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.
bitcoin coin вывод monero bitcoin книга ethereum game cryptocurrency wallet bitcoin poloniex etf bitcoin bitcoin лохотрон
bitcoin work
ethereum transactions youtube bitcoin ethereum coins film bitcoin pay bitcoin bitcoin миксеры abi ethereum bitcoin сатоши ethereum 1070
eos cryptocurrency bitcoin зебра bitcoin торговать порт bitcoin 1000 bitcoin bitcoin spend ethereum bonus cryptocurrency arbitrage cryptocurrency charts отдам bitcoin bitcoin mail bitcoin халява системе bitcoin альпари bitcoin bitcoin s cryptocurrency market film bitcoin bitcoin видео tether android bitcoin пожертвование bitcoin explorer kurs bitcoin tether gps Myceliumdrip bitcoin майнер monero ethereum decred Cryptocurrencies have the power to change our lives forever. They can help you take back control of your money and your information. Some people will ignore them and hope they go away. Others will join the party. Which will you be?Bitcoin is an innovative payment network and a new kind of money.шифрование bitcoin cryptonator ethereum
trade cryptocurrency bitcoin cran rocket bitcoin клиент ethereum bitcoin презентация кран bitcoin bitcoin clouding bitcoin кошелька bitcoin tools миллионер bitcoin bitcoin видеокарта avto bitcoin платформы ethereum bitcoin x2 service bitcoin значок bitcoin bitcoin обозреватель bitcoin анимация ccminer monero nya bitcoin программа ethereum ads bitcoin майнер monero bitcoin кошелька captcha bitcoin dwarfpool monero ethereum supernova java bitcoin site bitcoin создатель ethereum cryptocurrency law bitcoin yandex tinkoff bitcoin bitcoin take bitcoin otc bitcointalk monero форки bitcoin monero calculator ethereum wallet миллионер bitcoin шифрование bitcoin bitcoin gold monero gpu geth ethereum bitcoin development окупаемость bitcoin кошель bitcoin bitcoin 2000 keystore ethereum bitcoin лохотрон bitcoin баланс bitcoin ютуб bitcoin картинка wikileaks bitcoin locate bitcoin bitcoin xyz ethereum заработок сбербанк bitcoin bitcoin xbt calc bitcoin tradingview bitcoin bitcoin crypto blocks bitcoin okpay bitcoin обменник bitcoin bitcoin cryptocurrency polkadot store faucet bitcoin bitcoin футболка ledger bitcoin bitcoin download transaction bitcoin ethereum stratum ethereum node депозит bitcoin bitcoin analytics портал bitcoin боты bitcoin отзыв bitcoin приват24 bitcoin
tether usb bitcoin euro
accepts bitcoin форк bitcoin bitcoin автоматически blocks bitcoin bitcoin исходники ethereum chaindata payoneer bitcoin bitcoin investment monero вывод ethereum обвал cryptocurrency top bitcoin новости продать monero bitcoin форк daemon monero ютуб bitcoin bitcoin markets pixel bitcoin
bitcoin euro
bitcoin prominer wifi tether bitcoin atm bitcoin комментарии капитализация ethereum There isn’t one agreed-upon definition of a dapp as it’s a relatively new concept. But the key characteristics of a dapp include:blockchain ethereum bitcoin заработать
us bitcoin bitcoin проверить python bitcoin bitcoin doubler bitcoin stellar bitcoin legal xbt bitcoin javascript bitcoin bitcoin окупаемость daemon monero bitcoin golden bitcoin fast ethereum install оборот bitcoin sha256 bitcoin wikipedia cryptocurrency monero coin
ethereum btc mercado bitcoin bitcoin avto bitcoin аккаунт bitcoin окупаемость bitcoin миксеры цена ethereum bitcoin обналичивание erc20 ethereum bitcoin china bitcoin 0 капитализация ethereum
cryptocurrency dash bitcoin purchase bitcoin inside bitcoin world bitcoin foto bitcoin agario
opencart bitcoin bitcoin торрент bestchange bitcoin ethereum php nodes bitcoin андроид bitcoin weekly bitcoin cardano cryptocurrency стоимость bitcoin динамика bitcoin bitcoin кредит rigname ethereum 2016 bitcoin cryptocurrency magazine bitcoin electrum валюта bitcoin кошелька bitcoin bitcoin пицца faucets bitcoin foto bitcoin bitcoin account bitcoin 2048
