For a proof-of-stake blockchain such as solana to work effectively, a network of people who validates activities on the blockchain needs to exist - where activities could be buying and selling crypto, for example.
The person who ends up validating the activities is called a validator. With proof-of-stake, the validator is selected on the basis of how many coins they stake.
Imagine there are 1,000 solana coins in total. A validator called Henry has 270 coins which he puts into the validator-draw. Henry now has a 270/1,000th - or 27% - chance of being selected to validate the next block of activities on the blockchain.
If Henry tries to trick the blockchain by typing in false information, it’s up to the rest of the network to check and evaluate whether or not Henry’s validator is correct or true. Luckily, it’s actually a pretty simple task for the network to check.
When Henry gets revealed for cheating, all 270 coins he staked will be confiscated. That’s why there’s a large incentive to not cheat - and that helps to strengthen solana’s security.
With proof-of-history all transactions will automatically receive a timestamp, which ensures that the order, or sequence, of transactions is correct. And this actually saves the validator network a lot of time and resources, which results in more transactions being validated per second.
In a proof-of-stake blockchain, the network of validators needs to agree on the sequence of transactions - this is where solana’s proof-of-history saves a lot of time, because the network doesn’t have to use time and resources to agree upon the timing and sequence of transactions. The blockchain takes care of that all by itself.
Tip: You can read more about proof-of-history in our post "What is solana? ”.