Proof Of Work Vs Proof Of Stake In Crypto
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For instance, miner A stakes 30 coins, miner B stakes 50 coins, miner C stakes 75 coins, and miner D stakes 15 coins. Miner C would be given priority to write and validate the following block in this case. In contrast to the block reward in proof-of-work, Miner C will collect transaction fees, i.e., network fees. Furthermore, the network is kept secure because defrauding the chain would require a malicious actor to take over 51% of the network's computing power. If a blockchain gets forked in a proof-of-work system, miners must choose whether to move to the newer forked blockchain network or continue supporting the original blockchain. The miners who won the hash then broadcast it to the network, allowing other miners to check...