Proof of Stake PoS is absolutely replacing Proof of Work in cryptocurrency blockchains, and it has a huge impact on DeFi decentralized finance! Let’s review PoW vs PoS vs DeFi! Subscribe to VoskCoin here! http://voskco.in/Sub
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I’m a huge fan of cryptocurrency mining, which all revolves around Proof of Work PoW. I cannot deny the fact that countless new cryptocurrency blockchains and projects have launched, quickly surging into the top 100 cryptocurrencies when ranked by marketcap and only a couple mineable cryptocurrencies (PoW) have done the same. PoW aka crypto mining requires people to learn more about the crypto coin, its mining algorithm, what hardware can mine it, and how to set up the mining software and hardware to mine it. This is challenging and incredibly rewarding, from an experience and knowledge point of view as well as the financial incentive. Proof of Stake and simply non PoW blockchains are much simpler, pretty much you download a specific cryptocurrency wallet and then you can begin staking your coins earning passive income. Earning passive income staking and lending cryptocurrency is incredibly easier than mining cryptocurrency, and sometimes the profitability is similar or even better on staking/masternode coins. In this video I will explain what is Proof of Work, hashcash, and just mining in general. I will also explain what Proof of Stake PoS is, and how staking is a different consensus mechanism for cryptocurrency blockchains. I will also review how Proof of Stake PoS will impact DeFi decentralized finance, especially in regards to PoS Ethereum 2.0 and their DeFi ecosystem. If ETH 2.0 happens and Ethereum moves from mining to staking, it will be possibly the biggest change in the history of cryptocurrency, definitely from a passive income in crypto point of view.
Sunny King introduces Proof of Stake PoS Bitcointalk - http://voskco.in/uJqH
The original Bitcoin BTC whitepaper - http://voskco.in/btcwp
How does crypto.com make their money? - http://voskco.in/cEDO
Proof of Work vs Proof of Stake review - http://voskco.in/0hlD
Ethereum 2.0 ETH PoS and DeFi Decentralized Finance - http://voskco.in/mjt9
Coinmarketcap ranks crypto coins by market cap - http://voskco.in/cmc
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