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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.

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Dawson Sewell
Dawson Sewell edited on 1 Sep, 2020
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Dawson Sewell
Dawson Sewell edited on 1 Sep, 2020
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Daniel Frumkin edited on 18 Oct, 2019
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Witnesses or block producers are selected to secure the cryptocurrency network by signing each block, and then approve them through a voting system. Witnesses cannot, however, sign random blocks, and need a witness to have signed a previous block. If witnesses don't produce, they can lose their job on the network or the benefits of the network in the future.

Edits on 18 Apr, 2019
Carla Faraguna
Carla Faraguna edited on 18 Apr, 2019
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Further reading

Title
Author
Link
Type

Delegated Proof of Stake: Features and Tradeoffs - Multicoin Capital

Web

Seeking Consensus on Consensus - DPOS or Delegated Proof of Stake and the Two Generals' Problem -- Steemit

Web

Edits on 14 Nov, 2018
Jude Gomila
Jude Gomila approved a suggestion from Golden's AI on 14 Nov, 2018
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Title
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Type

Daniel Larimer

Delegated Proof-of-Stake (DPOS)

http://107.170.30.182/security/delegated-proof-of-stake.phphttp://107.170.30.182/security/delegated-proof-of-stake.php

Edits on 13 Mar, 2018
Sumon Sadhu
Sumon Sadhu edited on 13 Mar, 2018
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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 BitsharesBitshares blockchain.

Edits on 2 Mar, 2018
Alex Dean
Alex Dean edited on 2 Mar, 2018
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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

Delegated proof of stake (DPOS) is a method of providing security to a crypto-currency network. It makes use of witnesses, more formally referred to as "delegates", who have approval voting ability to resolve consensus issues in a fair and democratic manner. One advantage of DPOS is that it does away with the need to wait until a number of "untrusted" noddesnodes 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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Edits on 23 Feb, 2018
Michael Naval
Michael Naval edited on 23 Feb, 2018
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Further reading

Author
Title
Link

Daniel Larimer

Delegated Proof-of-Stake (DPOS)

http://107.170.30.182/security/delegated-proof-of-stake.php

Edits on 28 Jan, 2018
Michael Naval
Michael Naval edited on 28 Jan, 2018
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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.

Article

Delegated proof of stake (DPOS) is a method of providing security to a crypto-currency network. It makes use of witnesses, more formally referred to as "delegates", who have approval voting ability to resolve consensus issues in a fair and democratic manner. One advantage of DPOS is that it does away with the need to wait until a number of "untrusted" noddes have verified a transaction before it can be confirmed. Thus, this layer of technological democracy offsets the negative effect of centralization.

Edits on 26 Jan, 2018
Alex Dean
Alex Dean edited on 26 Jan, 2018
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Edits on 24 Oct, 2017
Alex Dean
Alex Dean edited on 24 Oct, 2017
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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.

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Alex Dean created this topic on 24 Oct, 2017
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