RE: What is proof-of-stake and how can you receive blockchain transaction rewards even with a low amount of coins
I see that POW has got outdated, so ETH is changing to proof of Stake. I am familiar with this a bit but no idea of a pool for staking where you receive rewards and stuff. So, your given a reference point for understanding this.
I reckon this staking stuff is a BUZZ... Ada, Cardino, had some staking process for shelley phase...but not keeping in touch, coz its going over the head.
My doubth is to validate a transaction you need knowledge right?... how come people who have more crypto money stake get more power to validate transaction, don't you need technical knowledge.
When BTC was early, people used to solve this mathematical equation to validate transaction, miners, but when this ASIC chip stuff came computing power became important for validating transaction stuff. That sucked and sucks still I guess.
Anyway... nice article, I am trying to vote for steem witness as well(:
Yes, there is less need for tech knowledge to participate in a proof-of-stake network valitadion, wich is good, because that means it is possible to have more nodes to process transactions (more decentralization)
It is still the same. Computing power was always what was needed, but the ASICs machines are specialized to do the calculations needed to mine a transaction. They arent useful for anything else. They actually made mining more efficient, wich as a side effect, increased the computational power needed to valitade a transaction.