'Coming to Consensus: Proof-of-Work vs Proof-of-Stake' blockchain blockchainwritingcontest
The nonce is the missing piece of a cryptographic puzzle that is holding up the current block from being finalized so that the next block can become available. Given the pace at which transactions are intended to occur, the first miner to solve the puzzle receives a: a predetermined payout from programmatic inflation doled out in the respective block.
Since it was first implemented by Peercoin in 2012, Proof-of-Stake has grown to become the most prominently used method of Sybil resistance for cryptocurrencies and other blockchain-based projects. Outside of Bitcoin, Ethereum, and Litecoin, nearly all of the most well-known blockchains use Proof-of-Stake.
from an interview with Lex Fridman. As such, I recommend watching it as a supplement to this article.While some may argue that the barrier to becoming an Ethereum validator is higher than becoming a Bitcoin miner , this is a bit misleading. As I mentioned above, those winning the majority of the block rewards are those with the most hashpower, and since increasing hashpower benefits from economies of scale, larger operations disproportionately benefit.
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