Proof of Work and Proof of Stake explained for beginners

[ofirbeigel]

I've just came up with a new video tutorial about POW and POS. It's pretty basic but will get you at least understanding the concepts.
I've also linked to a discussion on BitcoinTalk regarding the future of Bitcoin and Proof of Work.

[tripppn]

Great Video for new people.  We need more tutorial videos like this to bring new people into crypto.  That way the same questions don't get asked 100x.  There should be a site dedicated to teaching with multiple videos for all different aspects of crypto.

[btchris]

Nice production values, and easy to understand, but I can't say much positive about the content of the latter half of the video.

For one thing, it's very one-sided, claiming that proof-of-stake is strictly superior to proof-of-work. The link to the forums below isn't very useful, either. I might suggest a more recent thread which includes more enlightened views on proof-of-work and proof-of-state (and proof-of-idle too): https://bitcointalk.org/index.php?topic=776541.0

There's also a strong implication that Bitcoin is on its way towards switching to a proof-of-stake system, which seems extremely unlikely to happen given the problems it has (see that link for details).

[jbrnt]

There's also a strong implication that Bitcoin is on its way towards switching to a proof-of-stake system, which seems extremely unlikely to happen given the problems it has (see that link for details).

I agree that the video sounded a bit biased towards PoS. It didn't mention a word on the problems of PoS like forking and distribution problems. Bitcoin forking to PoS is very unlikely at the moment. I can imagine all miners staying on the PoW fork and nothing happening on the PoS fork.

[ofirbeigel]

Nice production values, and easy to understand, but I can't say much positive about the content of the latter half of the video.

For one thing, it's very one-sided, claiming that proof-of-stake is strictly superior to proof-of-work. The link to the forums below isn't very useful, either. I might suggest a more recent thread which includes more enlightened views on proof-of-work and proof-of-state (and proof-of-idle too): https://bitcointalk.org/index.php?topic=776541.0

There's also a strong implication that Bitcoin is on its way towards switching to a proof-of-stake system, which seems extremely unlikely to happen given the problems it has (see that link for details).

Thanks for the feedback. I didn't mean to sound biased, I personaly don't think there's any solution to this problem yet. The whole idea was just to explain the concepts. I've taken your discussion link and replaced it on the site - thanks for that info.

[Monkeynutz]

Thanks, I need this man

[apsvinet]

Very good video, not the easiest stuff explained in a very understandable manner.
Would've preferred this over all the reading I did for sure, haha.