Step by step guide to understanding Proof of Stake consensus algorithm
Proof of Stake (PoS) is an alternative consensus algorithm to the widely used Proof of Work (PoW) protocol. PoS has been gaining popularity because it is more energy-efficient and provides higher security compared to PoW. In this comprehensive guide, we will delve into the world of PoS and explain its workings step by step. We will also explore the advantages of adopting PoS and mention some popular implementations of this consensus algorithm, including Ethereum’s Casper Protocol, Cardano’s Ouroboros Protocol, and Tezos’ Liquid Proof of Stake.
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