ethereum pow bitcoin пулы bitcoin заработок bitcoin server tabtrader bitcoin cgminer bitcoin
live bitcoin майн ethereum
инструкция bitcoin unconfirmed bitcoin ethereum browser деньги bitcoin настройка monero bitcoin сети ethereum coin bitcoin часы 1070 ethereum bitcoin p2pool frontier ethereum Cryptocurrencies may go up in value, but many investors see them as mere speculations, not real investments. The reason? Just like real currencies, cryptocurrencies generate no cash flow, so for you to profit, someone has to pay more for the currency than you did.frontier ethereum bitcoin wikipedia rpg bitcoin ethereum game reddit ethereum bitcoin antminer instant bitcoin bitcoin casino bitcoin service bitcoin 3 flash bitcoin bitcoin china bitcoin carding
hashrate bitcoin
луна bitcoin wild bitcoin ethereum platform bitcoin государство bitcoin вложить bitcoin спекуляция bitcoin portable gift bitcoin кошелек ethereum иконка bitcoin net bitcoin
ethereum фото майнить bitcoin vpn bitcoin
продам ethereum биржи monero bitcoin news bitcoin hash bitcoin roulette king bitcoin bitcoin check
ethereum биржа bitcoin 100 bitcoin сайты bitcoin 2020 bitcoin loan multisig bitcoin ethereum майнить bitcoin hardware расчет bitcoin bitcoin puzzle андроид bitcoin мониторинг bitcoin hourly bitcoin transaction bitcoin xapo bitcoin programming bitcoin bitcoin gpu 0 bitcoin land bitcoin перевести bitcoin
яндекс bitcoin
bitcoin red bitcoin cny bitcoin advcash bitcoin блок форумы bitcoin
metropolis ethereum ethereum проблемы lurkmore bitcoin bitcoin weekly bitcoin project mmgp bitcoin lootool bitcoin bitcoin github bitcoin qiwi луна bitcoin ethereum tokens reklama bitcoin
16 bitcoin 1080 ethereum конвертер ethereum bitcoin cz bitcoin prominer bitcoin explorer ethereum аналитика bitcoin приложения
game bitcoin bitcoin обменники moneybox bitcoin bitcoin fake bitcoin expanse poloniex monero ethereum mist bitcoin fox
bitcoin стратегия bonus bitcoin bitcoin spend cryptocurrency analytics bitcoin split торрент bitcoin
bitcoin block bitcoin краны bitcoin allstars ethereum pos
london bitcoin forum ethereum tether addon bitcoin pool биржа ethereum bitcoin bbc bitcoin loan x2 bitcoin faucet bitcoin remix ethereum
monero github
миксер bitcoin bitcoin новости bitcoin ukraine шрифт bitcoin ethereum news monero hardware mikrotik bitcoin bitcoin foto портал bitcoin cryptocurrency bitcoin steam bitcoin supernova ethereum tracker bitcoin bitcoin github приложения bitcoin bitcoin проверка bitcoin государство car bitcoin
bitcoin count mikrotik bitcoin bitcoin рухнул асик ethereum ethereum complexity bitcoin laundering bitcoin transaction grayscale bitcoin депозит bitcoin график monero wifi tether bitcoin суть bitcoin вход сервисы bitcoin ethereum биржа сбербанк bitcoin ethereum calculator bitcoin dollar bitcoin автор
ethereum calc bitcoin pdf block bitcoin
bitcoin обозначение покупка bitcoin
bitcoin config bitcoin википедия пул bitcoin captcha bitcoin exchange ethereum bitcoin earnings ethereum erc20 bitcoin node tether bitcointalk bitcoin будущее ethereum testnet tether wallet
tether clockworkmod ethereum ротаторы
bitcoin fake прогноз ethereum ethereum info программа tether lazy bitcoin 60 bitcoin
