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Crypto Speak: PoS
We've talked about Proof of Work (PoW) before, now let's discuss Proof of Stake (PoS).
Proof of Stake (PoS) is a consensus mechanism used in blockchain networks to validate and confirm transactions. In a PoS system, validators are chosen to create new blocks and secure the network based on the number of coins they hold and are willing to "stake" as collateral.
Validators take turns proposing and validating new blocks, with the chance of being chosen to create a new block being proportional to the amount of cryptocurrency they hold and are willing to stake.
PoS is considered more energy-efficient than Proof of Work (PoW) and is used by blockchain networks such as Ethereum 2.0, Cardano, and Tezos.
