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Proof of Work vs Proof of Stake: A Detailed Comparison

Written By Ivan on Tech

Aug 14, 2020

The “proof of work vs proof of stake” debate has been raging for a long time. Many modern projects have opted from proof of stake (POS) over the more traditional proof of work (POW). Your old school currencies like Bitcoin, Zcash, and Ethereum (pre 2.0) were all based on POW. So, in this article, let’s learn more about POW and POS. But first, let’s look into what we mean by consensus algorithms.

Proof of work vs proof of stake - What are consensus algorithms?

Consensus is a method with which a group can reach an agreement dynamically without causing any discord in the group. As such, it's a lot more positive than simple voting, which doesn’t care about the minority's feelings. A mechanism that allows you to reach consensus is known as a “consensus algorithm.” There six rules that consensus algorithms must follow:

  • It should give a result.
  • It must create a spirit of collaboration.
  • The participants must put the interests of the group before...
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