Proof of Work vs Proof of Stake – Which one is taking us in which direction?

Assalamu Alaikum everyone! I hope everyone is well by the grace of Allah. Today's topic is very important for those of you who are regularly interested in blockchain or cryptocurrency. Again, it is very important for those who are new to it to know the topic. Today we will try to understand very simply — what is proof of work (pow) and proof of stake (pos)? How do they work, what is the difference between them?

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You can't get everything just by dreaming, right? To make your dreams come true, you have to work hard, plan. And in the world of technology, some people have dreamed of something that is changing the face of our lives like Bitcoin, Ethereum, etc. And the brain behind this digital coin is blockchain, and blockchain runs according to some rules like proof of work or proof of stake.

Just consider this: you must match the password to open a locker. Similar to this, thousands of computers compete to find solutions to challenging mathematical puzzles in Proof of Work. Coins will be awarded to the machine that solves the issue first and adds the transaction to the block.

This method takes a lot of energy (electricity), takes a lot of time, but the security is very strong. Bitcoin works in this way.

• A lot of energy is consumed.

• Security is high.

Here, no computer has to solve mathematical problems. Instead, someone is randomly selected from those who have more coins to create a block. The one who has more coins has a higher chance.

It uses much less energy and works faster. Currently, Ethereum also works in this way.

• Low energy consumption.

• High speed.

• Security is good, but there are some controversies.

• Let's put it simply — as with work, so with technology.

• Where security is the biggest issue, Proof of Work is good.

• And where speed, environmental awareness and low cost are needed, Proof of Stake is effective.

Technology is always moving forward, and those of us who are interested should understand and learn these things slowly. Proof of Work and Proof of Stake — these are not competitors to each other but two different perspectives. One dreams, the other tries to easily turn that dream into reality. The importance of these two methods is immense in the technology we are moving towards.

So friends,I am ending here today with the hope that everyone will be well, healthy and will be companions on this journey of acquiring knowledge. If you like it, please leave a comment.