What Is PoW?
PoW: Proof of Work, is a consensus mechanism for validating workload.
Because the whole process of monitoring is usually inefficient, and PoW is a very efficient way to prove that a certain amount of work has been done by certifying the results of the work.
Simply put, how much coins you get depends on how effectively you contribute to mining. Most digital currencies, such as Bitcoin (BTC), Litecoin (LTC), etc. are virtual currencies based on PoW (the more hashrate you have and the longer the mining time you spend, the more coins you get).
What Is PoS?
PoS: Proof of Stake, is a mechanism based on the amount and duration of digital currency holdings. It is also described as a form of virtual mining.
PoS is a consensus algorithm in the public chain, which can be used as a replacement of the PoW algorithm. PoW algorithm has been blamed for damaging the environment and wasting electricity during the mining process. PoS attempts to solve these problems by replacing the concept of mining with a different mechanism.
PoS relies heavily on tokens in the blockchain itself. Holding more tokens in the Pos mechanism means that there is a greater chance of producing new blocks.