Proof of Work Vs Proof of Stake – Laneaxis
The cryptocurrency world has been adapting to the current demands and generating new consensus algorithms with better functionalities. The first consensus algorithm was the Proof of Work algorithm, but today there are various protocols such as Proof of Stake and Proof of Space. Specific consensus algorithms offer certain advantages over others. For example, the Proof of Stake algorithm is a more secure, faster and cheaper consensus protocol than Proof of Work. LaneAxis, the world’s freight brokerless direct freight network, utilizes a Proof of Stake algorithm to ensure quick transactions....
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What is delegated proof of stake? “(DPOS) Delegated proof of stake is a new consensus algorithms that allows shareholders (or the users of the system) to have control over who is certifying the ledger. it allows us to have 10 second block times, process 10 transactions per second or more, and allows the network to scale; to have dedicated nodes that are highly efficient and specialized yet remain in control of the shareholders. We can actually have 10 second confirmation on your blocks that is more secure than bitcoin.” How is DPOS different than proof of stake or proof of work? “Proof of....
Proof-of-work is the innovation that drives energy innovation. Proof-of-stake ensures the richest among us will continue their control over others.
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It is evident that proof-of-work is a pure representation of free-market forces as opposed to the control of proof-of-stake.
Bitcoin Magazine Pro hosted a Twitter Spaces that brought the biggest names in Bitcoin and crypto to converse about the Ethereum move to proof-of-stake.