Proof of Work vs Proof of Stake security models
Consensus mechanisms are the rules that allow a decentralized network to agree on the true state without a central authority. Proof of Work (PoW) requires miners to solve computational puzzles, making it expensive to lie (an attacker must control majority hashpower). Proof of Stake (PoS) requires validators to lock capital as collateral, where misbehavior results in slashing (forfeiture) of the stake. Both make attacks costly, but through different incentive structures.
Alternative mechanisms and their tradeoffs
Proof of History (PoH) uses sequential timestamps to reduce consensus requirements, lowering energy costs but adding cryptographic complexity. Practical Byzantine Fault Tolerance (PBFT) achieves finality in a single block but requires many message rounds, limiting throughput. PoW is energy-intensive but extremely battle-tested; PoS is more efficient but less proven at scale. Newer mechanisms attempt to optimize finality and censorship resistance, each trading security guarantees and efficiency in different ways.