Chapter 11: Proof of Stake vs Proof of Work
by Bruno Škvorc
This article on Proof of Stake vs Proof of Work was originally published at Bruno’s Bitfalls website, and is reproduced here with permission.
You’ve probably heard of PoW (Proof of Work) and PoS (Proof of Stake). You may have heard of DPoS (Delegated Proof of Stake) and PoA (Proof of Authority) as well. We’ll discuss each method in this article.
Proof of Work
With Proof of Work, your miner (the computer or group of machines under your control) does the following things:
It takes from the internet the order to process some transactions. In other words, it takes from the miners geographically closest to it a set of transactions it’s supposed to verify, in which it’s written who’s sending ...