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Delegated proof of stake (DPOS)

Delegated proof of stake (DPOS)

Delegated proof of stake (DPOS) is a method of providing security to a crypto-currency network through the approval voting of delegates.

Delegated proof of stake (DPOS) is a family of consensus mechanisms for blockchain networks. It makes use of witnesses or leaders, often referred to as "delegates", who have approval voting ability to resolve consensus issues. DPOS was created by Dan Larimer in 2013 for implementation in the Bitshares blockchain.

Advantages

One advantage of DPOS is that it does away with the need to wait until a number of "untrusted" nodes have verified a transaction before it can be confirmed. Thus, this layer of technological democracy offsets the negative effect of centralization.

Disadvantages

Delegated proof of stake has been criticized for having increased centralization due to the concentration of power among the leaders or witnesses in the system.

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Delegated Proof-of-Stake (DPOS)

Daniel Larimer

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