The Proof-of-Stake (PoS) algorithm is the most common alternative to the more well-known Proof-of-Work algorithm, used in the Bitcoin blockchain. PoS systems are designed to solve some of the problems and inefficiencies that afflict PoW-based blockchains.
No to miners, yes to validators
PoS completely removes miners and introduces the concept of “validators”: unlike miners, who use computational power to solve complex mathematical problems, the validators “bet” their funds on blocks deemed valid.
A validator can therefore be anyone who is willing to prove he owns a certain amount of cryptocurrency on the network. An algorithm determines which validators will be chosen for each block.
While miners try to increase their chances of solving complex mathematical problems through additional computing power, validators increase their chances of being selected for the validation of a block by betting more money on it.
