Many of you may have heard about Proof of Stake, specifically that Ethereum is moving toward a hybrid model using Proof of Stake and Proof of Work.
But of course, the same lot of you probably asked, “What the heck is Proof of Stake really?” Let’s dive into that.
There are, currently, two main Blockchain systems that the larger crypto-networks utilize:
Proof of Work
Proof of Stake
Both of these Blockchain systems govern how transactions are verified on the decentralized network. So before we explain what Proof of Stake is, we need to explain how Blockchains are formed.
Hashes, Blocks, and Blockchains
Take a look at this video to better explain the fundamental parts of a Blockchain. You can play around with making (conceptual) hashes, blocks, and blockchains here.
https://medium.com/@robertgreenfieldiv/explaining-proof-of-stake-f1eae6feb26f
Blockchain & Bitcoin Conference Germany | 04 April 2018 | Berlin, Germany https://bitcoingarden.org/forum/index.php?topic=29368.0tnx … @Blockchain_Conf @bitcoingarden | #Crypto #Events
Nice post!!!
Thank you.
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nice post @cryptojb
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https://medium.com/@robertgreenfieldiv/explaining-proof-of-stake-f1eae6feb26f
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