Introduction to Bitcoin: Proof of Work (PoW) versus Proof of Stake (PoS)

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Course Introduction

Modern Monetary Policy

Block 1 Overview

Introduction to Money

Sound Money Principles

The Federal Reserve

Global Money, Debt and Inflation

Introduction to Bitcoin

Block 2 Overview

Introducing Cryptography & Bitcoin

Understanding the Proof of Work Consensus Protocol

Securing your Bitcoin from Theft

Bitcoin Economics

Storing and Transacting Bitcoin

Block 3 Overview

Summary of Methods for Bitcoin Storage

Custodial and Exchange Wallets

Non-Custodial Wallets

Hardware Wallets

Multisignature / Shared Wallets

Custody Providers

A journey through the Blockchain

Bitcoin Mining and Securing the Bitcoin Network

Block 4 Overview

What is Bitcoin Mining?

Understanding Bitcoin’s Hash Rate & Difficulty Adjustment

The Bitcoin Mining Industry: History and Growth

Proof of Work (PoW) versus Proof of Stake (PoS)

Bitcoin and the ESG Debate

Valuing the Bitcoin Network

Block 5 Overview

Functions of Money in Modern Society

Various Bitcoin Valuation Methodologies

Diving into On-Chain Metrics

The Nakamoto Portfolio c/o Swan Research

Buying Bitcoin and Related Proxies

Block 6 Overview

Buying on an Exchange

Bitcoin-only Financial Services

The “Grayscale” trade

Futures & Stock Market Proxies

Future Trend: An eventual SPOT Bitcoin ETF?

The Rise of CBDCs

Block 7 Overview

What is a CBDC?

The Argument For and Against CBDCs

FedNow and FedFuture

El Salvador: A Meaningful Test for Bitcoin

Block 8 Overview

El Salvador: A Brief History

The IMF: A Brief History

Clash of the Titans

What Happened? What Comes Next?

Building on Bitcoin

Block 9 Overview

BIPs - Bitcoin Improvement Proposals

The Lightning Network

Projects Building on Bitcoin

Bitcoin and Regulation

Block 10 Overview

A Brief History of Regulation in the United States

Regulatory Bodies and the Howey Test

The SEC’s role in Regulation and Industry Response

Regulatory Legislation: Now and the Future

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Introduction to Bitcoin

Proof of Work (PoW) versus Proof of Stake (PoS)

Block: 4
Transaction: 4
Duration: 02:22
Published: Oct 11th, 2023

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About This Transaction

This transaction will compare and contrast the Proof of Work (PoW) consensus mechanism used by Bitcoin with the Proof of Stake (PoS) consensus mechanism used by most other cryptocurrencies. You will learn about the fundamental differences between these two approaches to achieving consensus in blockchain networks. We will discuss the advantages and limitations of each, as well as the potential environmental implications. By the end of this transaction, you will have a comprehensive understanding of PoW and PoS and their role in the blockchain ecosystem.