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Delegated Proof of Stake

A consensus mechanism where network users vote for 'delegates' who are responsible for validating transactions and maintaining the blockchain.

AbbreviationDPoS
Categoryweb

Overview

DPoS is a variation of the Proof of Stake (PoS) model. It is designed to be more efficient and scalable by reducing the number of nodes required to reach consensus.

How it Works

  1. Voting: Token holders use their stake to vote for a set of delegates (often called witnesses or block producers).
  2. Validation: The elected delegates take turns producing blocks and validating transactions.
  3. Governance: Delegates can be voted out if they fail to perform their duties or act maliciously.

Pros and Cons

  • Pros: High transaction throughput, energy efficiency.
  • Cons: Potential for centralization if a small group of delegates gains too much power.

Related Terms

Consensus MechanismStakingValidator