What is Proof of Work?

Proof of Work is common in most blockchains, it's where people's computers solve a complex math problem.

First computer to solve it gets to add the block to the blockchain.

Whoever adds the block to the blockchain gets to keep the fees and a certain amount of that cryptocurrency.

What is Proof of Stake?

In Proof of Stake, the computer that adds the block is randomly selected and you have to deposit a certain amount of a currency.

The computer that adds the block gets a reward, but if a computer has a malicious block it loses some of its staked eth.

The computers also get rewards for not having malicious blocks.

It gets a small amount of that currency every six minutes.

Pros and Cons of poS (Proof of Stake)

• Pro: It is more energy efficient than Proof of Work
• Pro: It lets everyone use it compared to Proof of Work needing expensive equipment
• Con: Less used than Proof of Work

Pros and Cons of poW (Proof of Work)

• Con: Uses lot's of energy; pollution
• Pro: Lot's of other currencies to base on
• Con: Need expensive equipment to mine

Note: This is based on the Ethereum Proof of Stake Blockchain.