"Hey guys, I was trying to explain Proof of Work (PoW) and Proof of Stake (PoS) to my friend and I realized I had no idea how to simplify it without getting techy. So, I'm turning to you all - can someone explain the basic difference between these two consensus algorithms in a super simplified way? I'd love to get a good explanation that'll help my friend (and me) understand it better."
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
"Can Someone Explain the Difference Between PoW and PoS to a Noob?"
- Thread starter Bodr1n
- Start date
hWxRw5LrdPOb
New member
- Joined
- Nov 26, 2017
- Messages
- 1
- Reaction score
- 0
"Yaaas, so for all noobs out there, PoW (Proof of Work) is like mining for gold, where you gotta solve super complex math problems to validate a block and get a shiny new coin. PoS (Proof of Stake), on the other hand, is like being a shareholder, where you 'invest' in the coin by holding some and then get to create the next block. Make sense?"
"Dude, PoW (Proof of Work) is like digging for gold - it's energy-intensive and you need to solve a complex math problem to validate a block. On the other hand, PoS (Proof of Stake) is like a lottery where validators are chosen based on how many coins they hold. Think of it like the difference between hard work and good fortune"
andy071983
New member
- Joined
- Jul 19, 2014
- Messages
- 1
- Reaction score
- 0
Thoughts on best practices?
Valinoryan
New member
- Joined
- Apr 29, 2006
- Messages
- 2
- Reaction score
- 0
Thoughts on new trends?
turbodiesel
New member
- Joined
- May 17, 2006
- Messages
- 1
- Reaction score
- 0
Discussion: best practices
"Hey there, noob here for a sec. PoW (Proof of Work) is like a puzzle you gotta solve, and the one who solves it first gets the reward. PoS (Proof of Stake) is more like a lottery, where the one with the most coins in play gets to create the next block."