💹PoW vs. PoS

The earliest blockchains, including Bitcoin, utilized a Proof of Work (PoW) consensus mechanism. In PoW, network participants known as miners use computational power to solve cryptographic puzzles, with the first to solve the puzzle gaining the right to validate transactions and earn rewards. While effective, PoW has several drawbacks, including:

• High energy consumption.

• The centralization of mining power is in the hands of those who can afford expensive hardware.

• Scalability challenges.

To address these issues, newer blockchains have turned to the Proof of Stake (PoS) consensus mechanism, which replaces the need for energy-intensive mining with a system in which validators are chosen based on the number of tokens they hold and are willing to "stake" as collateral.

Krown Network adopts the PoS consensus to create a more scalable, energy-efficient, and accessible blockchain, allowing users of all technical backgrounds to participate in securing the network, earning rewards, and supporting decentralized applications.