I am diving into Algorand and wanted to better understand its Pure Proof of Stake consensus mechanism. I know it’s designed to ensure decentralization and security but I am curious about the practical implications of this system:
How does PPoS achieve fair participation without relying on high computational power like Proof-of-Work systems: ??
What’s the role of Algo holders in this consensus: ?? Is there a minimum requirement to participate: ??
Are there any potential risks of centralization if a few parties hold a large amount of Algos: ??
From what I have read, Algorand’s approach seems more energy-efficient and inclusive but I would love to hear insights from those with hands-on experience. Does this design scale well with increasing network usage: ??
Any simplified explanation or resources for a beginner to grasp these concepts would be super helpful !!
Thanks in advance for sharing your knowledge.
Looking forward to learning more from this amazing community !!
@Adri great videos, these " Algorand Classroom". Is there a playlist of these videos?
So security is assigned to an Algo holder, i.e. an Algo account? Up till yesterday I thought it is connected with a participation node. But lets imagine, that there is a running node in a data center, which allows you to register with goal node register. What happens, when on this node another user registers? Any number of users can register as participants? What about Algorand incentives? If a user registers whose Algo amount is between 30K and 70M Algo, takes part in incentive mechanism, as long as the node is running? If so, what prevents then that 1000M worth of Algo holders register on a node?
Also, I would like to ask @marcelosalas to pardon me, I thought that he is interested in general about the prinicples of PPOS in Algorand. But after some thought, I see that the present situation badly needs some clarification. See my above questions. As a historical overview also watch this: Algorand, The Public Ledger - Silvio Micali It was recorded 8 years ago!