Hello Guys,

How are you all my friends? I hope you all are well and happy. My name is @tasmiya today I am here to present to participating post in the Steemit Engagement Contest. Today our topic is Blockchain through the concepts. Today's topic is very interesting. So let's start our work.

source

Tell us about your favorite concept or term related to blockchain, try to be explanatory and make sure to give your opinion. (For example: Decentralized, Genesis Block, Hard Fork, Proof of Stake.)

There are many other concepts related to blockchain technology and the subject I chose is Proof of Stake. I will tell you about this topic. Proof of Stake (PoS) is a very interesting topic of Blockchain. And it's also my favorite topic. That's why I chose this topic.

image source
Proof of Brain is a consensus mechanism that is used to make transactions and creates blocks in a Blockchain. A consensus mechanism is a method to distribute data to validate entries and to store and secure the database. So we can say that in the language of crypto currency a database is called a Blockchain, so consensus mechanism secure Blockchain.

Proof of Stake (PoS) is a Blockchain consensus mechanism in which a native currency holder has staked on Blockchain. Whenever a transaction is made on Blockchain, an approval is sought to view the transaction process as valid. Proof of Stake consensus mechanism is that People holding currency and required to act as authenticators for blockchain transactions. Validators are those people who give approval of transactions to finalize the record of the public ledger of Blockchain.

In the proof of stake (POs) consensus mechanism block validators are selected based on his money on he asset that an individual to stake in the Blockchaim. Simply we say that validates are selected based on tokens staked. The persons that have large amount of tokens they became validators and other are nor because they have not a large amount.

We can see that Proof of Stake (POs) is very simple and straight forward, but the issue is that powers are leaving the hands of high stakes. Proof of Stake is very simple and easy then the Proof of work it does not require large hardware to perform its tasks and operations. The validates of block get rewarded on the basis of transactions. For this purpose most users want to become part of Validatiors of the block. In the Proof of Stake rewards are given to validators based on tokens they stake and in Proof of Work, the only those persons rewards first who validate the block first.

Why do you think it is important in the Blockchain?

Proof of Stake (PoS) is very important in blockchain because it helps maintain the integrity of Blockchain. Proof of Stake (PoS) prevents manipulation in many places in transactions. Before verifying any transaction, it is added to the block of list transactions. In this verification process is done by the validator based on the amount token stake this is done to make platform transparent.

The main reason of Proof of Stake is to transfer power from a few hands to more hands. All users who have invested are basically equal in the Blochchain. On this platform no one here is bigger than the other because they all are selected to become validators by the system.

In the blockchain validators are very careful and do their good job because their assets which are staked is at risk if any form of manipulation is noticed. This helps to make transactions transparency and scalability. The validation process in Proof of Stake is very easy because the user does not give their content for the transaction validation.

There is another major purpose of the Proof of Stake (PoS) mechanism is that no money is required to purchase good hardware. This prevents us from buying more devices. That is, the great advantage of it is that we can save our assets. That's why I like to Proof of Stake(PoS)

Do you think that the existence of the Blockchain would be possible without this concept? Is there an alternative or similar term?

The alternate of Proof of Stake (PoS) is Proof of Work(PoW). Proof of Stake (PoS) has some feature in blockchain and Proof of Work (POW) commonly is used in Blockchain. Cryptocurrency like Bitcoin also used Proof of Work (PoW) mechanism. We can say that without the Pos (Proof of Stake) blockchain is less secure and scalable. With the help of Proof of Stake in blockchain data stored is at risk of modification and changed.

Proof of Work (PoW) is an algorithm that secures the security of the Blockchain. Both systems Proof of Stake and Proof of Work has been existence for a long time. There are many cons and pros of these systems. Now Proof of Work is a very popular Blockchain. Proof of Work, Proof Of Capacity and Proof of burn are alternative and similar term that are associated with Proof of Stake (PoS). These are different systems, but performing the same functions like Proof of Stake.

Do you think it is possible to improve this term in some way? Explain us how

The different consensus algorithm system is used by different blockchain's. As we discussed above, some security measures need to be taken in Proof of Stake. Hackers have repeatedly attacked nodes that a big problem to blockchain. There is a huge security issue. This requires a strong security system to prevent such attacks in the future. That way we would be safe from a lot of losses.

We can see that most successful blockchain Bitcoin adopting the Proof of Work. Proof of Stake is to add new features and functions to improve the efficiency and capacity and add security to improve its growth. There are many more steps we can take to address the shortcomings or Proof of Stake.

It is possible to improve Proof of Stake and it consumes less energy and that's where it all begins. If people's protection and stake concerns are met and further develops to use it. And transactions for all users will be faster and cheaper because it is a very good thing for all users.

Conclusion

Proof of Brain is a consensus mechanism that is used to make transactions and creates blocks in a Blockchain. A consensus mechanism is a method to distribute data to validate entries and to store and secure the database. In this validators are taken on the basis of tokens. It will get better if we make some improvements. I hope I have been able to tell you my point. Thanks for reading my post.