Proof of Work vs. Proof of Stake
In this episode we look at Proof of Work vs. Proof of Stake.
There are two major camps when it come to securing cryptocurrency networks. One, is Proof of Work, or mining, in which high speed computers race to solve complex cryptographic problems. The winner gets rewarded with newly 'mined' coins.
The other is Proof of Stake. With PoS, users on the network have to put up, or 'stake' large numbers of coins to vie for the right to validate transactions and secure the network. If they do, the get a transaction fee as a reward.
We Chat About:
- What are the key differences
- Why it is important to understand them
- How this can affect Crypto moving forward
Links Mentioned In The Show
Buy Your Altcoins Here
- CoinBase - Supports AUD
- Independent Reserve - Supports AUD