Consensus Mechanisms: What Are They and What Are the Pros and Cons for Each Different Method?
Discover the consensus mechanisms in the world of blockchain and cryptocurrency: PoW, PoS, PoA, DPoS, PoC, PoET, and PoB.
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A snapshot means a snapshot of the distribution of all tokens of a particular cryptocurrency. Because blockchain ledgers are transparent, it is possible for anyone to see which addresses own how many tokens. There are several reasons why snapshots are done. Sometimes a project needs or wants to switch to a new token contract. To ensure that everyone keeps the same amount of tokens, a snapshot is taken and then all holders receive the same amount of tokens in the new contract. Another reason is that new projects want to involve or reward a certain community. A snapshot is then made to reward the holder addresses with a free new token.
Discover more termsPoaps are a special kind of NFTs. You can see it as...
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Read moreProof of Stake (PoS) is one of the most widely used blockchain consensus mechanisms...
Read moreDiscover the consensus mechanisms in the world of blockchain and cryptocurrency: PoW, PoS, PoA, DPoS, PoC, PoET, and PoB.
Read moreLately, we've been hearing more and more about zk rollups as the ideal solution to Ethereum's scalability problem. Learn more about ZK rollups and why they matter here.
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