What Is Proof of Work & Proof of Stake?
If you’ve been following crypto and the headlines around energy consumption, you’ve probably heard about Proof of Work (PoW) and Proof of Stake (PoS), but what are they?
In this FSI video guide, we’ll answer the most common questions surrounding the two most prevalent consensus mechanisms, including:
- What is a consensus mechanism?
- What is Proof of Work (PoW)?
- What are miners and mining pools?
- What is Proof of Stake (PoS)?
- Does Proof of Stake (PoS) require less energy consumption?
- What are the advantages and disadvantages of each?