Читать книгу Cryptocurrency All-in-One For Dummies - Peter Kent, Kiana Danial - Страница 32

Here’s a summary of how cryptocurrencies work (check out the preceding sections for details on some of the terminology):

1 When you want to use cryptos to purchase something, first your crypto network and your crypto wallet automatically check your previous transactions to make sure that you have enough cryptocurrencies to make that transaction. For this, you need your private and public keys (explained in Chapter 3 of this minibook).

2 The transaction is then encrypted, broadcast to the cryptocurrency’s network, and queued up to be added to the public ledger.

3 Transactions are then recorded on the public ledger through mining. The sending and receiving addresses are wallet IDs or hash values that aren’t tied to the user’s identification, so they are anonymous.

4 For PoW cryptos, the miners have to solve a math puzzle to verify the transaction. PoS cryptos attribute the mining power to the proportion of the coins held by the miners, instead of utilizing energy to solve math problems, in order to resolve the “wasted energy” problem of PoW. The PoI cryptos add a number of variables when attributing the mining power to nodes in order to resolve the “hoarding” problem that’s associated with PoS.