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Proof of work (PoW) is a form of cryptographic proof in which one party (the prover) proves to others (the verifiers) that a certain amount of a specific computational effort has been expended. [1] Verifiers can subsequently confirm this expenditure with minimal effort on their part.
The XRP Ledger operates on a consensus protocol that differs from traditional proof-of-work (PoW) and proof-of-stake (PoS) mechanisms. [8] [3] Transactions are validated by a network of independent validators who reach consensus every 3 to 5 seconds, enabling rapid transaction settlement. [8]
After nodes confirm a block is valid, consensus protocols such as proof of work and proof of stake are deployed by miners. [8] These protocols allow nodes to reach a state of agreement on the order and number of transactions. [9] Once a transaction is verified, it is published on the blockchain as a block. [6]
The first functioning implementation of a proof-of-stake cryptocurrency was Peercoin, introduced in 2012. [3] Other cryptocurrencies, such as Blackcoin, Nxt, Cardano, and Algorand followed. [3] However, as of 2017, PoS cryptocurrencies were still not as widely used as proof-of-work cryptocurrencies. [19] [20] [21]
The Proof of Capacity (PoC) consensus algorithm is used in some cryptocurrencies. Conditional Proof of Capacity (CPOC) [10] is an improved version of PoC. It has a work, stake, and capacity system that works like the PoW, PoS, and PoC algorithms. By pledging their digital assets, users receive a higher income as a reward.
Registered mail is a postal service in many countries which allows the sender proof of mailing via a receipt and, upon request, electronic verification that an article was delivered or that a delivery attempt was made. Depending on the country, additional services may also be available, such as:
A proof of delivery (POD) is a document that substantiates that a carrier has satisfied its terms of a contract of carriage for cargo by confirmation of the recipient or consignee. [1] When the sender sends multiple documents through the mail , there is a possibility of some not reaching the intended recipient.
Merchant type, or merchant category code 19: n 3: Acquiring institution (country code) 20: n 3: PAN extended (country code) 21: n 3: Forwarding institution (country code) 22: n 3: Point of service entry mode 23: n 3: Application PAN sequence number 24: n 3: Function code (ISO 8583:1993), or network international identifier (NII) 25: n 2: Point ...