Emirati-based blockchain Bahamut goes live with PoSA consensus
The proof-of-stake-and-activity (PoSA) consensus mechanism adds an extra layer of security to blockchain. Bitcoin (BTC) launched with the ideal technology for the era it was introduced in. Proof-of-work (PoW), the underlying consensus that predates the first cryptocurrency, provides a self-sustaining mechanism where numerous miners around the world can contribute to verifying BTC transactions. As the crypto ecosystem expanded and more use cases were brought to life, the PoW mechanism started showing its limitations, such as extensive energy consumption and slow transaction processing times. Blockchain networks that focus on building an ecosystem instead of addressing just one specific use case, such as Ethereum, have adopted the proof-of-stake (PoS) consensus mechanism, where verified stake in the ecosystem is vital for the security of the network. The dawn of the Web3 era, where a vast number of businesses established themselves purely on blockchain , brought a diverse set of user ne...