Proof of Stake
Proof-of-stake means the following:
- In every slot (spaced twelve seconds apart) a validator is randomly selected to be the block proposer. They bundle transactions together, execute them and determine a new 'state'. They wrap this information into a block and pass it around to other validators.
- Other validators who hear about a new block re-execute the transactions to ensure they agree with the proposed change to the global state. Assuming the block is valid they add it to their own database.
- If a validator hears about two conflicting blocks for the same slot they use their fork-choice algorithm to pick the one supported by the most staked BTC.