How Proof Of Stake Works. In Proof of Work computers that verify transactions in this context they are called miners race to solve difficult random and varying computer puzzles hash guess-and-check. With Proof of Work the probability of mining a block depends on the work done by the miner eg.
In the case of Proof of Work it means capturing 51 of all the computing power which is harder. In Proof of Work computers that verify transactions in this context they are called miners race to solve difficult random and varying computer puzzles hash guess-and-check. In recent years people started working on a different technique called Proof-of-Stake.
Proof of Stake.
Proof of Work POW mining requires huge amounts of energy consumption to fuel computational power. Under proof of stake those with a larger stakea larger amount of the currency held in a wallethave higher chances of being selected to validate a block and earn the transaction fee. The concept of proof of stake was created as an alternative to proof of work pow and it has become one of the most widely used mining schemes as it rewards miners based on the numbers of token staked. While Proof of Work rewards its miner for solving complex equations in Proof of Stake the individual that creates the next block is based on how much they have staked.
