How does proof of work (PoW) mining differ from other consensus mechanisms in the world of digital currencies?

1 answers

• Lauritsen CraftAug 08, 2021 · 5 years ago
  Proof of work (PoW) mining, as the name suggests, relies on miners providing proof that they have done the work required to validate transactions and add them to the blockchain. This work involves solving complex mathematical puzzles, which requires a significant amount of computational power and energy. On the other hand, other consensus mechanisms like proof of stake (PoS) or delegated proof of stake (DPoS) rely on validators who hold a certain amount of cryptocurrency to validate transactions. These validators are chosen based on their stake in the network, rather than their computational power. So, the main difference between PoW mining and other consensus mechanisms is the way in which miners or validators are selected to validate transactions and secure the network.
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