Proof of Work vs Proof of Stake: What's Better? | 3-min crypto

Cryptocurrencies are validated through consensus mechanisms. These mechanisms are put in place to 'validate' instructions on the blockchain.

This video will look into two different consensus mechanisms; Proof of Work and Proof of Stake. Let's see how they stack up against one another!

Links Mentioned:

Timestamps:
00:00 Intro
00:54 Proof of Work
01:20 The shortcomings-Proof of Work
02:17 Proof of Stake
03:02 The shortcomings- Proof of Stake
03:39 Which one is your favourite?

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#blockchain #crypto #cryptocurrency #bitcoin #ethereum #POW #POS #staking #mining

[CoinGecko]

Geckos! Do we want MORE animated series? 😎

[PvMLad]

Proof of work/proof of stake are not consensus mechanisms. This is a misunderstanding commonly repeated by crypto enthusiasts. Proof of work/stake are in fact sybil defense mechanisms.

Bitcoin uses nakamoto consensus, which is that the longest chain is the correct chain. Proof of work is just the anti sybil mechanism that prevents network participants from producing blocks without proof that they control some economically valuable resource. In Bitcoin's case this economically valuable resource is compute power. For proof of stake networks the economically valuable resource they use to prevent sybil attacks is their own network token. This means that if you want to mint new coins you first have to have a stake in the network. While to mine new bitcoins you do not need have any stake in bitcoin - you simply need some compute power.

[miltonbates]

Proof of work is ultimately more secure, especially if the network isn't highly widespread (both by node operators and geographically) and decentralized, it may be mote vulnerable to market manipulation and network attacks.

[rrobster]

POW is the more secure (and decentralized) option. It will have less of a negative connotation as it moves into more sustainably friendly sources.

[dat]

POW: trust in math
POS: trust in rich people

[MadMattIndusstries]

Proof of Work. Otherwise my investment is going to be one giant paperweight

[aviadgispan]

What about kaspa? POW that base on graph of block instead of a chain. the result is that kaspa is the only crypto coin that is base on pow, real distributed and scalably

[lifeofalemon]

BTC stick to PoW.
Rest can go for PoS.

[EileenTheCrw]

Personally I think POS is a little bit of a con unless it has something in place to guard against whale manipulation.. otherwise it's just the richest people being able to collude and take over a network. Yes this can kinda happen with pow, but it's much harder and more complicated.

[CristinaNavarro-oiim]

I know nothing about trading or Investing and I wanna get started. What are some strategies to get started with?

[se]

what's with the tv static animation use

[meytimeshki]

I don’t understand this quota that you said : “ Because bitcoin miners need to have the high-end computing hardware to verify transactions in bitcoin, this makes the mining prohibitively expensive and a lot of computing power is ironically centralised “ could you please explain ?

[PvMLad]

Examples of consensus mechanisms include nakamoto consensus, classical consensus and Avalanche consensus.

Examples of sybil defense mechanisms include proof of work and proof of stake.

[bhavinsoni]

Can you please explain all of chain technology and use case and project name please

[CG-uynk]

Proof of work is not "slower" or less scalable than proof of stake. performance has nothing to do with the consensus algorithm. that was a big mistake.

[JoshNix]

Let the free market decide which cryptos are the best, not governments or corporations

[CobeyRiley]

I'm hybrid. Mining one to buy the other.

[criptoejesus]

Opinions ruin truth.
I hate when big companies try to get us to argue over a topic they think is opinionated and yet there is actually a logically truthful answer.
POS means, the rich get and stay richer.
Proof of work literally means to show your work ethic and score based off of that.
Harder workers and smarter workers get paid
That is literally the only acceptable answer.
Everything else is a opinionated piece and deserves no extra credit.

[dwayneduvenhage]

Please do a video on adaptive state sharing. 😁

[Leiaandtogo]

I think POR will be far better once it's launched by the end of year