How does the $ETH Ethereum network protect itself? It uses the POS system, or Proof of Stake. In short, you put up a certain amount of Ether as collateral, and then you can participate in verifying and protecting the network. If you try to manipulate or cheat, you will lose your capital. Once the block has been verified and confirmed, it is proposed to the Ethereum network. The network checks the block, and then it is added to the Ethereum blockchain.
In summary, Bitcoin uses the POW system (mining),
while the Ethereum network uses POS (Proof of Stake).
There are also hybrid networks that use both POW and POS. The best-known such networks are #decred $DCR .
After explaining blockchain and how networks are protected in previous posts, in the next post I will move on to defining a block and explaining what type of data it contains.
In summary, Bitcoin uses the POW system (mining),
while the Ethereum network uses POS (Proof of Stake).
There are also hybrid networks that use both POW and POS. The best-known such networks are #decred $DCR .
After explaining blockchain and how networks are protected in previous posts, in the next post I will move on to defining a block and explaining what type of data it contains.