Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Bobcrypto on December 26, 2019, 07:24:23 PM
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This two algorithems determines a new block on the blockchain, that is, the proof of work and the proof of stake algorithm. They use different methods (or algorithms) to achieve consensus on which block will be added next to the blockchain.
Proof of work (pow) requires proof that work occurred. In the case of Bitcoin miners are required to do this work before any of their blocks is accepted by others.
Proof of stake (pos) requires users that have a high stake at the currency (i.e. hold a lot of coins) to determine the next block
Despite all the arguments, each of these consensuses has its place and utility. However, which of them is better? Thanks