Proof of Stake

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Proof Of Stake

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As I have already given a little explanation about the types of the blockchain consensus and mechanisms. So today I am going to explain the proof of Stake here with some more details.

Proof of Stake is the second blockchain consensus introduced after the proof of work. As we know that I'm the proof of work we have to solve the cryptographic puzzles using our computer machines. And we have to become I line all the time to pick the transactions. This process is said to be known as mining. And all the miners reffer to pick the transactions with high fees first then with the low fees. And fir this purpose they have to use their energy continuously. And it costs them more.

So in order to elimite the energy costs the proof is stake was introduced. And Ethereum also moving from the proof of work to the proof of stake to save the energy costs. And proof of stake is more secure than the proof of work. As you can get an idea from the name as it includes stake. So in the proof of staking,the miners or validators have to stake the required amount of the liquid tokens and then they become eligible to validate the transactions.

In this way they cannot do any fraud, because a validator can delay the transactions or can hakt them or rreject them without any reason or getting benefit from any other service. But in the proof of stake the validators can't do it. As the validators had staked their money, abdif they do any illegal thing then their account will be freezed and that staked amount will not be returned to the validator. So it is more secure and fast than the proof of work. In this way the proof of stake was introduced which is more transparent.