Proof of Work vs Proof of Stake: What's the Difference?

Are some tokens more energy efficient than others? In this Stronghold 101 episode, Stronghold CTO and Co-founder Sean Bennett explain 2 major types of consensus mechanisms: Proof of Work and Proof of Stake. Which is more climate-friendly and why?

Comment below with your thoughts on proof of work vs proof of stake

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Stronghold is a payments infrastructure company with a mission to provide fast, secure, and accessible financial services for all. Through our developer APIs, we enable access to legacy and next-generation financial services.

Stronghold and its network members use SHx for real-time settlement, fee discounts, a rewards program, and merchant cash advance through decentralized finance.

#proofofstake #proofofwork #consensusmechanism

[silmasilma]

For a long time I struggled with these two issues. I was very confused between POW and POS. But after watching this video, my confusion totally removed. Always this channel helps me with right information at right time.
I am proud to be a member of Stronghold family. ❤️❤️❤️

[danielobuje]

Block chain transaction is what the what many had been expecting cos there are still hinderance in some part of the world. It just how the awareness and acceptance can be widen, it need more awareness. To a point, kudos to it spread.
#crpto
#blockchain
#stronghold

[CKJcryptoNews]

Sean Bennett would Love to have you on Show... Please let me now ?

[Deepakufo]

As always, top notch intels about crypto space from #SHX 'The Stronghold Team' 👍

[harishharikumar]

Bitcoin/Litecoin is impossible to replicate, but everyday there will be new POS blockchains claiming they do the best. That is the single point make POW crypto so much precious. POS cannot serve the purpose of an asset or currency, but they are good for creating blockchains serving other purposes.

[retribution]

POW makes it harder to obtain the rewards aswell as creates more problems to the environment compared to POS. SHX has found a great way to deal with these problems by implementing Stellar network into it which costs minimal fee for transactions without compromising the speed. Rooting up All the way to SHX.

[Mapdotnowhere]

TC boasted a goal of 1M active wallets by 2023. What events led to such a huge miss?

[foxeane]

Mining ⛏️ is better and best /stake too...!

[mgchit]

i support thee, all jokes aside this is a good effort to better peoples lives, i hope it does well 👍

[cubegWebChannel]

thanks Sir Sean for diving into the difference of POW & POS Blockchain, but i do seem notice there are still who believes that the value of coin relies also on how it was produce or created thus like mining bitcoin essentially gives rather more value bcoz of its hard to produce, you need high end hardware to mine it & yes it consumes huge amount of electricity thereby regarding by nature organizations to add harmful to our environment, on the otter hand staking yes it is friendly to environment bcoz of less energy consumption but its coin/token is readily minted or produce thus its price is heavily depends on community demand, & also the downside is those who have many monetary to stake will have the greatest advantage to earn although yes there are stake pools so individuals with minor hold can have chance & still manage to be rewarded, so i guess we are still early on the proof of stake blockchain and we will see on days how things will evolve eventually

[mfs]

Happy to know that Stronghold is partnering with Stellar Network to provide low fees and to minimize their environmental impact. This allows Stronghold to expand their access to all.

[kishoresatpute]

From my understanding, Stellar consensus protocol should be renamed to POS 2.0 ( because of the vetting of the list of trusted parties) this is a much superior and efficient method. In the same breadth, Stronghold is one protocol we can safely say managed, solved and improved upon what Ethereum is working on and aspires to- be it low fees, less environmental impact, faster transactions and so on. This reflects in the consistent fees for transactions on Stronghold protocol ( always 1 SHx) and the the speed ( the fastest for any chain i have used). Once again, i want to thank you for this initiative of spreading knowledge because it is very difficult for a newcomer to get reliable and authentic information.

[Sonsardunya]

I am really grateful for your work towards the environment and most importantly the correct use of energy. While our world is currently suffering from energy shortages, I am very happy to set out with $SHX

[shadowshaman]

i do agree proof of stake is less harmful to the environment coz it doesn't need massive energy consumption but there are still issues concern and this regarding to the coin itself and the stakers, the loophole is offcourse whales will initially will have the most opportunity for reward and with regards on giving value to the coin, i think mining coin still gives the added value to it as is mining digitally like real mining are hard to do & needs massive equipment to mine, so its also price vs easy earn price

[pepitagimenez]

A new, fairer and more decentralised economy that cares for the environment. This is the way forward

[pulepule]

Stronghold is the best place to be for they make it easier to understand what whey do

[Mhakal]

Thanks for sharing with us.this news will help us to make more $SHX with #DECENTRALIZE

[jyo]

When we come up on comparision between Proof of work and proof of stake POW makes users harder to obtain rewards and POW is not much user-friendly than POS. But our strong hold team has found a great way to deal with the problems by implementing the minimal fee network so called stellar network without compromising the speed of the transactions.

[robertmukuka]

The proof-of-stake system has several advantages over the proof-of-work scheme, including greater energy efficiency as mining blocks don't use much energy. It's nice to see SHX following the best option available out there. Awesome Job guys

[pETER]

I am really glad that i followed stronghold, they are the best because they know how to make things simple and easy to understand such great peace of knowledge in so less than that's great. Keep the good work STRONGHOLD TEAM. 😍😍