Return to Consensus Mechanism

Proof of Stake is the most basic and environmentally-friendly alternative of PoW consensus protocol.

In this blockchain method, the block producers are not miners, but they act like validators. They get the opportunity to create a block over everyone which saves energy and reduces time. However, for producers to become a validator, they are supposed to invest some amount of money or stake.

Also, unlike that in the case of PoW, miners are provided with a privilege to take their transaction fees in this algorithm for there is no reward system in this consensus model.Webpage: BHARDWAJ