Hello everyone,welcome to my blog,in regard to professor @sapwood Homework task.Here is my submission.
What is the difference between pow and pos? Advantage and disadvantages. Which one is better in scaling capacity examples
POS Simply means proof-of-stake while POW means proof-of-work. this are blockchain technology that functions with cryptocurrencies in different dynamic ways.
Proof-of-stake(pos) is a centralized block technology,it is less secure than (pow) proof-of-work.
It was created as an alternative to proof of work which is the original consensus mechanism Blockchain technology.
Proof-of-work(pos) creates or validate new blocks to a chain and also confirm transactions
Proof-of-stake(pos) is less risky in terms of potential for miners to attack the network.
Proof-of-work(pow) is however a decentralize Blockchain,it distribute database that represents a ledger of transaction.
proof-of-work- functions with high security system which present counterfeit from tempering with the database
The system concepts,authenticate transactions without any third party involvement
Proof-of-work, provide solid mechanism consensus and preventing misuses.
Several blockchain are base on proof-of-work technology system for smooth sustainable transactions
| Advantage | Disadvantage |
|---|---|
| 1. Proof-of-stake is certainly most advanced than proof of work | 1. pos functions on a less security level making it easy for computer expertise counterfeit to temper with the database |
| 2. The protocols of the proof-of-stake vary from case to case but the general concepts is the same | 2. pos technology system addresses mining power |
| 3. Pos technology is the second most popular mechanism in terms of market capital of Blockchain network. | 3. Proof-of-stake powered blockchain networks are maintained by validators or creators. |
| 4.proof-of-stake is a centralized technology Blockchain system | 4.it does not require a mining rig |
ADVANTAGE AND DISADVANTAGE OF PROOF-OF-WORK
| Advantage | Disadvantage |
|---|---|
| 1. Proof-of-work requires huge amount of energy consumption for the computer power used by miners | 1. Proof-of-work centers on on a higher application capacities needed to resolute or map out issues,in establishing Blockchain transactions. |
| 2. Proof-of-work render greater scalability and fasters transactions rate. | 2. Pow colligate cost likewise, preclude amount of people/individual from part-taking in a particular block. |
| 3. Proof-of-work system technology is widely considered unsustainable as the energy consumption to mine Bitcoin, leaves a significant carbon footprint. | 3. The energy level or degree cost,related together in running and maintaining powerful computer system,requires massive amount of energy. |
| 4. Proof-of-work have the quality of being restricted | In addition to all,proof-of-work, functions on a decentralized technology system,a peer to peer transaction that involved zero third parties. |
which is better in scaling capacity examples
In my humble self opinion, proof-of-work (pow) is better in scaling. Reasons is, pow functions or centers on a high security system that prevent any individual or third party from tempering into the database or transactions.
Several blockchain are base on proof-of-work examples; Ethereum,Litecoin, Bitcoin,Dogocoin cryptocurrencies. To validate transactions,maintain and build the entire Blockchain on crypto-coin and crypto-tokens.
Bitcoin the largest crypto currencies runs with proof-of-work(pow) rather than proof-of-stake, because of the massive security and networks making it hard for hackers to gain access into the database system.
This is my understanding in this homework task.
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@sapwood