Proof of Stake (PoS)
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Transactions on the Venom blockchain are secure and tamper-proof thanks to its advanced consensus mechanism and the structure of its distributed network. Venom’s Proof-of-Stake consensus is based on the Byzantine fault-tolerant (BFT) consensus algorithm which increases the network’s resistance against attacks significantly.
Dynamic sharding, a hybrid Proof-of-Stake (PoS) consensus mechanism, and a Byzantine fault tolerance (BFT) algorithm are used to accomplish the high processing speeds in combination with low transaction fees.
The Venom Blockchain uses a hybrid consensus protocol that combines proof-of-stake (PoS) and Byzantine fault tolerance (BFT) algorithms. The PoS consensus is used to select validators who can participate in the consensus process and produce new blocks while the BFT algorithm is used to ensure that the selected validators agree on the state of the blockchain. This consensus protocol is highly efficient and provides fast finality, which means that transactions are confirmed quickly and are irreversible.