Proof of Stake - Simply Explained in Under 3 Minutes

in #threespeak5 years ago (edited)

▶️ Watch on 3Speak


Many people have been asking how proof of stake works, particularly in relation to Ethereum's planned transition from POW to POS.

Here's my attempt at explaining!

🧠 FREE CRASH COURSE - Learn to securely buy, store and sell cryptocurrencies:

https://louis-thomas.teachable.com/p/buying-bitcoin-crash-course

🧠 Want to get smart about crypto investing? Download my brain here:

https://louisthomas.co.uk/download-my-brain/


▶️ 3Speak

Sort:  

An excellent explanation for a lay person. You didn't get into any technical terms and kept it simple.

An excellent explanation for a lay person. You didn't get into any technical terms and kept it simple.

Good one Louis it was Simple yet informative

So by staking one is providing a lot more legitimacy to ethreuem? I basically had to rewatch again. Anyways it was down to earth explanation but I still find it difficult understanding it.

Its still somewhat confusing. What's the essence of staking?
Is staking say like Steempower?

Coin Marketplace

STEEM 0.21
TRX 0.20
JST 0.034
BTC 98833.06
ETH 3391.57
USDT 1.00
SBD 3.08