Understanding the Nakamoto Consensus

Cardano uses a variation of the Nakamoto consensus called Ouroboros. It is a Proof-of-Stake (PoS) consensus that uses the underlying principles invented by Satoshi Nakamoto for Bitcoin. 

Ouroboros is designed to provide similar security guarantees as Proof-of-Work (PoW) while being more energy-efficient. In the article, we will explain the basic principles of the Nakamoto consensus and highlight the differences between PoW and PoS. 

The focus will be on the principles and underlying mechanisms. The Nakamoto consensus The Nakamoto Consensus was invented by Satoshi Nakamoto, the pseudonymous creator of Bitcoin. It is a solution to the Byzantine Generals Problem, which asks if it’s possible to achieve consensus in a distributed network of independent nodes. 

Ouroboros is designed to pr Read article: Understanding the Nakamoto Consensus