The Pros and Cons of “Proof of work” and “Proof of Stake” - Crypto in Plain English – Episode 21 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it26 Loka 2021

The Pros and Cons of “Proof of work” and “Proof of Stake” - Crypto in Plain English – Episode 21 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Today we talk about the pros and cons of ““Proof of work” and “Proof of Stake”

There are a few things that you’d want from a payment method and amongst them are quick processing, and low transaction costs.

Imagine buying a coffee on your break and the line is out the door, because everybody has to wait at the counter for 5 minutes before their credit card transaction goes through. And when it goes through, you end up paying 60 dollars in processing fees for a 3 dollar coffee.

The disadvantage of “proof of work” is exactly that. The network is less likely to handle lots of transactions at the same time, because those math puzzles require time and energy to solve. Currently, Bitcoin can only process 7 transactions per second for example, and likewise paying 50 dollars for one on Ethereum isn’t unusual.

“Proof of work” solves that. No puzzles to solve means just crunching transactions, and computers are really good at that because it is so simple. The only downside here is that you won’t be able to mine coins – meaning validate in this case – if you don’t have a substantial amount in your holding already.

And next time, we’ll talk about these differences between paying with crypto and your good old Credit Card.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Jaksot(373)

What is DeFi? Part 1 of 2 - Crypto in Plain English - Episode 37 - by cryptohunt.it

What is DeFi? Part 1 of 2 - Crypto in Plain English - Episode 37 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today and tomorrow, we’ll dive into the world of DeFI, short for “decentralized finance”, where block...

17 Marras 20211min

What are Crypto ETFs? - Crypto in Plain English - Episode 36 - by cryptohunt.it

What are Crypto ETFs? - Crypto in Plain English - Episode 36 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: What are crypto ETFs? You always know that things are going more mainstream when the media tal...

16 Marras 20212min

How do crypto scams work? - Crypto in Plain English - Episode 35 - by cryptohunt.it

How do crypto scams work? - Crypto in Plain English - Episode 35 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: How do crypto scams work? Whenever there is money involved, scammers are not far away. In cryp...

15 Marras 20211min

How do you know if a token is a good investment? - Crypto in Plain English - Episode 34 - by cryptohunt.it

How do you know if a token is a good investment? - Crypto in Plain English - Episode 34 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: How do you know if a token is a good investment First things first! This is not investment adv...

12 Marras 20211min

How to learn more about Crypto - Crypto in Plain English - Episode 33 - by cryptohunt.it

How to learn more about Crypto - Crypto in Plain English - Episode 33 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: How to learn even more about crypto. This is episode 33 of “Crypto in plain English” and if yo...

11 Marras 20211min

What is a fork? - Crypto in Plain English - Episode 32 - by cryptohunt.it

What is a fork? - Crypto in Plain English - Episode 32 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today we tell you what a fork is. You might have heard the term “fork” recently, especially since Eth...

10 Marras 20211min

What is a Crypto Faucet? - Crypto in Plain English - Episode 31 - by cryptohunt.it

What is a Crypto Faucet? - Crypto in Plain English - Episode 31 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, we explain crypto faucets. Crypto faucets are wallets that automatically give away small amoun...

9 Marras 20211min

What is an Airdrop? - Crypto in Plain English – Episode 30 - by cryptohunt.it

What is an Airdrop? - Crypto in Plain English – Episode 30 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today, we explain airdrops. It's quite literal - airdrops happen when owners of a token distribute it...

8 Marras 20211min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
rss-rahapodi
psykopodiaa-podcast
herrasmieshakkerit
rss-rahamania
ostan-asuntoja-podcast
hyva-paha-johtaminen
rss-sami-miettinen-neuvottelija
rahapuhetta
rss-lahtijat
rss-doulapodi
rss-paasipodi
juristipodi
rss-sisalto-kuntoon
rss-muutoksenanatomiaa-podcast
rss-startup-ministerio
rss-uppoava-vn-laiva
rss-bisnesta-bebeja
rss-seuraava-potilas