Consensation mechanisms are a key aspect of blockchain technology, allowing nodes in the network to agree on one version of the blockchain without relying exclusively on most voting. There are several consensual mechanisms in blockchain, each of which has its own strengths and weaknesses. In this answer, we will examine the differences between the work document (POW) and the proof of the share (POS), two prominent consensus algorithms.

Evidence of work (Pow)

Pow is the most widely used consensual algorithm in bitcoin and other cryptocurrencies such as Ethereum. Here is a simplified overview:

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• The solution is verified by the network : When the miner solves a riddle, it is transmitted to the net and its solution is verified by other nodes called “Hashing”.

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Miner is rewarded with new blocks of cryptocurrency : The first miner to solve the puzzle will reach a new block in blockchain and is rewarded with a newly raided cryptocurrency (eg Bitcoin).

Key characteristics Pow:

• High energy consumption: Miners require significant computational power, leading to high electricity costs.

• Energy demanding: The Pow Consensus has been criticized for its environmental impact as a result of the energy needed to solve complex mathematical puzzles.

• Centralized: The need for powerful computers and relying on centralized authority (mining funds) can lead to centralization of mining operations.

Evidence of Deposit (POS)

POS, also known as “proof-of -ld”, is an alternative consensual algorithm that has gained popularity in recent years. This is how it works:

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• Coins are transferred to the Fund : Each node contains a set of “deposits” of coins that represent their ownership share in the network.

• Miner is selected by a random selection

  : After creating a new block, the miner is randomly selected from the group of nodes with inserted coins.

Key characteristics POS:

• Lower energy consumption: POS requires significantly less computing force than Pow, making it more environmentally friendly.

• Decentralized: The network is decentralized and no single entity controls the result.

• Justice: In POS, the choice of miners is random, which can lead to a fairer division of mining remuneration.

Comparison between Pow and POS

|
function |
Pow (Bitcoin) |
After (Ethereum)

|

| — | — | — |

| Energy consumption high Low |

| Environmental impact criticized not so significant

| Centralization centralized mining pool decentralized network

| Justice random selection of miners random selection but with greater influence for large stajers

In conclusion, while Pow and POS are consensual algorithms used in blockchain networks, they differ significantly in terms of energy consumption, impact on the environment, centralization and justice. Pow is still widely used in Bitcoine, but its use has been reduced because other cryptocurrencies, such as Ethereum, have accepted POS. As the industry continues to develop, we can expect multiple nodes to adopt alternative consensus mechanisms that balance safety, decentralization and environmental sustainability.

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