Delegated Proof of Stake (DPoS)
Delegated Proof of Stake (DPoS) is a consensus algorithm used by blockchain networks to reach agreement on the state of the network. It is a variation of the traditional Proof of Stake (PoS) consensus algorithm, where stakeholders are able to vote for delegates to represent them in the consensus process. The delegates are then responsible for validating transactions and maintaining the network. DPoS is a more efficient and cost-effective way of reaching consensus than PoS, as it requires fewer resources and is more secure.
History of Delegated Proof of Stake
Delegated Proof of Stake was first proposed in 2014 by Daniel Larimer, the founder of the blockchain platform BitShares. Larimer proposed the idea as a way to improve upon the existing PoS consensus algorithm, which was seen as inefficient and costly. DPoS was designed to be more efficient and cost-effective, as well as more secure. Since its introduction, DPoS has been adopted by a number of blockchain networks, including EOS, Tron, and Steem.
Comparison of DPoS and PoS
| Feature | DPoS | PoS |
|---|---|---|
| Efficiency | High | Low |
| Cost | Low | High |
| Security | High | Low |
Summary
Delegated Proof of Stake (DPoS) is a consensus algorithm used by blockchain networks to reach agreement on the state of the network. It is a variation of the traditional Proof of Stake (PoS) consensus algorithm, where stakeholders are able to vote for delegates to represent them in the consensus process. DPoS is a more efficient and cost-effective way of reaching consensus than PoS, as it requires fewer resources and is more secure. For more information about DPoS, you can visit websites such as EOS, Tron, and Steem.
See Also
- Proof of Work (PoW)
- Proof of Authority (PoA)
- Proof of Burn (PoB)
- Proof of Capacity (PoC)
- Proof of Elapsed Time (PoET)
- Proof of Activity (PoA)
- Proof of Importance (PoI)
- Proof of Stake (PoS)
- Proof of Weight (PoW)
- Proof of Storage (PoS)
