Proof-Of-Work Is Objective, Proof-Of-Stake Is Not
The proof-of-work consensus mechanism used in Bitcoin is an objective measure of history which cannot be changed on the whims of validators.Alan Szepieniec holds a PhD in post-quantum cryptography from KU Leuven. His research focuses on cryptography, especially the kind of cryptography that is useful for Bitcoin.Proof-of-stake is a proposed alternative consensus mechanism to the proof-of-work that Bitcoin’s consensus mechanism uses. Instead of requiring the consumption of energy, proof-of-stake requires miners (usually called validators) to put digital assets at stake in order to....
Related News
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.
A technical and in-depth analysis of the trade-offs that Ethereum’s consensus mechanism makes in its switch to proof-of-stake and how proof-of-work differs.
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.