grinr t1_iz9xokk wrote
Reply to comment by GoofAckYoorsElf in Ethereum’s energy switch saves as much electricity as entire Ireland uses | The success of The Merge concept may now serve as a roadmap to enable a switch from Proof of Work to Proof of Stake in Bitcoin. by chrisdh79
Proof-of-stake changes the way blocks are verified using the machines of coin owners, so there doesn't need to be as much computational work done. The owners offer their coins as collateral—staking—for the chance to validate blocks and then become validators.
Validators are selected randomly to confirm transactions and validate block information. This system randomizes who gets to collect fees rather than using a competitive rewards-based mechanism like proof-of-work.
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