Crypto Academy Season 4 Beginners' course - Homework Post for Task 6 by @ghulamabbassss

4개월 전

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Good day, everyone! Professor @sapwood, thank you for the class and for sharing information that helped me finish this project..

Let's Start

(2) What is the difference between PoS &DPoS? Advantages & Disadvantages? Which one is better in scaling Capacity? Examples?

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What is the difference between PoS & PoS?

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Proof-Of-StakeProof-Of-Work
Block validation is employed; it does not necessitate the usage of a mining rig, and miners are paid in transaction fees.In this that The miners solve a mathematical challenge and do calculations, which is referred to as mining. The first miner to complete the calculations is paid.
It is more efficient in terms of energy.It's not a efficient in terms of energy.
They are less secured.They are the more secured.
The miners are chosen based on the amount of money they have staked.The miner will be chosen based on who has the most powerful hardware.

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What is Advantages & Disadvantages of Proof-Of-Work?

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Proof-Of-Work

AdvantagesDisadvantages
They are more securedthey are the less energy efficient
It can build on decentralized systemIt is limited in scaling capacity and consume more energy
It is hard to attack because is under a blockchainIt is more costly
It a is not faster than PoS.

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What is Advantages & Disadvantages of Proof-Of-Stake ?

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Proof-Of-Stake

AdvantagesDisadvantages
It does not need any calculationsThey are less secured
The higher your stake the more you have higher chance of winningThey are not on decentralized network
They are more energy efficientIt is (centralized)
It is offers more rewardIn this only one person have higher chance of winning
It is not centralized

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Which one is better in scaling Capacity?

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Proof-Of-Stake (PoS) has a higher scaling capability than Proof-Of-Work (poW) since it uses less energy to attract stakeholders and allows miners to deposit their own coin on a block rather than checking transactions on the block. However, in Proof-Of-Work(PoW), only the winner receives a reward, and it requires some calculation puzzles to validate transactions, which miners dislike because solving the puzzle requires a high level of efficiency and skill. This reduces the scalability of (PoW), whereas (PoS) does not require any calculations.

Some cryptocurrencies that use Proof- of- Stake are listed below..

  • 1.BNB
  • 2.Akash Network
  • 3.ETH 2.0 etc.

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Conclusion

The consensus methods described are some of the most widely used; however, if new bets emerge, others will join an important coin and be included to this list. As they become more centralised, established consensus algorithms are distinguished by their scalability. Scalability has an impact on cryptocurrencies' ability to become an international payment system. New algorithms will be developed in the future that are safer, faster, and have greater scalability, allowing programmers and cryptocurrency to work more efficiently.

😍Thanks for your time😍

Regard by

@ghulamabbassss

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You are already labeled as task 6. So no need to do it again. if you have completed task 4 of fixed courses in season 3 You do not need to do task 6 in this season.

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Thank you for your guidance. But I really didn't understand . What I can do in season 4 . How many Left my introductory post . Can you tell me..!