Baselayer for Web 3.0
Proof-of-Stake network facilitates the provision and maintenance of infrastructure which serves as the base layer for Web 3.0 in a distributed fashion. They allow token-holders to make contributions to network security and receive rewards.
Limitations of Proof of Work
Proof-of-Work, a groundbreaking invention, helps to align incentives in a decentralized network made up of unknowing and even untrusting participants. It powers Bitcoin and triggered a wave in innovation in the blockchain space.
It is however not very scalable or sustainable and therefore not suitable to power large networks. The energy required to sustain the Bitcoin network is equal to that of whole countries like Switzerland.
Evolution to Proof of-Stake
Proof-of–Stake is a viable alternative to Proof–of-Work. It provides greater security, greater throughput and quicker finality, while using far less energy to maintain the network. Many next-generation blockchains use PoS. Ethereum, which is the second largest Blockchain market capitalization, recently made the switch to PoS with the Beacon chain.
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