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What is PoS?

What is PoS?

Proof of Stake (PoS) is a consensus mechanism designed to address some of the shortcomings of Proof of Work (PoW). In a PoS system, instead of miners competing to solve a complex math problem to verify transactions and add new blocks to the blockchain, validators are chosen based on the amount of cryptocurrency they "stake" in the network. Validators are rewarded for creating new blocks and validating transactions based on the size of their stake. PoS is one of the most popular consensus algorithms on blockchain networks.

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