What is Proof of Stake - Explained in Detail (Animation) скачать в хорошем качестве

What is Proof of Stake - Explained in Detail (Animation)

Learn all about Proof of Stake in this animated masterclass that explains the concept in detail. ► Subscribe to learn more about blockchain: https://www.youtube.com/slance?sub_co... 00:00 Intro 00:13 What are Consensus Mechanisms? Proof of Work and Proof of Stake are both “consensus mechanisms,” which are methods for maintaining the integrity of a blockchain. Consensus is what solves the problem of "double-spending." If a cryptocurrency trader could spend coins more than once, the entire system would be jeopardized and susceptible to theft. 00:52 Proof of Stake Proof of Stake is similar to Proof of Work: both are used to attain consensus and keep the underlying blockchain secure. But there is one important difference: Proof of Stake requires far less work to validate data blocks and thus requires less energy. In Proof of Stake, there is no race amongst the nodes to validate a transaction. Instead, they now take part in a “lucky draw” whose winner is decided by the blockchain itself. The winner then validates the transaction and gets a much smaller reward for having consumed much lesser electricity. 02:02 How Proof of Stake Consensus Works: The Details The Proof Of Stake method selects a node to be the validator of the next block using a pseudo-random election process based on a combination of parameters such as staking age, randomization, and the node's wealth. As the Proof of Stake name implies, nodes on a network stake a certain amount of cryptocurrency in order to become candidates for validating new blocks and earning the fee associated with them. 04:39 Security of Proof of Stake The stake in Proof of Stake acts as a financial incentive for the forger node to avoid validating or initiating fraudulent transactions. 05:25 Features of Proof of Stake -Fixed Number of Coins: -Transaction Fees as rewards -Impractical 51% attack 06:34 Advantages of Proof of Stake -Energy-efficient -Truly decentralized 07:15 Disadvantages of Proof of Stake -Oligopoly with validators -The Nothing at stake problem #proofofstake #masterclass #slance