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RE: Finding Hidden Value in a New Community
Welcome to steemit. I am fairly new to the platform as well and trying to find a theme to focus my posts on. Could you ELI5 Proof-of-Stake theory and why you have an interest in it? From my understanding, the larger the transaction, the more difficult the encryption?
Proof of stake is an alternative that inverted the trick that rewarded effort with a coin. Instead of using a coin: whose value is proportionate to the system's, to reward the effort, PoS uses the coin instead of the effort. You ask around and you trust the message backed by the side with most coins.
The advantage of PoS is that it requires less effort and costs, by definition. The advantage of Proof of Work is that it's more inclusive as anyone who makes the effort may be rewarded with more coins.
I am interested in game theory and auction theory, and have been incorporating intuition derived from my studies in economics into Proof-of-Stake theory.