# Proof of Stake
Proof of Stake is the validating of transactions en the creating of blocks on the blockchain by ‘*staking*’ a certain crypto. This is a concensus mechanism.
In Proof of Stake there are no miners, but validators. They don\`t mine blocks, but forge blocks.
The rewards you get for staking your coins are the transaction fees, from transactions in the block.
# Proof of Stake Lottery
The chances of solving a block can be compared to lottery tickets. This usually depends on your ‘stake’. Let\`s say there are a 100 coins and you own 1 coin, you have a 1% chance to solve a block.
# Delegation Mechanism
With special wallet software a user has the ability to ‘*delegate*’ their stake to another user. The more coins are delegated to one user, the higher the chances of solving blocks are for that user.
More blocks = more rewards and these rewards are shared among all the stakeholders in a proportion to the staked amount.
# Pros and Cons
* Energy efficient
* Low entry barrier (You don\`t need expensive equipment as in Proof of Work)
* PoS cryptocurrencies are generally faster than PoW cryptocurrencies
* Users with many coins can have a big influence on the consensus proces.