Proof of stake

From Simple English Wikipedia, the free encyclopedia

Proof of Stake (PoS for short) is a process that a blockchain network uses to reach a consensus about which participant is allowed to generate the next block. A weighted random selection is used, whereby the weights of the individual participants are determined based on the duration of participation and/or assets (the "stake"). In contrast to the Proof of Work used with Bitcoin, Proof of Stake does not require time- and energy-intensive mining and it is not possible to take over the network simply by owning computing power ("51% attack").[1][2]

References[change | change source]

  1. Tasca, Paolo; Tessone, Claudio J. (2019-02-15). "A Taxonomy of Blockchain Technologies: Principles of Identification and Classification". Ledger. 4. doi:10.5195/ledger.2019.140. ISSN 2379-5980.
  2. "Ethereum founder Vitalik Buterin says long-awaited shift to 'proof-of-stake' could solve environmental woes". Fortune. Retrieved 2022-10-11.