Miners vs Validators

[I_Anime]

We are all aware that is not all blockchain that uses miners when come to the verification of transactions. When come to bitcoin,  miners are the ones that usually select transactions in the blockchain, where by a group of miners will have to compete by solving complex mathematical problem . The winner gets to add the next block of transactions to the blockchain and receive rewards , which we all know as proof of work  (pow) .

While coin like ETH make use of validators , instead of competing with computing power (solving complex mathematical problem) . Validators stake ETH as a form of collateral inorder to participate in confirming transactions and securing the network, which is called proof of stake (pos) .

[Hypnotizer]

It’s actually very easy to distinguish between the two especially when you understand what PoW and PoS means, they both secure the blockchain but they use different mechanics to do so..

Based on the topic title, it’s sounding like a comparison.. lol, and I assume it is, so let’s get the comparison started..

Using Miners is way better for security and to preserve the main essence of Decentralization which is Censorship resistance because you can’t manipulate the network if it uses Proof of Work. But for faster speeds and scalability then Proof of Stake can be considered better. 

So each has its pros and cons and it depends on which aspect the network considers more, whether they want a secured, a hard to manipulate and censorship resistant network or they want a faster and more scalable network.

[Mia Chloe]

~snip

The point is both are just terms that re used to identify if a network is built on a POW protocol or a POS protocol. Both of them are actively confirming transactions but the difference is just like you stated that POS has to stake a certain amount first POW you are just working via your hash rate to solve as fast as you can.

~snip

Speed is not a key factor here if we are being honest. Plus speed Vs cost is a debate that will leave cost with the upper hand most times. The cons for a network  built on the POS mechanism is way more especially when you have the case of unlimited supply like in Ethereum.

[Bitcoin-Forever]

We are all aware that is not all blockchain that uses miners when come to the verification of transactions. When come to bitcoin,  miners are the ones that usually select transactions in the blockchain, where by a group of miners will have to compete by solving complex mathematical problem . The winner gets to add the next block of transactions to the blockchain and receive rewards , which we all know as proof of work  (pow) .

While coin like ETH make use of validators , instead of competing with computing power (solving complex mathematical problem) . Validators stake ETH as a form of collateral inorder to participate in confirming transactions and securing the network, which is called proof of stake (pos) .

Thanks for this information because some may not actually know about the difference, it may even be that some people may assume that both bitcoin and ethereum uses the same proof of work, but you're simple explanation make it you are enough to distinguish between the two, indeed information is power, even though some of us know this already, but it's good also serve as an opportunity of learning to some other people that maybe coming across such information for the first time.

[Alvin_talk]

I'll assume this post is specifically created for newbies in the crypto space so they can learn, if that's the goal, then thumbs up.

As far as bitcoin is concerned, only proof of work is recognised and this has helped bitcoin to remain truly decentralised. Shitcoins like ethereum which practice proof of stake are of no difference from centralised system. Because the more coins you control, the more influence you have over validation and rewards, which ofcourse concentrate power in a way bitcoin originally intends to avoid.

[osasshem]

This is informative, yes.

The both are of same purpose, but for the reason being where/how they are being built makes a difference between them. The POW which holds the part of security makes it difficult for any form of manipulation or tricks to be done in the network, while POW may say it is faster. More projects founded themselves on POS, this has a firm stand because of the presence of high technicality in the POW System.

[Obim34]

~snip

The most closely related cryptocurrency that uses the same proof of work consensus mechanism as Bitcoin is BCH, which was forked from Bitcoin. For comparison, in terms of security, POW seems to be better, and also more demanding for cost operation and maintenance costs.

If proof of stake were a more suitable option, Bitcoin wouldn't have had its consensus mechanism built around proof of work.

[Agbamoni]

The most closely related cryptocurrency that uses the same proof of work consensus mechanism as Bitcoin is BCH, which was forked from Bitcoin. For comparison, in terms of security, POW seems to be better, and also more demanding for cost operation and maintenance costs.

Unfortunately, BCH has never achieved the dominance its developers wanted to date. BCH was later cut off from Bitcoin in 2017.

If proof of stake were a more suitable option, Bitcoin wouldn't have had its consensus mechanism built around proof of work.

POW and POS are two different option, its not about which is better for Bitcoin. Bitcoin developers chose the POW mechanism. Technically, Bitcoin could be redesigned to use POS, but that's not an option cause miners will no longer benefit from the network.

[Antidote47k]

A lot can be said about both of them, while they have slight distinctions and variations ultimately in both systems nodes still enforce consensus rules. A bigger difference will be how rewriting history for both of them works.
With bitcoin’s PoW, producing a block requires computational power and energy, so if you want to rewrite a sufficiently deep part of the chain, you will have to produce enough proof of work to compete with the chain you’re trying to replace, you just can’t simply convince nodes that your version is correct.
With PoS, it’s different, simply stake more but the protocol uses rewards and penalties to incentivize honest behavior.

PoW essentially says: you want to influence the chain? Prove that you expended real world resources

PoS says: you want influence? Put economic value at stake and follow the protocol