Proof-of-Work was the most
known consensus mechanism in the cryptocurrency world in the first decade of Blockchain development. But due to its
resource-wise wasteful design, i.e. required real investments into mining
equipment and in addition to that consumed a lot of electricity to let it operate,
the PoW “solution” has become one of the many problems that the
cryptocurrency adopters are now researching to solve. This caused a creation of new concepts like Proof-of-Stake (PoS)