Proof-of-Work (PoW) is the process Bitcoin uses to synchronize the design of blocks with the state of the blockchain. Proof-of-Work provides all members of the Bitcoin network with an objective way to agree on the state of the blockchain and all Bitcoin contracts.
Proof-of-Work (PoW) was first said to be introdu introduced in 1993 to prevent denial of service attacks another service abuse such as spam on the network by requiring some work from the service which generally means processing time by computer. At present Bitcoin uses a proof of work to validate transactions and broadcast new blocks to the blockchain.
This usually works in this competition when miners on network fight against each other in challenge of solving a complex computational puzzels. This at the end results in to verify are the correct solution but it’s been challenging to solve the puzzles. The block to the network is broadcasted by the miner with generally find the solution which in turn is being analysed and verified by other miners.
Proof-of-Work (PoW) helps to protect the network against numerous attacks which require a which in turn is really expensive as it can do one seems lot of electricity and energy be superior than the potential reward for attacking the network and computer hardware.
Proof-of-stake POS instead uses an election process in which onenote is randomly chosen to validate the next node. Simple words unlike proof-of-work, proof-of-They can also stop concert so type conservation stake has validators not miners. In this way mint or forge blocks not like proof of work we don’t mine the block. to become a validator unknown has to deposit a certain amount of coins into the network as a security deposit or as a stake. to maintain the integrity of proof of stake validators might lose a part of the stake if they approve fraudulent transaction. Example cryptocurrency of POS is Kyber network
