The Evolution of Consensus Mechanisms: From PoW to PoS

Blockchain networks rely on consensus mechanisms to validate transactions and maintain a tamper-proof ledger. Proof of Work (PoW), introduced by Bitcoin in 2009, was the first widely adopted mechanism. In PoW, miners race to solve complex mathematical puzzles, with the winner earning the right to add a new block and claim rewards. While groundbreaking, PoW’s reliance on computational power has revealed significant flaws as blockchain adoption has surged.

Enter Proof of Stake (PoS), the mechanism powering the Krown Blockchain. In PoS, validators are selected to create blocks based on the number of coins they hold and "stake" as collateral, eliminating the need for energy-intensive mining. This shift is more than a technical tweak—it’s a critical evolution that addresses global demands for efficiency, inclusivity, and environmental responsibility.