The Ethereum Merge | Consensus Mechanism Explained: What Would Happen If PoW is Replaced by PoS?

What is PoW?

As its name implies, PoW (Proof of Work) is the proof of workloads, and the essential principle of PoW is that whoever works more gets more. PoW describes a system that requires participants to solve a difficult but easily verifiable problem to win the right to update blocks and reach a consensus.

What is PoS?

The rationale of PoS (Proof of Stake) is similar to the shareholding system in the real world. The more shares one holds, the greater a say he will have, and he will also be more likely to win the block updating right.

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