What is a Proof of Importance POI?

What is Proof of Importance,POI? Along with Nem coin, it is one of the biggest innovations to enter the blockchain industry.. It is an algorithm that uses network theory to determine the importance of each account in the network.

Proof of Importance is what POI is not

Proof of Importance is one of the biggest innovations to enter the blockchain industry along with Nem coin. It is an algorithm that uses network theory to determine the importance of each account in the network.

Proof of Importance uses network theory to score each account’s importance in the blockchain network.. It rewards other users who transact on the network.

That is: This algorithm depends on how active you are on the network.. The more active you are as a user in the Proof of importance system, the more rewards you get.. In this system, every user is rated and the higher your score, the higher the rewards.. The POI algorithm is designed to reward loyal and recurring users of the Blockchain.. here but. to encourage users to use the blockchain platform more.

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POI’ What Makes It Different From Other Algorithms?

In the POW algorithm, those who can provide the most powerful computing arrays, that is, those with more powerful hardware, have an advantage over other users.. These systems also consume a lot of energy and cause expensive electricity bills.

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POS gives an unfair advantage to coin hoarders. The more money they have in their account, the more they earn.. This means that the rich are getting richer and everyone is saving money instead of spending it.

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POI Such situations cannot be mentioned in Turkey.

How does Proof of Importance deal with these problems?

• Does not require special and expensive hardware,
• POI only counts funds in accounts on certain days,
• Users cannot gain advantage by switching between several accounts, The algorithm only counts net transfers over time.
• The higher the number of coins earned, the higher the account’s Proof of Importance score,
• As with Nem coin, at least 10,000 cryptocurrencies required,
• POI rewards users who transact with others in the network,
• 10% of undeposited amount available in POI are available every day,