# Current status of «proof of stake» **URL:** \ **Category:** Factual Questions\ **Created:** [February 12, 2021, 11:09pm UTC](https://boards.straightdope.com/t/current-status-of-proof-of-stake/932802 "2021-02-12T23:09:13Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![Danger\_Man](https://avatars.discourse-cdn.com/v4/letter/d/6de8d8/32.png) [@Danger\_Man](https://boards.straightdope.com/u/Danger_Man)\ **Post date:** [February 12, 2021, 11:09pm UTC](https://boards.straightdope.com/t/current-status-of-proof-of-stake/932802/1 "2021-02-12T23:09:13Z")
> **[Proof of stake](https://en.m.wikipedia.org/wiki/Proof_of_stake)** > > Pages for logged out editors learn more > > > Proof-of-stake (PoS) protocols are a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof-of-work schemes. The first functioning use of PoS for cryptocurrency was Peercoin in 2012. > For a blockchain transaction to be recognized, it must be appended to the blockchain. In the proof of stake ... Wikipedia lists some criticisms, but does not say what the current status of the technology is. Is it something that will replace «proof of work» and stop cryptocurrencies from wasting so much power? ---
**Author:** ![iamthewalrus\_3](https://avatars.discourse-cdn.com/v4/letter/i/258eb7/32.png) [@iamthewalrus\_3](https://boards.straightdope.com/u/iamthewalrus_3)\ **Post date:** [February 13, 2021, 12:22am UTC](https://boards.straightdope.com/t/current-status-of-proof-of-stake/932802/2 "2021-02-13T00:22:28Z")
There are a few cryptocurrencies that use PoS, but none of the big ones do, so unless the big ones lose popularity or hard-fork _and_ people follow the PoS fork then I don’t see it making a huge impact on power consumption.