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However, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-work-pow/">Proof-of-Work (PoW)</strong></a> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)</strong></a> are two of the most popular ones.</p>\n<p><strong>In comparison to</strong> <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-blockchain/">private blockchains</strong></a><strong>, a public blockchain provides more transparency and is more decentralized</strong> because anybody can join, and no one has authority over the entire system. Unfortunately, many public blockchains have slow transaction speeds and other scaling problems. Besides, a public blockchain is limited to only a few types of consensus mechanisms.</p>\n<p>However, private and public blockchains also have some similarities. 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It prevents fraudsters from acquiring control over projects (particularly their funding) without providing finished products to investors. Usually, cryptocurrency-based projects use PoD.</p>\n<p>Names, <strong>country of origin</strong>,&nbsp;social media handles, and personal email addresses are all stored in the PoD mechanism. Besides, the procedure entails checking the information and determining the developers' educational degree as well as their <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-github/">GitHub page.</p>\n<p><strong>PoD began in 2014 when</strong> crypto investors experienced losses as a result of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-pump-and-dump-pandd-scheme/">pump and dump schemes</strong></a>. In the digital currency sector, these are scenarios in which malicious investors or developers of coins artificially boost prices. When they see a high return on their investments, they dump (sell) them, causing <strong>the price to drop</strong>, which results in the loss of money for other investors.</p>\n<p>At a time when <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">initial coin offers (ICOs)</strong></a> were gaining popularity, PoD was developed. Some ICO issuers were merely looking to take advantage of naive investors. PoD allows investors to go beyond the flashy <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-roi/">ROI figures to discover if an <strong>ICO project actually has living, breathing developers</strong>.</p>\n<p>Furthermore, PoD helps to detect people who are simply copying and pasting other crypto codes and promoting them as their own original initiatives in order to attract investments.</p>","level":"easy","meta_title":"What is Proof-of-Developer (PoD)? 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Handbook Cover Page
Crypto Terms: Letter P

What is Proof-of-Stake (PoS)?

Proof-of-Stake (PoS) MEANING:
Proof-of-Stake (PoS) - a consensus mechanism used to ensure the blockchain's integrity.
Easy
1 minute

Let's find out Proof-of-Stake (PoS) meaning, definition in crypto, what is Proof-of-Stake (PoS), and all other detailed facts.

Proof-of-Stake (PoS) is another blockchain consensus process that ensures the blockchain's integrity in addition to Proof-of-Work (PoW). It essentially has a network of validators who have to stake native tokens of a certain blockchain to be able to validate and create new blocks. Validators get block rewards for their work.

By confirming blockchain transactions, PoS prevents the occurrence of double counting, which happens when the same token is used for more than one transaction. It’s quite easy to spot double counting in a centralized environment (e.g. a bank overseeing fiat money), but with decentralized systems (e.g. cryptocurrencies) it would be really hard to do without PoS or any other consensus mechanism for that matter.

Many experts believe that PoS is substantially more energy-efficient and secure than PoW, even though some skeptics challenge the validity of these claims. In fact, miners under PoW sometimes even need to sell their coins to pay for their energy bills. In terms of security, because of the structural way PoS ranks compensation, it is less prone to cyberattacks.
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