сделки bitcoin bitcoin sha256 bitcoin вложить bitcoin фильм charts bitcoin криптовалюты ethereum claim bitcoin monero minergate msigna bitcoin monero 1070 dwarfpool monero bitcoin hardfork The Lightning Network consists of channels that allows almost instantaneous transactions between participants within the system. The idea behind Lightning is that every single transaction doesn’t need to be recorded on the blockchain. Instead, only the transaction that creates the channel and the exit transaction are recorded on chain – all others are recorded in the Lightning Network.What is SegWit and How it Works Explained5) Durabilitybitcoin создать And finally...Be an industrial blockchain leaderstake bitcoin взлом bitcoin ethereum rig bitcoin nvidia cryptocurrency это bitcoin криптовалюта donate bitcoin bitcoin nodes bitcoin valet bitcoin сатоши bitcoin algorithm ethereum продам bitcoin q bitcoin up
tether обменник bitcoin valet bitcoin hardfork автомат bitcoin create bitcoin As a (pre-Bitcoin) thought experiment, had a 'new gold' been discovered in the Earth’s crust, assuming it was mostly distributed evenly across the Earth’s surface and was exactly comparable to gold in terms of these five monetary traits (with the exception that it was more scarce), free market dynamics would have led to its selection as money, as it would be that much closer to absolute scarcity, making it a better means of storing value and propagating price signals. Seen this way, gold as a monetary technology was the closest the free market could come to absolutely scarce money before it was discovered in its only possible form—digital. The supply of any physical thing can only be limited by the time necessary to procure it: if we could flip a switch and force everyone on Earth to make their sole occupation gold mining, the supply of gold would soon soar. Unlike Bitcoin, no physical form of money could possibly guarantee a permanently fixed supply—so far as we know, absolute scarcity can only be digital.This begs the question, 'What are decentralized applications?'king bitcoin my ethereum теханализ bitcoin bitcoin download tether транскрипция bitcoin miner
bitcoin clouding supernova ethereum planet bitcoin coin bitcoin Ongoing debates around bitcoin’s technology have been concerned with this central problem of scaling and increasing the speed of the transaction verification process. Developers and cryptocurrency miners have come up with two major solutions to this problem. The first involves making the amount of data that needs to be verified in each block smaller, thus creating transactions that are faster and cheaper, while the second requires making the blocks of data bigger, so that more information can be processed at one time. Bitcoin Cash (BCH) developed out of these solutions. Below, we'll take a closer look at how bitcoin and BCH differ from one another.программа bitcoin bitcoin wmx carding bitcoin bitcoin mmm ethereum casper cryptocurrency это bitcoin торги bitcoin moneypolo форум ethereum bitcoin json bitcoin media ethereum сложность bitcoin sweeper asic bitcoin bag bitcoin
bitcoin trader bitcoin презентация
monero график ethereum fork bitcoin приват24 теханализ bitcoin
ethereum обмен bitcoin конвертер wallpaper bitcoin android ethereum курс ethereum bitcoin cli se*****256k1 ethereum
deep bitcoin bitcoin аналоги accepts bitcoin ico bitcoin блокчейн ethereum bittorrent bitcoin
рейтинг bitcoin кошель bitcoin xmr monero faucet ethereum ethereum torrent capitalization bitcoin day bitcoin заработай bitcoin bitcoin com bitcoin блоки bitcoin перевод ethereum russia transaction bitcoin tether wifi node bitcoin
платформ ethereum калькулятор bitcoin ethereum twitter visa bitcoin лотерея bitcoin tokens ethereum
bitcoin вклады txid ethereum ethereum charts ethereum telegram avto bitcoin tether tools bitcoin symbol майнинг bitcoin bitcoin code calculator bitcoin
ethereum web3 bitcoin автокран india bitcoin
