From the course: Practical Blockchain and Cryptocurrency

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Proof of stake (PoS)

Proof of stake (PoS) - Blockchain Tutorial

From the course: Practical Blockchain and Cryptocurrency

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Proof of stake (PoS)

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- Alright. In the previous lesson I talked about proof of work and some of the environmental concerns and problems with proof of work. I want to talk about proof of stake, but before I can talk about proof of stake, I need to talk about the Ethereum blockchain because the proof of stake is tied very closely to the Ethereum blockchain. So the Ethereum blockchain is another blockchain, very similar to the Bitcoin blockchain. It's a public distributed, decentralized community built technology. This blockchain was really designed around building blockchain applications. Now, Ethereum has gotten extremely popular, because of the Ethereum or Ether currency, but its main goal when it was first designed, and is one of the main benefits of Ethereum, is to allow for decentralized applications to work correctly in a decentralized, you know, blockchain. The Ethereum blockchain actually works very similar to the Bitcoin blockchain with nodes and this distributed ledger. Now in Ethereum, instead of…

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