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CRYPTO 101

Ep 13. - Proof of Work & Proof of Stake

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6821 Ratings

🗓️ 13 August 2017

⏱️ 16 minutes

🧾️ Download transcript

Summary

*** this is not financial or legal advice*** What is proof of work & proof of stake? Here is a, hopefully, entertaining and informative story of POW & POS. Enjoy "The Barbecue" Show Links: CRYPTO101podcast.com Patreon: www.patreon.com/user?u=8429526 Twitter: twitter.com/Crypto101Pod twitter.com/BrycePaul101 twitter.com/PizzaMind www.instagram.com/crypto_101 Facebook: https://www.facebook.com/groups/101Crypto/ https://www.facebook.com/CRYPTO101Podcast/ **THIS IS NOT FINANCIAL OR LEGAL ADVICE** © Copyright 2019 Boardwalk Flock, LLC All Rights Reserved Music: https://www.youtube.com/watch?v=m95GvM1xYHA&t=25s Advertising Inquiries: https://redcircle.com/brands Privacy & Opt-Out: https://redcircle.com/privacy

Transcript

Click on a timestamp to play from that location

0:00.0

I used to call you after midnight.

0:04.6

It was cool because we both agreed.

0:08.7

We were easy, kind of weekly.

0:13.2

Just a friend sleeping next to me.

0:20.2

Yo, yo, welcome to Crypto 101.

0:22.0

This is Matthew Aaron.

0:23.2

And today we're going to talk about proof of work or proof of stake.

0:26.5

Proof of work or proof of stake.

0:28.3

And just the basic definitions.

0:29.6

And now look, you can go on YouTube and find videos about this all over the place.

0:35.8

But this wouldn't be Crypto 101 if I didn't cover proof of work and proof of stake.

0:41.1

But first, I have to tell you a story.

0:43.8

Interestingly enough, yesterday I got home and there was this box at my house.

0:50.5

And on this box, there was, it was just a box, you know, it was like a wooden box, hinges,

0:56.8

top to it, handles, you know, just, it's a box.

1:00.7

And on the box, there was this three-digit code, you know, three digits, one, two, three,

1:04.5

and each of them numbered from zero to nine, like a briefcase.

1:08.3

And on top of this, the box, there was a note. And it said, uh, thank you. Here, this is for you.

1:15.7

If you can open the block, you get the 12 bucks inside. I'm like, what? Okay, fine. We're going to call it a

1:21.1

block. Whatever. And I was like, all right. So I did the quick math. I was like, okay, 10 times, 10 times,

1:27.3

10, how many different combinations are there?

1:29.8

A thousand divided by 60.

...

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