It's sad the comparison of PoW and PoS are made with equivocations to (Coke or Pepsi, and Ford or Chevrolet). The proper comparison would be Bitcoin's Sha256 Hash vs another Hashing Algorithm. The proper comparison to Eth's PoS would be a Fiat Currency.
This doesn't explain proof of stake in general. Cardano doesn't need smart contracts for their version of proof of stake nor do they have "slashing" where you can lose your tokens because your turns stay in your custody and are never locked up anywhere. There is no unlocking period
So, basically, Proof of Work and Proof of Stake both could easily become centralized when rich people really want it. But PoS has an advantage: it doesn't waste high-tech hardware and electricity.
POS literally is a centralised system. The people who are “chosen” to build the next block are picked by some algorithm made by the entity who made the POS system. Whereas with Bitcoin, no one chooses the next person to make a block. It’s purely based on who does the most work. Hence no central body choosing or picking anything
@@waleedehsan2307 wait really? I'm watching a third video already and all of them don't make this part clear. How exactly do the validators know if the random "winner" fair?
@@AbsoluteHuman They don’t. They are just trusting that the central body who makes the algorithm is acting fairly. Randomness can’t be simulated, they just try their “best effort” at making it random. Proof of stake by nature is not a decentralised system
@@waleedehsan2307 that's horrible if true. And here I thought that there's a clever solution I'm not aware of... That really isn't a true crypto currency at all it seems, just normal money with extra steps! I mean, why even try then?
It is possible to mine in an ecological way without consuming energy, in a renewable way, the big difference between POW and POS is that the first is decentralized and secure and POS is centralized by a few and insecure, it can be hacked and CEOs can forks and perform changes to have their own benefit is a total lottery you do not have any type of security
Why do the validators need to lock anyones money up in form of a stake? Also why would I want to have my money locked up? What is the point of locking it so no one can use the money?
Proof of work… nobody I know could afford enough ETH to be a validator. All my friends have graphics cards for gaming to mine ETH so in theory it’s more decentralized
but proof of stake have some problems if the person will invest their money and they lost it so what should he do i mean that crypto can't be recover (money) i think proof of work is great for us but we need to use solar energy or wind energy in off grid not a on grid personal one one time investment.
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I think this is were core comes
She solves the two proof of work and proof of stake
Core dao to the moon
great vid and very easy to understand!
Glad you liked it!
that's good 😊😊
Well and clearly explained! Great job
I would like to learn more about these cryptocurrency processes
I hope for the emergence of photonic technologies that will allow us to produce proof using the energy of the Sun.
POW all the way, pure without any politics.
Presentation is very corny, but info is on point
how to cooperate with you?
❤❤❤❤❤
LIKE & COMMENT FOR THE ALGORITHM!
It's sad the comparison of PoW and PoS are made with equivocations to (Coke or Pepsi, and Ford or Chevrolet).
The proper comparison would be Bitcoin's Sha256 Hash vs another Hashing Algorithm.
The proper comparison to Eth's PoS would be a Fiat Currency.
Good
MINING IS A GOOD FOIR ME BUT NOW I THINK LOOOSE NOT STAKE AND 70% OF PEOPLLE NOT STAKE TO EARN AND GO TO MIINE OTHER CRYPTO!
always proof of work, POS is as its named a POS system (piece of shtt)
This doesn't explain proof of stake in general. Cardano doesn't need smart contracts for their version of proof of stake nor do they have "slashing" where you can lose your tokens because your turns stay in your custody and are never locked up anywhere. There is no unlocking period
With the consensus wars, Peercoin (Pioneer of Proof of Stake) will move to the Top-10 again after years. it's a Dino crypto like Doge.
Hal Finneys name isnt even spelled right
🥰💞
ผมตะถอนเงินได้อย่างไร และเชื่อมต่อkycยังไงครับผมมีเงินมาแต่ถอนไม่เป็น
So, basically, Proof of Work and Proof of Stake both could easily become centralized when rich people really want it. But PoS has an advantage: it doesn't waste high-tech hardware and electricity.
POS literally is a centralised system. The people who are “chosen” to build the next block are picked by some algorithm made by the entity who made the POS system. Whereas with Bitcoin, no one chooses the next person to make a block. It’s purely based on who does the most work. Hence no central body choosing or picking anything
@@waleedehsan2307 wait really? I'm watching a third video already and all of them don't make this part clear. How exactly do the validators know if the random "winner" fair?
@@AbsoluteHuman They don’t. They are just trusting that the central body who makes the algorithm is acting fairly. Randomness can’t be simulated, they just try their “best effort” at making it random. Proof of stake by nature is not a decentralised system
@@waleedehsan2307 that's horrible if true. And here I thought that there's a clever solution I'm not aware of... That really isn't a true crypto currency at all it seems, just normal money with extra steps! I mean, why even try then?
imbulya
It is possible to mine in an ecological way without consuming energy, in a renewable way, the big difference between POW and POS is that the first is decentralized and secure and POS is centralized by a few and insecure, it can be hacked and CEOs can forks and perform changes to have their own benefit is a total lottery you do not have any type of security
🎉
Why do the validators need to lock anyones money up in form of a stake? Also why would I want to have my money locked up? What is the point of locking it so no one can use the money?
Too much talk less explanation…
Thanks Fam😇
Genial.
Proof of work… nobody I know could afford enough ETH to be a validator. All my friends have graphics cards for gaming to mine ETH so in theory it’s more decentralized
You need more than two or three graphics cards to be a miner. It's not rentable
but proof of stake have some problems if the person will invest their money and they lost it so what should he do i mean that crypto can't be recover (money) i think proof of work is great for us but we need to use solar energy or wind energy in off grid not a on grid personal one one time investment.
POW
pow or gtfo
😎
lol the block at 1:38 says 'minnig'
Nice catch ;)
Or 0:39 hal finneys name is spelled wrong
Thank's cmc 💙