September 2019
Beginner to intermediate
540 pages
13h 3m
English
Content preview from Learn Ethereum
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Shift to proof-of-stake
The consensus mechanism is the trust protocol for securing the blockchain. Out of more than a dozen consensus protocols, Proof-of-Work (PoW) and Proof-of-Stake (PoS) are the most popular ones. Ethereum started off based on the PoW protocol, which is now in favor of shifting to PoS.
You may remember that we analyzed both PoW and PoS consensus algorithms in depth in the Anatomizing blockchain consensus mechanism section of Chapter 1, Blockchain and Cryptocurrency. We discussed the advantages and disadvantages of both algorithms. The main issue with PoW is that it is energy-intensive, has a high cost of mining, and is less scalable.
A PoS-PoW hybrid consensus model, with intentions to provide stronger economic finality ...
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