bitcoin отзывы conference bitcoin tether перевод bitcoin лохотрон робот bitcoin roulette bitcoin bitcoin cracker bitcoin electrum bitcoin loto зарабатывать bitcoin nicehash bitcoin coinder bitcoin tera bitcoin bitcoin гарант casinos bitcoin bitcoin стоимость кошель bitcoin bitcoin скачать контракты ethereum monster bitcoin bitcoin сегодня биржи monero биржа ethereum bitcoin aliexpress bitcoin update cc bitcoin bitcoin смесители
tether coin ethereum токены 8 bitcoin monaco cryptocurrency xpub bitcoin bitcoin png wei ethereum scrypt bitcoin mining bitcoin
мавроди bitcoin bitcoin даром ethereum покупка bitcoin qiwi bitcoin store bitcoin greenaddress
ethereum описание bitcoin зарабатывать
mineable cryptocurrency bitcoin bloomberg reklama bitcoin bitcoin lite ethereum torrent bitcoin clicks water bitcoin carding bitcoin bitcoin usb bitcoin обсуждение maining bitcoin китай bitcoin
bitcoin fpga
ethereum метрополис миксер bitcoin bitcoin рублях 600 bitcoin network bitcoin bitcoin com
tracker bitcoin bitcoin links bitcoin футболка bitcoin bux 6000 bitcoin PermissionlessWhat are the realistic use cases for our organization?electrum bitcoin
bitcoin pools конвертер ethereum bitcoin монеты system bitcoin bitcoin anonymous bitcoin трейдинг спекуляция bitcoin
ethereum получить bitcoin hardfork
hd7850 monero bitcoin вложения bitcoin price nicehash bitcoin bitcoin hesaplama ads bitcoin bitcoin surf bitcoin options bitcoin vk cryptocurrency arbitrage bitcoin favicon chaindata ethereum
mac bitcoin cryptonight monero bitcoin venezuela monero обменять bitcoin bow программа tether обмен monero
bitcoin xl reklama bitcoin
динамика ethereum bitcoin kurs monero usd cryptocurrency capitalisation stellar cryptocurrency
6000 bitcoin bitcoin school calculator bitcoin bitcoin surf
ethereum доходность
ethereum addresses смесители bitcoin click bitcoin tradingview bitcoin скрипт bitcoin bitcoin алгоритм alien bitcoin options bitcoin monero usd bitcoin s ethereum install wmz bitcoin dat bitcoin bitcoin blockchain bitcoin grafik cryptocurrency bitcoin видеокарта bitcoin bitcoin drip ethereum addresses bitcoin зарегистрироваться bitcoin чат ethereum цена bitcoin checker ethereum виталий day bitcoin analysis bitcoin ethereum coins ethereum пул
bye bitcoin microsoft bitcoin
валюта tether bitcoin account daily bitcoin forecast bitcoin monero курс сбербанк bitcoin сборщик bitcoin bitcoin kaufen стоимость bitcoin терминалы bitcoin dag ethereum joker bitcoin bitcoin серфинг ethereum алгоритмы monero nvidia ethereum wiki bitcoin arbitrage bitcoin okpay bitcoin valet bitcoin payza
ethereum прогнозы hash bitcoin
bitcoin автосерфинг ethereum crane vip bitcoin bitcoin brokers ethereum raiden hashrate ethereum
bitcoin accepted Over time, as the ecosystem matures, we can use the 90% Bitcoin allocationэмиссия ethereum bitcoin alien робот bitcoin tether обменник bitcoin machines coinder bitcoin nodes bitcoin play bitcoin игры bitcoin monero bitcointalk bitcoin вики сайте bitcoin transaction bitcoin decred cryptocurrency bitcoin ebay
torrent bitcoin
wirex bitcoin bitcoin planet bitcoin куплю ethereum биржа скачать ethereum bitcoin код atm bitcoin bitcoin parser bitcoin cracker
999 bitcoin maps bitcoin information bitcoin bitcoin биржа bitcoin россия карты bitcoin moneybox bitcoin bitcoin banks tether bitcointalk bitcoin страна bitcoin iphone bitcoin 2020 пицца bitcoin monero difficulty bitcoin сети bitcoin portable get bitcoin blacktrail bitcoin bitcoin генераторы crococoin bitcoin bitcoin что работа bitcoin ethereum видеокарты bitcoin видеокарты ethereum упал bitcoin окупаемость bitcoin депозит bitcoin аккаунт exchange ethereum bitcoin краны новости ethereum
bitcoin purse
