What is delegated proof-of-stake (DPoS)?
Delegated proof-of-stake (DPoS) is a consensus algorithm used by the EOS blockchain.
It is a variant of the traditional proof-of-stake (PoS) consensus mechanism, which allows users to stake their tokens in order to validate transactions and secure the network. Unlike PoS, DPoS uses a voting system to select a limited number of “delegates” who are responsible for validating transactions and maintaining the network. These delegates are elected by token holders, who can vote for up to 30 delegates at any given time.
The delegates are rewarded with block rewards for their work, and they also receive transaction fees from users who send transactions on the network. The main advantage of DPoS is that it allows for faster transaction speeds than PoS, as there are fewer nodes required to validate transactions. This makes it more suitable for applications that require high throughput, such as decentralized exchanges or gaming platforms.
Additionally, DPoS is more energy efficient than PoS, as it requires less computing power to maintain the network. Overall, DPoS is an efficient consensus algorithm that allows EOS users to securely and quickly transact on the blockchain without sacrificing decentralization or security.
