Proof of Work (PoW) Vs. Proof of Stake

question 17

Multiple Choice

Proof of Work (PoW) vs. Proof of Stake.

• A) PoW is computationally intensive which requires lots of energy. On the other hand, miners earn straightforward a reward for mining a block and incorporating transactions.
• B) PoW is better than PoS, because with PoS we increase the amount of energy spent on the network.
• C) PoS is mining with specialized new hardware that has to be purchased with a stack of Ether in the network. Hence the Name: Proof of Stake, which derives from Stack.

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Definitions:

Expenses

Costs incurred in the process of generating revenue, including operating costs, utilities, and salaries.

Recording Process

The systematic procedure of capturing and documenting financial transactions and events in the accounting records.

Journal Information

Pertains to the details recorded in a journal entry, which includes the date, accounts affected, and amounts debited or credited.

Ledger

A book or other collection of financial accounts of a particular type, where transactions are recorded.