Difference between revisions of "Proof of Stake (PoS)"

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(External Links: Cointelegraph)
 
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Proof of Stake cryptocurrencies can be faster and much more cost effective in comparison with [[Proof of Work (PoW)]] based ones (such as Bitcoin). The incentives of the block generator are also different. Under Proof-of-Work, the generator may potentially own none of the currency they are mining. The incentive of the miner is only to maximize their own profits. In Proof of Stake, those "guarding" the coins are also those who own the coins.
 
Proof of Stake cryptocurrencies can be faster and much more cost effective in comparison with [[Proof of Work (PoW)]] based ones (such as Bitcoin). The incentives of the block generator are also different. Under Proof-of-Work, the generator may potentially own none of the currency they are mining. The incentive of the miner is only to maximize their own profits. In Proof of Stake, those "guarding" the coins are also those who own the coins.
  
[[Steem]] uses [[Delegated Proof of Stake (DPoS)]] which is the fastest, most efficient, most decentralized, and most flexible [[consensus]] model available. DPOS leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way. All network parameters, from fee schedules to block intervals and transaction sizes, can be tuned via elected delegates. Deterministic selection of block producers allows transactions to be confirmed very quickly. Perhaps most importantly, this consensus protocol is designed to protect all participants against unwanted regulatory interference.
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[[Hive]] uses [[Delegated Proof of Stake (DPoS)]] which is the fastest, most efficient, most decentralized, and most flexible [[consensus]] model available. DPOS leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way. All network parameters, from fee schedules to block intervals and transaction sizes, can be tuned via elected delegates. Deterministic selection of block producers allows transactions to be confirmed very quickly. Perhaps most importantly, this consensus protocol is designed to protect all participants against unwanted regulatory interference.
  
  
 
==Links==
 
==Links==
  
* '''@mooncryption''' : [https://steemit.com/bitcoin/@mooncryption/guide-proof-of-work-pow-vs-proof-of-stake-pos-vs-delegated-proof-of-stake-dpos Guide: Proof of Work (PoW) vs Proof of Stake (PoS) vs Delegated Proof of Stake (DPoS)] ''September 9, 2017''
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* '''@numberofthingz''' : [https://hive.blog/blockchain/@numberofthingz/what-is-staking What is Staking?] ''July 11, 2020''
* '''@bitcoin-journal''' : [https://steemit.com/@bitcoin-journal/what-is-the-difference-between-proof-of-work-and-proof-of-stake-in-cryptocurrency What Is the Difference Between Proof of Work and Proof of Stake in Cryptocurrency?] ''March 21, 2018''
 
* '''@phgnomo''' : [https://steemit.com/hive-175254/@phgnomo/what-is-proof-of-stake-and-how-can-you-receive-blockchain-transaction-rewards-even-with-a-low-amount-of-coins What is proof-of-stake and how can you receive blockchain transaction rewards even with a low amount of coins] ''February 4, 2020''
 
  
 
==External Links==
 
==External Links==
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* [[Consensus]]
 
* [[Consensus]]
 
* [[Proof of Work (PoW)]]
 
* [[Proof of Work (PoW)]]
 
== In other languages ==
 
 
* [[日本語]] (Japanese): [[プルーフ・オブ・ステーク(PoS)]]
 
  
 
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| Help keep this wiki page updated. Register, click in [https://www.steem.center/index.php?title=Proof_of_Stake_(PoS)&action=edit edit], add or modify the text and save. <br>If you're already a steemian you can be rewarded with steem, see how in [https://steemit.com/introduceyourself/@steemcenterwiki/introduction-rewarding-steem-center-wiki-editors-with-steem-too @steemcenterwiki].
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| Help keep this wiki page updated. Register, click in [https://hive.blog/index.php?title=Dolphin&action=edit edit], add or modify the text and save. <br>If you're already a hiver you have a chance to be rewarded with HIVE by posting your wiki contributions and receive upvotes.
 
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|-
 
|}
 
|}

Latest revision as of 06:40, 12 July 2020

Proof of Stake (PoS) is a is a blockchain protocol in which the creator of the next block is chosen in a deterministic (pseudo-random) way, and the chance that an account is chosen depends on its wealth (i.e. the stake).

Proof of Stake cryptocurrencies can be faster and much more cost effective in comparison with Proof of Work (PoW) based ones (such as Bitcoin). The incentives of the block generator are also different. Under Proof-of-Work, the generator may potentially own none of the currency they are mining. The incentive of the miner is only to maximize their own profits. In Proof of Stake, those "guarding" the coins are also those who own the coins.

Hive uses Delegated Proof of Stake (DPoS) which is the fastest, most efficient, most decentralized, and most flexible consensus model available. DPOS leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way. All network parameters, from fee schedules to block intervals and transaction sizes, can be tuned via elected delegates. Deterministic selection of block producers allows transactions to be confirmed very quickly. Perhaps most importantly, this consensus protocol is designed to protect all participants against unwanted regulatory interference.


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Help keep this wiki page updated. Register, click in edit, add or modify the text and save.
If you're already a hiver you have a chance to be rewarded with HIVE by posting your wiki contributions and receive upvotes.