What is Nominated Proof of Stake? Revolut Crypto Quiz Answers

What is Nominated Proof of Stake?

The Correct answer is Polkadot’s energy-efficient way of validation transactions.

Polkadot's energy-efficient way of validating transactions is achieved through its use of a proof-of-stake (PoS) consensus mechanism. In a PoS system, validators are chosen to create new blocks and validate transactions based on the number of tokens they hold and are willing to "stake" as collateral. This is in contrast to proof-of-work (PoW) systems, like those used by Bitcoin, where miners compete to solve complex mathematical puzzles to validate transactions and create new blocks, requiring significant computational power and energy consumption.

By using PoS, Polkadot reduces its energy consumption compared to PoW-based blockchains, making it more environmentally friendly. Additionally, PoS systems often allow for faster transaction finality and higher transaction throughput, as block production is not limited by the time it takes to solve complex puzzles.

Brain Teaser: Find the Odd One in 10 Seconds

How to Hide Your Location on Snapchat? How to Turn Off Your Snapchat Location?

Optical Illusion: Can You Try to Find the Hidden Number in 10 Seconds?

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.