Cardano Foundation Team: How Cardano uses significantly less energy while maintaining the same level of security as Bitcoin

Cardano Foundation Team: How Cardano uses significantly less energy while maintaining the same level of security as Bitcoin
editor_iot
6/06/2021 – 09:07

“Similar to how a car engine makes the car drive, and different engines make the car more or less efficient, the same could be illustrated for cryptocurrencies. A cryptocurrency’s engine is its consensus protocol. A cryptocurrency’s blockchain is distributed, meaning there is no single entity that controls the network. Instead, it is spread across nodes who verify transactions. Consensus protocols make sure every node is in consensus (i.e. agreement) and that the information on the blockchain ledger is correct.

Cardano provides the same high level of security as Bitcoin but uses its native token, ADA for consensus rather than hashing power from mining equipment. To distort Cardano’s network you would need to control the majority ada. Below is a calculation of the amount of money required to have majority control of Cardano’s network.”

Source
https://forum.cardano.org/t/how-cardano-uses-significantly-less-energy-while-maintaining-the-same-level-of-security-as-bitcoin/62629IoT Council – What the Internet of Things means for societyRead More