PoS Mechanism

The first digital currency to be introduced, Bitcoin, introduced a new consensus called proof of work, which aimed to secure the network. A miner does a lot of work(arithmetic calculation) and shows proof in proof of work. However, this system has many problems like high electricity costs. Therefore, it launched a new consensus PoS. Proof of Stake(PoS), introduced in 2012, allows a user to collateralize some assets to validate and release blocks. Since then, several cryptos have their versions of…