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Ethereum’s Big Switch Explained: Why the Blockchain is Ditching Proof of Work and Adopting Proof of Stake Instead


https://perfectial.com

Recently, we posted a brief overview of the Ethereum ICO craze. Before that, we had reviewed how blockchains work in general.
Today, we’ll delve deeper into the process of mining.
In this article, we’ll introduce briefly the concepts of Proof of Work (PoW) and Proof of Stake (PoS). We’ll talk about why Ethereum, the second largest blockchain, is planning to switch the former for the later and share some forecasts as to the outcomes this decision might lead to.
Let’s get to it.

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Created by Galyna 2 days 6 hours ago – Made popular 16 hours 34 min ago
Category: Technology   Tags:

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