It was 2017 when we made our way into the world of blockchain as mere freshers. Over the last five years, we have learned, experienced, and implemented this technology in varied capacities. Today, with a practical understanding of blockchain concepts, we are ready to take you on a journey of learning this technology from scratch and help you open up several unexplored avenues in your career path.
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However, we understand that blockchain has still not been able to normalize itself across industries. Despite, its tremendous potential of optimizing business operations and delivering convenience to individual users, the technology has not yet been implemented on a large scale.
We are a team of seasoned blockchain experts who are passionate about sharing their knowledge with curious learners like you.
What is Proof of Work?
Proof of Work is a consensus algorithm in blockchain technology using which miners confirm and add transactions to blocks. Based on the scale and accuracy of this activity, miners are rewarded. Hence, this mechanism is called proof of work.
What is Proof of Stake?
Proof of Stake is a consensus protocol in blockchain technology that selects miners/validators of transactions based on the relevant cryptocurrency holdings that they possess. For example, a miner with a large amount of BTC stock/holding in the Bitcoin blockchain will get the chance of validating transactions and will be rewarded accordingly.