Delegated Proof of Stake (DPoS)

30 Articles 5 Followers

Delegated Proof of Stake (DPoS) is a type of consensus algorithm considered by many to be a more efficient and democratic version of the PoS algorithm. It’s also an alternative to the energy intensive proof of work (PoW) consensus algorithm.

DPoS was developed and created by Dan Larimer, an American software developer and founder of cryptocurrency projects BitShares, Steem, and EOS. The first implementation of DPoS was on BitShares in 2013 and has since been implemented on Steem, Lisk, Nano, Ark, or Tezos.

Unlike PoS which uses validators that stake tokens and gain voting power to achieve consensus, DPoS achieves consensus by both real-time voting combined with a social system of reputation. This model is said to make DPoS the most decentralized consensus protocol compared to all others because every token holder can exercise a degree of influence over the network. 

In other words, stakers in the system outsource their work to a few delegates that secure the network on their behalf. These delegates are voted in by stakeholders and the larger the stake, the more voting power a staker has. Trustworthy delegates who have a good reputation and value proposal get elected and if an elected delegate/node misbehaves or is inefficient, it is quickly replaced by another. 

As for advantages of DPoS blockchains, they are more scalable and able to process more transactions per second than PoW and PoS blockchains. Other advantages include savings on energy costs and more decentralization. As for disadvantages, sufficient decentralization can never be achieved if the blockchain hopes to highly scalable. There must be a balance between the number of block producers and the scalability of the network.

[ENG/ITA] It's the HPUD: Let's Celebrate Hive! / E' l'HPUD: Celebriamo Hive!

1 Aug 2023 6 minute read 0 comments Arc7icWolf

La versione italiana  si trova sotto quella inglese  The italian version  is under the english one      Eight HPUD of 2023! Months pass quickly and, almost without realising it, we are already at the eighth Hive Power Up Day of this 2023: exactly...

Hive HPUD - Harnessing the power of staking while growing the crypto holdings

1 Jun 2023 1 minute read 0 comments Behiver

Time passes fast when you're having fun and where more than in crypto space you can enjoy financial freedom? With that in mind we are already on 1st of June 2023 and I think you all know what event it is: Hive Power Up Day. Beside earning symbolic ba...

Proof of Stake blockchain for passive income

22 Jan 2023 2 minute read 0 comments Bala

If we want to make crypto our primary source of living someday, proof-of-stake blockchains are one good source of passive income. Before we continue further, let's first try and understand what is a Proof of Stake blockchain. There are also some diff...

It's Hive Power up Time

22 Nov 2022 2 minute read 0 comments knowhow92

It's been a year since BTC and most altcoins hit an all-time-high and oh boi what a crazy year this was! Just like after every bull cicle we're now past the ephoria phase and riding the fear train. The collapse of HUGE companies like FTX and Celsius,...

Learn about Solar ($SXP) & earn $20 SXP - CoinMarketCap Earn

7 Apr 2022 1 minute read 0 comments wantumeni

The Solar "Learn & Earn" campaign will run from April 7th to April 20th. What is Solar? Solar is a fully decentralized and open-source blockchain designed from core blockchain components. It operates via a Delegated Proof of Stake consensus and secu...

EOS in focus, better computation than Ethereum, but is it good enough?

18 Nov 2021 3 minute read 1 comment Austras

Bitcoin and Ethereum are almost always the targets for new blockchains. They aim to replace or improve upon what these two have done. Our latest look will be at EOS, a blockchain that has found large popularity for its comfortable, but how good it? B...

Remitano Network, a Peer-To-Peer Cryptocurrency Marketplace - Launching Their Own Token RENEC, For You To Mine In The App!

8 Aug 2021 6 minute read 0 comments RalleCrypto

Remitano Network - Launching Own Token RENEC     Remitano is a P2P (Peer-to-Peer) marketplace for Bitcoin and other crypocurrency trading with low fee's, they also use escrow-trading for a safer experience with a customer support open 24/7. Remitano...

Delegated Proof of Stake simplified

4 Apr 2021 1 minute read 0 comments nervi

Delegated Proof of Stake, DPoS for short, is a very innovative consensus algorithm. You could say that it is a kind of democratic PoS system. It was created as an alternative to the "old" Proof of Work system, which as we know requires a lot of work...

Now it is time to buy and power up Hive

5 Nov 2020 2 minute read 0 comments Bala

For those who have been dreaming about increasing their Hive power, this is the right moment to do so. With the current price of Hive, it is very comfortable to purchase the Hive. For a small investment people easily get more Hive. I had this thought...

A Guide to Decred (DCR)

21 Oct 2020 5 minute read 1 comment

As cryptocurrency continues to become popular, people are learning about the need to take control of the Blockchain. Well, there are benefits of having a cryptocurrency that does not have a central authority, but there are cons for that as well. Decr...