The Floki token is built on the Ethereum blockchain, which uses a proof-of-work (PoW) consensus mechanism. In this system, miners compete to solve complex mathematical problems to validate transactions and add new blocks to the chain. This energy-intensive process helps secure the Ethereum network by making it computationally difficult to attack or tamper with the blockchain. Transactions on the Ethereum network are validated by a decentralized network of nodes, further enhancing the security of the Floki token.
In addition to the Ethereum network, the Floki token is also available as a BEP-20 token on the Binance Smart Chain. The Binance Smart Chain uses a proof-of-stake (PoS) consensus mechanism, where 21 validator nodes are elected every 24 hours to validate transactions and maintain the network's security. These validators must stake a certain amount of BNB tokens with Binance to be eligible, providing an economic incentive to act honestly and secure the network.