Part 4: What Is Proof-of-Stake (PoS)?
What Is Proof-of-Stake vs. Proof-of-Work?
The difference between Proof-of-Stake (PoS) vs. Proof-of-Work (PoW) is that PoS applies a random assortment of validators to confirm each transaction, creating new blocks. At the same time, PoW uses what's known as a "competitive" method to confirm each transaction and create new blocks.
Is Proof-of-Stake a Certificate?
PoS uses what's known as a "consensus" mechanism, which is where the crypto validators share the responsibility to confirm the transaction; at the moment, there aren't any certificates that are being issued.
How Do You Earn Proof-of-Stake?
PoS has its internal consensus mechanisms, all of which are used by the blockchain. The PoS can't be earned, but users can help secure the network by earning rewards by using different crypto tokens participating in the PoS validation process.
Can Bitcoin Be Converted to Proof-of-Stake?
While it's possible for Bitcoin to change to a PoS system, this will take years to implement. The broader community would also need to agree upon this new change.
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