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CBSA Exam - Question 3


In the Proof of Stake(POS) algorithm the miners are really known as ___________?

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Correct Answer: C

In the Proof of Stake (POS) algorithm, the individuals responsible for validating transactions and creating new blocks are typically known as 'forgers.' This term is used because, unlike Proof of Work systems where miners solve complex mathematical problems to create new blocks, in POS systems, the selection process is based on the amount of cryptocurrency held by the participant, known as their stake. The process is more about forging the new blocks based on the stakeholder's wealth rather than performing computationally intensive tasks.

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KriscOption: D
Feb 22, 2020

The term "minters" seems to be used as well: https://hackernoon.com/is-spos-the-pos-killer-hw2l3364

NadhOption: D
Dec 26, 2022

In the proof of stake blockchain the appending entities are named minters or validators

Afro_Boy_UgOption: D
Aug 10, 2021

why am i also thinking of minters

SWObaby
Oct 19, 2021

Minting NFTs, perhaps?