An alternative to the proof-of-workAdam Back is the inventor of hashcash, which is a proof-of-work system used by several anti-spam systems. It in turn inspired a similar system in bitcoin. system, in which existing stake in a cryptocurrencyA Cryptocurrency address is used to receive and send transactions on the network. An address is most commonly represented as a string of alphanumeric characters and sometimes referred to as wallets. Addresses can also be represented as a scannable QR code. is used to calculate the amount of that currency one allowed to mine. A proof of stake system requires the prover to show ownership of a certain amount of money rather than requiring a user to perform computational work,

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