Proof of Work Vs Proof of Stake | Difference Between Proof of Work & Proof of Stake | Intellipaat
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In this video, we will explore the two most popular consensus mechanisms used by blockchain networks, Proof of Work (PoW) and Proof of Stake (PoS). Both these mechanisms serve the same purpose of achieving consensus in a trustless environment, but they differ in their approach and implementation.
We will start by diving into the technicalities of both mechanisms, discussing how they work and how they differ from each other. We will also explore the advantages and disadvantages of each mechanism, including the energy consumption of PoW and the potential centralization of PoS.
Furthermore, we will also discuss the practical implications of these mechanisms, including the impact on network security, transaction speed, and decentralization. We will also explore how various blockchain projects have adopted either of these mechanisms and the factors they considered while making that decision.
Whether you are a seasoned crypto enthusiast or just getting started, this video will provide you with a comprehensive understanding of Proof of Work and Proof of Stake, their differences, and their practical implications. So, sit back, relax, and join us on this journey into the world of blockchain consensus mechanisms!
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🔵 Following topics are covered in this session:
00:00 - Introduction
01:22 - What is Proof-of-Work?
02:49 - What is Proof-of-Stake?
03:56 - Benefits of Proof-of-Work and Proof-of-Stake
06:49 - Cons of Proof-of-Work and Proof-of-Stake
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