Proof of Stake vs Proof of Work vs Proof of Authority
Proof of StakeThe Proof of Stake (PoS) consensus model was proposed in 201... More (PoS) depends on a validator’s economic stake in the network. It is framed as more environmentally friendly because it does not depend on an external energy intensive process like Proof of WorkProof of Work (Pow) is a consensus model in blockchain techn... More (PoW) does. There is no block rewardA block reward is the reward a miner gets for solving the cr... More in PoS. To conduct a 51% attackA 51% attack is an attack in which malicious actors gain con... More, you would need to control 51% of the total stake. In proof-of-work, you would need more than 51% of the total hash power. Proof of AuthorityThe Proof of Authority (PoA) consensus mechanism relies on v... More is a variant of the Proof of Stake consensusConsensus is a mechanism to achieve the necessary agreement ... More mechanism where instead of tokens, network participants stake their identity and reputation.
Note: These are non-technical definitions meant for a general audience and should not be used as legal definition