A lot of cryptocurrencies, are switching from POW mining to POS. What is the difference?

10 000 question challengeCategory: Core Blockchain DevelopmentA lot of cryptocurrencies, are switching from POW mining to POS. What is the difference?
tokenh6_wp Staff asked 10 months ago
1 Answers
tokenh6_wp Staff answered 10 months ago

The main difference is that POW generates income for miners through building blocks of transactions (and one miner gets the reward for the built block) while POS offers miners some kind of transaction fee. To get better understanding of technical details, click the following link.
 
https://blockgeeks.com/guides/proof-of-work-vs-proof-of-stake/