Question

What is proof-of-weight (PoWeight)?

Answer 1

Proof-of-Weight (PoWeight) is a consensus mechanism used in blockchain technology to secure and validate transactions. It assigns more mining power to nodes based on the amount of cryptocurrency they hold or the length of time they have held it. This approach aims to incentivize long-term holding of the cryptocurrency and reduce the environmental impact of traditional proof-of-work systems.

Answer 2

Proof-of-Weight (PoWeight) is a consensus algorithm that utilizes the amount of wealth or stake held by each participant in a network to determine their mining power or influence in the decision-making process. This means that the more tokens or coins a user holds, the greater their ability to validate transactions and secure the network.