MultiversX Tracker is Live!

How is ethereum mined?

Etherum Reddit

More / Etherum Reddit 162 Views

So from my understanding, bitcoin is mined by PoW which is basically a mass brute force attack by miners to guess a random hash value, when this value is guessed, the block is validated and you are awarded BTC.

Now with ethereum, it is a proof of stake system rather than proof of work. When you are staked and selected as the transaction validator, what is the process used to validate this block? Are you still trying to guess hash values? If so why is this a better choice if you still have to waste energy to brute force the password (hash value) of these blocks?

Validator selection process aside, what is the difference between processing a block on a PoW system vs a PoS system?

submitted by /u/Pringle_Chip
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments