Anyone who read about cryptocurrencies since the ICO boom or more could have learned that Ethereum is planning to abandon the PoW consensus protocol in favor of PoS. The knowledge of this planned transition was so habitual that some of us could hardly believe that Ethereum would adopt the PoS algorithm...

Bitcoin, Ethereum, and many other cryptocurrencies rely on the Proof-of-Work (PoW) algorithm. PoW is highly criticized for its environmental effects, impact on the GPUs market, and other reasons. No wonder another consensus algorithm has shown up. One of the most popular ones is Proof-of-Stake (PoS)....

Contents Proof of Work Proof of Stake Why does Ethereum want to switch to Proof of Stake? The difference between PoW and PoS Blockchain technology works on a consensus algorithm. It means that in a network of public blockchain different members or nodes reach a unanimous decision to agree...

Despite Bitcoin having been created over 12 years ago, the world of cryptocurrencies and blockchain technology is still a young, unexplored one. The 2017 Bitcoin boom has definitely increased the public opinion's awareness of the advantages of decentralized currencies, with many people starting to look...

All cryptocurrency assets can be divided into 2 types based on their operating principle: Proof of Work (PoW) and Proof of Stake (PoS). The concept of Proof of Stake (PoS) involves a type of mining, where instead of the computing power of the participants, you just need to store crypto assets in your...