I'm looking for an explanation of the difference between Proof of Work algorithm and the Proof of Stake and how they relate to LABH COIN and The Block-chain
Also looking for a fairly simple, non-technical answer. You can get a little technical but I'm not a dev and have no clue how to code.
Proof of work (PoW) requires proof that work of some kind occurred. In the case of Bitcoin miners are required to do this work before any of their blocks is accepted by others.
Proof of stake (PoS) requires users that have a high stake at the currency (i.e. hold a lot of coins) to determine the next block. This has a high risk of some party achieving monopoly of the currency but there are several methods to prevent that (by allocating random stakeholders to agree on a new block, and others)..