Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: CryptoZenWorld on October 07, 2018, 09:17:23 PM

Title: POW vs POS
Post by: CryptoZenWorld on October 07, 2018, 09:17:23 PM

POW:  Proof-of-Work, or PoW, is the original consensus algorithm in a Blockchain network. In Blockchain, this algorithm is used to confirm transactions and produce new blocks to the chain. With PoW, miners compete against each other to complete transactions on the network and get rewarded. So, the more mining power one miner has the more block he will get block reward. Here, The Mining power of POW depends on the quality of mining device and Electricity power. For example: Bitcoin Blockchain.

POS: Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins he or she holds. This means that the more Bitcoin or altcoin owned by a miner, the more mining power he or she has. For example: Etherium Blockchain.

PoW vs PoS showdown: which is more centralized?

Ans: Read this article to know about this --->  https://www.poolofstake.io/blog/pow-vs-pos-showdown-which-is-more-centralized/

Title: Re: POW vs POS
Post by: epoc on October 18, 2018, 03:33:04 PM

Every coin should go pos. Pow is using electricity, gpus etc. Waste of money and time.

However proof of stake is green technology. Therefore Ethereum will work as proof of stake in the future.

Title: Re: POW vs POS
Post by: crypto_girl on October 26, 2018, 07:17:59 PM

Thanks for information. That`s useful.