Proof of Stake vs Proof of Work: Which is better? (PoS vs PoW)

With the recent buzz 👾around the Ethereum Merge it’s most likely that you would have already come across words like consensus mechanism, proof-of-work, and proof-of-stake.🧠
But what is the meaning of these complicated words?😕 Well,
Proof of stake(PoS) and Proof of work(PoW) are the two most important and popular consensus mechanisms used by crypto projects✅. The number 1 crypto of the world,🦸 Bitcoin uses the Proof of Work consensus mechanism ever since it was launched in 2009.
Interesting Fact Check🤓: Bitcoin PoW worked just as well when BTC price was at $1 as it did when it reached above $60,000🤯. So we can say Proof of Work works pretty well.💪
#blockchain #crypto #consensus #ethereum
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Now Ethereum which is running🏃‍♀️ on Proof of Work lacked in certain segments like scalability and power consumption. Therefore, a new version of the Ethereum crypto asset was introduced to the world, Ethereum 2.0. The vision of ETH2.0/ETH2 is to make Ethereum more scalable, secure, and sustainable.💚
🚀Enters the biggest crypto upgrade of the year 2022, Ethereum Merge!😎 Ethereum Merge is a transition of the consensus mechanism from PoS to PoW which eliminates the need for energy intensive mining and makes the blockchain more energy efficient.🌟 #ReadytoEmerge
Interesting Fact Check🤓:This transition from PoW to PoS would bring about a 99.95% drop😲 in the consumption of energy that we see in Ethereum today. So is Proof of stake better than Proof of Work?
Okay now let’s not deep dive into the topic of PoS vs PoW in the description⚡, go watch this video till the end📹 to get a clear understanding on these consensus mechanisms along with a detailed comparative analysis of Proof of Work vs Proof of Stake!⚔️
Happy Researching!😊
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