Delegated Proof of Stake Definition | IoT ONE Digital Transformation Advisors

Terms Glossary D Delegated Proof of Stake

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	Delegated Proof of Stake (DPoS)

Delegated Proof of Stake (DPoS)

Formal	Delegated Proof of Stake (DPoS) is a consensus algorithm developed to secure a blockchain by ensuring representation of transactions within it. It is an implementation of technology-based democracy, using voting and election process to protect the blockchain from centralization and malicious usage. Read More
Practical	Holders of the cryptocurrency of that particular Blockchain have the chance to vote for a delegate they trust with validating the transactions on that Blockchain. The voting process is continuous therefore delegates are incentivized to keep a high standard of their work at all times and not cheat. Read More
Contents

Formal

Delegated Proof of Stake (DPoS) is a consensus algorithm developed to secure a blockchain by ensuring representation of transactions within it. It is an implementation of technology-based democracy, using voting and election process to protect the blockchain from centralization and malicious usage.

Practical

Holders of the cryptocurrency of that particular Blockchain have the chance to vote for a delegate they trust with validating the transactions on that Blockchain. The voting process is continuous therefore delegates are incentivized to keep a high standard of their work at all times and not cheat.

Overview

Delegated Proof of Stake (DPoS)