What is DPOS? 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
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Delegated proof of Stake ( or DPOS) is a consensus mechanism used to secure a blockchain. The Problem Consensus mechanisms like proof-of-work cause trust centralization at the entities driving the mechanism. In proof-of-work based systems like Bitcoin, trust concentrates at the entities that can produce the greatest amount of work. In the early days of Bitcoin, this concentration of trust was not an issue because anybody could plug in their computer and mine some bitcoin.
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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