What is PoS
In a proof-of-stake (PoS) system, miners are required to pledge a stake of cryptocurrency for a chance to be randomly chosen as a validator.
What is a validator? What is it for? Please refer to the content: What is a Node / Validator
The process is just like a lottery whereby the more coins you stake, the better your odds. Unlike in PoW where miners are incentivized by block rewards (newly generated coins), validators who stake more are rewarded with higher rewards.
However, as the system favors entities with a higher number of tokens, PoS has drawn criticism for its potential to lead to centralization.
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