Delegated Proof Of Stake (DPoS)
Definition
DPoS is a consensus mechanism governed by a select number of delegate nodes and aims to speed up the process of transaction verification and block creation in decentralized blockchain networks.
DPoS is a consensus mechanism known by the abbreviation Delegated Proof of Stake and is used to speed up the process of transaction verification and block generation in decentralized blockchain networks. In this mechanism, contributors to the blockchain are managed by a certain number of recognized or delegate nodes chosen by token holders. These delegate nodes are responsible for verifying transactions on the network and creating new blocks. DPoS is considered an improved version of the PoS mechanism, offering benefits such as faster transaction speeds and lower energy consumption. It was developed by Dan Larimer and is used especially in blockchain projects such as EOS.
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