Proof-Of-Work Is Objective, Proof-Of-Stake Is Not

Alan Szepieniec holds a PhD in post-quantum cryptography from KU Leuven. His research focuses on cryptography, especially the kind of cryptography that is useful for Bitcoin.

Proof-of-stake is a proposed alternative consensus mechanism to the proof-of-work that Bitcoin’s consensus mechanism uses. Instead of requiring the consumption of energy, proof-of-stake requires miners (usually called validators) to put digital assets at stake in order to contribute to the block production process. Staking incentivizes them to behave honestly, so as to avoid losing their stake. In theory, with only honest validators, the network will quickly come to consensus about the order of transactions and, therefore, about which transactions are invalid double-spends.