Proof of Stake and Proof of Work
In: 35
Both are methods of proving if data is “true”
PoW is people using computers running equations, consuming electricity, doing work and showing people “I believe this is true, look how much work (resources) I put into it”. If the statement is false, the work is wasted, and trust is lost in that person.
PoS is when people put a lump of money (resources) into a reserve, and say “I believe this is true, I will stake my money (resources) on it being true”. If the statement is false, they lose money and trust.
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