Why is proof of stake considered a more energy-efficient consensus mechanism than proof of work in the realm of cryptocurrencies?

1 answers

• May 02, 2022 · 3 years ago
  Proof of stake is widely regarded as a more energy-efficient consensus mechanism compared to proof of work. In proof of stake, validators are selected to create new blocks based on the amount of cryptocurrency they hold, rather than competing to solve computational puzzles. This eliminates the need for energy-intensive mining activities and reduces the overall energy consumption of the cryptocurrency network. By transitioning to proof of stake, the industry aims to address the environmental concerns associated with proof of work and promote a greener and more sustainable approach to cryptocurrency mining.
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