What is the difference between Proof of Work and Proof of Action?
Updated
Proof-of-Work (PoW) is a consensus algorithm that specialized data servers (miners) use to confirm transactions on a distributed and decentralized public ledger called “blockchain” and continually produce new confirmed transaction files or blocks to add to the chain. With PoW, miners compete against each other to verify transactions on the respective network for rewards.
Proof-of-Action (PoA) recognizes contribution and energy usage tied to a given blockchain, which generates a Switch reward for the successful confirmation on the supported blockchain.
