Proof of Stake and Proof of Work

in #myanmar8 years ago

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Proof of stake based cryptocurrencies(ethereum) are totally differ from Proof of work cryptocurrencies.

Proof-of-work (PoW) always solve complex equations in network to validate the transaction
and to generate a new block(mining).
In POW . miners can get block rewards by facilitating transactions.

In PoS-based cryptocurrencies . new block are always choosen by randomatically.
New block formation depend on the individual coin wealth in his wallet.

So POS not need energy consumption.
It can get new blocks easily by smart phones.

It is not mining .
It has no mining rewards and difficulty.

It is called minting.
The latest blockchain techanology of cryptocurrencies.

In POS . no block rewards .
Mainly depend on transaction fees to continue coins generating.

Today most latest cryptocurrencies use POS because they can save energy and costs and can get so much profits.

Ethereum is the best example of POS.

POS can attract so many investors by just staking coins in their wallet they can get new coins in everyday .every month.

How lovely this POS.

You should invest in POS cryptocurrencies for longterm profit and easy minting.

Thanks