What is Algorand’s consensus protocol? Revolut Crypto Quiz Answers

What is Algorand’s consensus protocol?

The Correct answer is Pure Proof of Stake.

Pure Proof of Stake (PPoS) is a consensus mechanism used in blockchain networks to achieve distributed consensus and validate transactions. Unlike Proof of Work (PoW), which requires miners to solve complex mathematical puzzles to add new blocks to the blockchain, PPoS relies on validators who are chosen based on the amount of cryptocurrency they hold and are willing to "stake" or lock up as collateral.

In a PPoS system, validators are selected to create new blocks and validate transactions based on their stake in the network. The higher the stake, the higher the chance of being chosen as a validator. This is designed to incentivize validators to act honestly, as they have a financial interest in the integrity of the network.

PPoS is often seen as a more energy-efficient alternative to PoW, as it does not require the same computational power to secure the network. It also helps reduce the risk of centralization, as validators are chosen based on their stake rather than their computational power.

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What Is The Revolut Crypto Quiz?

Revolut, a financial technology firm, has launched a new educational initiative called the Revolut Crypto Quiz. This initiative aims to attract more users to its platform. Users can earn free Polkadot tokens, valued up to $15, by participating in interactive quizzes.

To participate, users need to register with Revolut and play the quiz. The quiz focuses on the Polkadot ecosystem and is divided into nine short, informative lessons.

The first set of quizzes is already available for users to play. However, Revolut has not announced when the next set of quizzes will be released.