Take CryptoKitties. When the blockchain-based collectable cats were introduced in October 2017, they were all the rage. Thousands of cats were created

Proof of Selection: A Better Alternative to Proof of Work

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2021-10-28 05:30:06

Take CryptoKitties. When the blockchain-based collectable cats were introduced in October 2017, they were all the rage. Thousands of cats were created and sold, with some kitties fetching prices of over $100,000. CryptoKitties was built on the Ethereum network, which couldn’t handle the load. CryptoKitties crashed Ethereum.

This is due to the primitive state of consensus algorithms — the method that lets all the nodes on a blockchain network agree with each other. Each consensus algorithm has its own set of limitations and flaws:

1. Show how Proof of Selection does not require mining, has equal block publishing rights that are not based on stake, and has no centralized coordinating processes.

2. Outline a new digital ledger infrastructure based on Proof of Selection to achieve a more efficient method of decentralized currency, storage, data transactions, and research.

3. Explain how to integrate Proof of Selection into existing digital ledger technologies that need better scaling or more decentralization.

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