Chapter
Proof of Work vs Proof of Stake
40:51 - 48:31 (07:39)
The key difference between proof of work and proof of stake is that proof of stake is an automated process that identifies specific participants, whereas proof of work requires human intervention to select specific participants. However, a potential drawback is the community's ability to coordinate if an attack occurs that requires choosing one of many minority forks.
Clips
The shortage of hard disks due to proof of hard disk mining has caused countries to shut down Bitcoin mining centres as they use too much electricity.
40:51 - 42:51 (01:59)
Summary
The shortage of hard disks due to proof of hard disk mining has caused countries to shut down Bitcoin mining centres as they use too much electricity. Proof of stake is more secure as to attack the system, you need to have as much stake as the rest network.
ChapterProof of Work vs Proof of Stake
Episode#188 – Vitalik Buterin: Ethereum 2.0
PodcastLex Fridman Podcast
The differences between proof of stake and proof of work in blockchain systems lie in the way they identify participants and the level of automation involved.
42:51 - 45:13 (02:21)
Summary
The differences between proof of stake and proof of work in blockchain systems lie in the way they identify participants and the level of automation involved. Attacks on proof of stake networks require a coordinated effort to revert a finalized block, but automatic slashing can help prevent many types of attacks.
ChapterProof of Work vs Proof of Stake
Episode#188 – Vitalik Buterin: Ethereum 2.0
PodcastLex Fridman Podcast
The ability to identify and prevent malicious miners is harder in proof of work, leading to potential for entire forks or taking out all miners, while in proof of stake, identification is possible but requires a large amount of stake.
45:13 - 48:31 (03:18)
Summary
The ability to identify and prevent malicious miners is harder in proof of work, leading to potential for entire forks or taking out all miners, while in proof of stake, identification is possible but requires a large amount of stake. Contradictory opinions exist among experts in both methods.