Proof of Work (PoW) and Proof of Stake (PoS) are two consensus mechanisms used in blockchain technology to validate transactions and secure the network. Proof of Work, used by cryptocurrencies like Bitcoin, requires participants (miners) to solve complex mathematical puzzles to validate transactions and add them to the blockchain. This process consumes significant computational power and energy, making it secure but resource-intensive. In contrast, Proof of Stake, used by networks like Ethereum after its transition from PoW, selects validators based on the number of tokens they hold and are willing to “stake” as collateral. Validators are chosen to create new blocks and validate transactions in a way that is less energy-intensive and more scalable than PoW. PoS aims to reduce the environmental impact and increase the efficiency of blockchain networks while still maintaining security through economic incentives.
Introduction to Blockchain Technology
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Blockchain Architecture
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Cryptography Fundamentals
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Consensus Mechanisms
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Smart Contracts and Decentralized Applications (dApps)
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Blockchain Platforms
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Blockchain Development Tools
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About Lesson
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