What are the advantages of proof of stake?

Question

What are the advantages of using proof of stake?

Answer 1

Proof of Stake (PoS) is a consensus algorithm used by many blockchain networks as an alternative to Proof of Work (PoW). The advantages of PoS include:

• PoS is significantly more energy-efficient than PoW because it doesn't require as much processing power. 

• PoS is thought to be more secure than PoW because attacks are 51% less likely to happen.

• PoS encourages decentralization by minimizing the concentration of power among a small number of people or organizations. 

•  PoS uses fewer processing resources than PoW, making it substantially more cost-effective. 

• PoS is more predictable than PoW since it does not encounter the same changes in block length and difficulty that are present in PoW. 

If you want to know more about proof of stake, then check out the below video for more information.