantly less energy-intensive than proof of work.
## Permissionless Blockchains
Rather than imposing barriers to entry, permissionless blockchains are public and open for anyone to join. Since such networks can reasonably expect all kind of agents - including malicious actors - the key lies in incentivizing good behavior in a critical majority of the network, such that:
- The malicious actors cannot take over the network through an escalated attack.
- The malicious actors cannot collude to undertake an organized majority attack on the network.
- The payoffs of securing the network are consistently higher than the cost of attacking the network.
- The cost of attacking the network is prohibitively high.
### Background History on Origins of Cryptocurrency: ### Background History on Origins of Cryptocurrency:
[Blockchain Origins Story](https://www.activism.net/cypherpunk/manifesto.html) [Blockchain Origins Story](https://www.activism.net/cypherpunk/manifesto.html)
Cypherpunks, crypoanarchists, and libertarians paved the way for the right to privacy and deregulating the government's control and diminishing individual citizen's autonomy. Cypherpunks, crypoanarchists, and libertarians paved the way for the right to privacy and deregulating the government's control and diminishing individual citizen's autonomy.