Proof of Work vs Proof of Stake

▻https://hackernoon.com/proof-of-work-vs-proof-of-stake-78fac56933c7?source=rss----3a8144eabfe3-

Graphical Image of Proof of Work and Proof of StakeRecently you must have heard about the idea to take a move from an Ethereum consensus based on the #proof-of-work system to one which is based on the so-called Proof of Stake.Understanding Proof-of-WorkAs the name implies, Proof of Work is the validation of the work which happened and proving that it is correct. Bitcoin and many other altcoins follow this method of consensus to ensure the good authenticity of the chain of blocks.How Does It Work?In order to understand how PoW works in laymen terms, consider that you are in a math exam sitting with other students in a classroom. The student who can’t just come up with the correct answer but also can reach with the complete proof of arriving at the correct answer gets the reward first.Now, (...)