How It Works
Proof of History (PoH): Recursively used hash. A “leader” is selected and executes transactions on the current state, then publishes the final state to “verifiers”.
Verifiers utilize parallelization to execute sections of the same transactions on their copies of the state in order to verify that the Leader has acted honestly…If a failure is detected by a two thirds majority of Verifiers, then the Leader is stripped of its role and the Verifier with the largest voting power takes on the position of the Leader. ~Solana and Proof of History.