What Is Proof-of-Stake?
Proof-of-stake is a method of maintaining integrity in a blockchain, ensuring users of a cryptocurrency can’t mint coins they didn’t earn.
What is delegated proof of stake? “(DPOS) Delegated proof of stake is a new consensus algorithms that allows shareholders (or the users of the system) to have control over who is certifying the ledger. it allows us to have 10 second block times, process 10 transactions per second or more, and allows the network to scale; to have dedicated nodes that are highly efficient and specialized yet remain in control of the shareholders. We can actually have 10 second confirmation on your blocks that is more secure than bitcoin.” How is DPOS different than proof of stake or proof of work? “Proof of....
This week, Bitcoinist has published two excellent articles on the topic of DPOS, or delegated Proof of Stake. Both written by Alberto Mata, DPOS is a new feature that Bitshares is talking about, which they believe solves problems of both proof or work and proof of stake systems alike, adding another layer of security by countering the negative effects of trust centralization. One fact that is pointed out however is that it a DPOS system is still vulnerable to 51% attacks, but the cost would be much higher compared to another systems. To read more visit the following articles: Dan Larimer....
A technical and in-depth analysis of the trade-offs that Ethereum’s consensus mechanism makes in its switch to proof-of-stake and how proof-of-work differs.
Proof-of-work is the innovation that drives energy innovation. Proof-of-stake ensures the richest among us will continue their control over others.
Bitcoin Magazine Pro hosted a Twitter Spaces that brought the biggest names in Bitcoin and crypto to converse about the Ethereum move to proof-of-stake.