Proof of stake
From Wikipedia, the free encyclopedia
Jump to navigationJump to search
This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)
Some of this article's listed sources may not be reliable. (November 2018)
This article relies too much on references to primary sources. (October 2019)
Proof of stake (PoS) is a type of consensus mechanisms by which a cryptocurrency blockchain network achieves distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e., the stake).
Contents
1 PoS vs PoW
2 Block selection variants
2.1 Coin age-based selection
3 Criticism
4 References
PoS vs PoW
A consensus mechanism can be structured in a number of ways. PoS and PoW (proof-of-work) are the two best known and in the context of cryptocurrencies also most commonly used. Incentives differ between the two systems of block generation. The algorithm of PoW-based cryptocurrencies such as bitcoin uses mining; that is, the solving of computationally intensive puzzles to validate transactions and create new blocks. The reward of solving the puzzles in the form of that cryptocurrency is the incentive to participate in the network. The PoW mechanism requires a vast amount of computing resources, which consume a significant amount of electricity. With PoS there is no need for 'hard Work'. Relative to the stake, the owner can participate in validating the next block and earn the incentive.
Block selection variants
Proof of stake must have a way of defining the next valid block in any blockchain. Selection by account balance would result in (undesirable) centralization, as the single richest member would have a permanent advantage. Instead, several different methods of selection have been devised.
Coin age-based selection
Peercoin's proof-of-stake system combines randomization with the concept of "coin age", a number derived from the product of the number of coins multiplied by the number of days the coins have been held.
Coins that have been unspent for at least 30 days begin competing for the next block. Older and larger sets of coins have a greater probability of signing the next block. However, once a stake of coins has been used to sign a block, it must start over with zero "coin age" and thus wait at least 30 more days before signing another block. Also, the probability of finding the next block reaches a maximum after 90 days in order to prevent very old or very large collections of stakes from dominating the blockchain.[non-primary source needed]
This process secures the network and gradually produces new coins over time without consuming significant computational power.[unreliable source?]
Criticism
Some authors[non-primary source needed][non-primary source needed] argue that proof of stake is not an ideal option for a distributed consensus protocol. One issue that can arise is the "nothing-at-stake" problem, wherein block generators have nothing to lose by voting for multiple blockchain histories, thereby preventing consensus from being achieved. Because unlike in proof-of-work systems, there is little cost to working on several chains. Some cryptocurrencies are vulnerable to Fake Stake attacks, where an attacker uses no or very little stake to crash an affected node.
Notable attempts to solve these problems include:
Peercoin is the first cryptocurrency that applied the concept of PoS.[citation needed] In its early stages, it used centrally broadcast checkpoints signed under the developer's private key. No blockchain reorganization was allowed deeper than the last known checkpoints. Checkpoints are opt-in as of v0.6 and are not enforced now that the network has reached a suitable level of distribution.[citation needed]
Ethereum's suggested Slasher protocol allows users to "punish" the cheater who forges on top of more than one blockchain branch.[non-primary source needed] This proposal assumes that one must double-sign to create a fork and that one can be punished for creating a fork while not having stake. However, Slasher was never adopted; Ethereum developers concluded proof of stake is "non-trivial", opting instead to adopt a proof-of-work algorithm named Ethash.[non-primary source needed]
Nxt's protocol only allows reorganization of the last 720 blocks.[non-primary source needed] However, this merely rescales the problem: a client may follow a fork of 721 blocks, regardless of whether it is the tallest blockchain, thereby preventing consensus.
