Blockchain Consensus Algorithms (part2): Proof of Work & Proof of Stake

Описание: 💡 About the energy dynamics of the blockchain: While Nakamoto's 'proof of work' mechanism ensures maximum security, it has drawn critiques due to its energy consumption. To give perspective, Bitcoin's energy use is estimated to be half of what YouTube uses and half of what traditional gold mining consumes. Yet, as society debates its worth, alternatives like 'proof of stake' have emerged, offering less energy-intensive methods. Ethereum, the second-largest cryptocurrency, migrated to this system in 2022, heralding a new era of efficient consensus mechanisms.
📚 Quick Lesson: While 'proof of work' guarantees blockchain security, the evolution towards more energy-efficient methods like 'proof of stake' showcases the industry's commitment to sustainability.
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See the full lectures here:
   • DTSC: 4.7 What are some Blockchain applica...  

This snippet is taken from the 2023 version of the University of California online course called "Digital Technology & Social Change".

The lecture content can be found here on this channel:
   • Digital Technology & Social Change: 2023 o...  

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https://uconline.edu/

The Open Online Version consists of a Specialization that grants an official Certificate (it also includes hands-on labs), and can be found here: https://www.coursera.org/instructor/m...