Not trust-demanding: The way cryptocurrencies are built means that you don’t have to trust anyone in the system in order for it to work.1080 ethereum
создатель bitcoin
carding bitcoin
bitcoin терминалы bitcoin future bitcoin tor bitcoin приложения bitcoin купить ethereum сайт
tether app bitcoin nachrichten daemon monero daemon monero bitcoin play трейдинг bitcoin bitcoin оборудование сборщик bitcoin разработчик ethereum bitcoin casino the ethereum time bitcoin кости bitcoin win bitcoin python bitcoin rates bitcoin lurkmore bitcoin
bitcoin gadget
Basically, the dispute between Bitcoin and Bitcoin Cash is whether Bitcoin should be both a settlement layer and a transaction layer (and thus not be perfect at either of those roles), or whether it should maximize itself as a settlement layer, and allow other networks to build on top of it to optimize for transaction speed and throughput.investment bitcoin ethereum gas bitcoin алгоритм
short bitcoin mindgate bitcoin bitcoin fpga сигналы bitcoin bitcoin путин депозит bitcoin iobit bitcoin bitcoin collector testnet bitcoin bitcoin ротатор
tether майнинг mine ethereum hit bitcoin bitcoin вектор code bitcoin создатель bitcoin bitcoin conference ethereum russia счет bitcoin love bitcoin short bitcoin boxbit bitcoin new bitcoin foto bitcoin service bitcoin bitcoin перспектива rx470 monero
monero calc love bitcoin monero btc ethereum poloniex bitcoin faucet фарм bitcoin bitcoin робот bitcoin best cryptocurrency market bitcoin софт monero js bitcoin покупка график monero
bitcoin 2 credit bitcoin 100 bitcoin card bitcoin miningpoolhub ethereum часы bitcoin компиляция bitcoin покер bitcoin casino bitcoin bitcoin price анонимность bitcoin ethereum com продать monero bitcoin parser
fork bitcoin bitcoin get хешрейт ethereum bitcoin currency ico monero coingecko bitcoin bitcoin перспективы check bitcoin rise cryptocurrency bitcoin 100 bitcoin apk разработчик ethereum bitcoin instaforex x2 bitcoin
bitcoin etf
algorithm bitcoin bitcoin книга free monero monero обменять bitcoin казино bitcoin торговать bitcoin приложение ethereum падает bitcoin value bitcoin генератор ethereum падает bitcoin 2048
bitcoin валюта email bitcoin
best cryptocurrency bitcoin location
конвертер bitcoin ethereum metropolis индекс bitcoin bitcoin official ethereum отзывы ethereum упал обвал ethereum bitcoin hash ethereum статистика bitcoin исходники форк bitcoin bitcoin книга bitcoin комиссия проблемы bitcoin зарегистрироваться bitcoin aliexpress bitcoin tether 2 bitcoin сервера bitcoin forums ethereum vk generator bitcoin
bitcoin мерчант bitcoin mmm blogspot bitcoin cryptocurrency calculator 33 bitcoin
bitcoin transaction Now that you know how to set up your Litecoin mining hardware, let’s consider some of the risks.Telegram is not intended to bring revenue,solo bitcoin bitcoin завести bitcoin пополнить bitcoin block monero cpuminer bitcoin куплю bitcoin обзор keystore ethereum secp256k1 bitcoin clicker bitcoin bitcoin cms trezor bitcoin bitcoin skrill transaction bitcoin pool monero ethereum курсы monero faucet king bitcoin A rough overview of the process to mine bitcoins involves:ethereum rig monero client c bitcoin javascript bitcoin 1 ethereum bitcoin elena forex bitcoin bear bitcoin рулетка bitcoin 5 bitcoin bitcoin мастернода time bitcoin bitcoin обозреватель bitcoin фото bitcoin earnings bitcoin прогноз monero erc20 ethereum
ethereum geth
Let’s look at why you need all these things to create a successful cryptocurrency project.компьютер bitcoin half bitcoin monero proxy bitcoin лохотрон bitcoin коллектор bitcoin кости bitcoin зебра bitcoin background bitcoin зарегистрироваться cryptocurrency analytics bitcoin рухнул tether wifi tether mining auto bitcoin china cryptocurrency выводить bitcoin calculator ethereum bitcoin мастернода tether wallet Sometimes you may want to mine a more volatile altcoin like MWC which is superior for scalability, privacy, anonymity and fungibility by utilizing MimbleWimble in the base layer.video bitcoin blue bitcoin робот bitcoin bip bitcoin bitcoin frog будущее ethereum polkadot su tether mining bitcoin markets хешрейт ethereum fake bitcoin bcc bitcoin machine bitcoin bitcoin вывод wisdom bitcoin
криптовалюта tether bitcoin atm etf bitcoin bitcoin fan ethereum краны
account bitcoin 1000 bitcoin Scriptingсложность monero 4 bitcoin get bitcoin trezor ethereum биржа ethereum monero майнить инструкция bitcoin майнер bitcoin ethereum игра bitcoin converter apple bitcoin работа bitcoin bitcoin луна collector bitcoin
исходники bitcoin bitcoin rpc запросы bitcoin cryptonight monero конвертер ethereum monero криптовалюта hit bitcoin bazar bitcoin майн bitcoin asic ethereum комиссия bitcoin best bitcoin ethereum faucet xronos cryptocurrency
coffee bitcoin bitcoin service dark bitcoin ethereum blockchain
instant bitcoin siiz bitcoin капитализация ethereum reward bitcoin bitcoin приложения bitcoin мониторинг
падение ethereum приложения bitcoin monero proxy bitcoin компьютер trinity bitcoin bitcoin boxbit bitcoin python cryptonight monero разработчик bitcoin flypool monero видео bitcoin
airbitclub bitcoin poloniex ethereum
алгоритмы ethereum
форумы bitcoin ethereum обменники bitcointalk monero bitcoin statistics bootstrap tether bitcoin торговать bitcoin register vip bitcoin linux ethereum bitcoin вебмани linux bitcoin bitcoin официальный bitcoin pizza bitfenix bitcoin перевести bitcoin bitcoin добыть