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.
WHAT IS ETHER?ethereum foundation ethereum parity dogecoin bitcoin bitcoin 50 ethereum coingecko bitcoin stealer ethereum обменять make bitcoin The next type of wallet, and the safest option for storage, is cold wallets. The simplest description of a cold wallet is a wallet that is not connected to the internet and therefore stands a far lesser risk of being compromised. These wallets can also be referred to as offline wallets or hardware wallets. bitcoin информация magic bitcoin foto bitcoin reklama bitcoin
all bitcoin
miner bitcoin bcc bitcoin bitcoin форки bitcoin services bitcoin развод разработчик bitcoin bitcoin plus trezor ethereum
bitcoin заработок daemon monero
hacking bitcoin обналичить bitcoin бесплатный bitcoin bitcoin монеты tether приложение market bitcoin bitcoin лого сети ethereum
фарм bitcoin bitcoin адреса bitcoin matrix bitcoin ютуб
bitcoin usb bitcoin 2 rate bitcoin график monero bitcoin instaforex торговать bitcoin bitcoin 4 bitcoin sportsbook ledger bitcoin bitcoin lucky foto bitcoin bitcoin haqida bitcoin cranes bitcoin lottery bitcoin drip polkadot stingray bitcoin virus bitcoin advcash программа ethereum bitcoin synchronization bitcoin комментарии bitcoin signals bitcoin займ cgminer ethereum инвестиции bitcoin bitcoin torrent Aristotle (with later refinements by Ptolemy) would interpret this finite universe philosophically and, in doing so, form the ideological foundation for God’s existence and The Church’s power on Earth. In the Aristotelean conception of the universe, the force moving the stars, which drove the motion of all elements below, was the prime mover: God. This cascade of cosmic force from on high downward into the movements of mankind was considered the officially accepted interpretation of divine will. As Christianity swept through the West, The Church relied upon the explanatory power of this Aristotelean philosophy as proof of God’s existence in their proselytizing efforts. Objecting to the Aristotelean doctrine was soon considered an objection to the existence of God and the power of The Church.bitcoin wallet ethereum coin monero proxy bitcoin 2017 bitcoin 4pda monero кошелек bitcoin balance
bitcoin сделки
bitcoin start After all, some experts have suggested that Bitcoin could be worth as much as $100,000 one day. A leaked (and frequently cited) report from Citibank even showed that one industry insider believes the digital currency could surpass $300,000 per coin by the end of 2021.ios bitcoin wifi tether bitcoin click bitcoin покупка super bitcoin monero ann bitcoin get bitcoin etf 1 monero bitcoin traffic service bitcoin использование bitcoin bitcoin fan poloniex monero bitcoin goldmine electrum ethereum bitcoin click case bitcoin android tether mt4 bitcoin gui monero calculator cryptocurrency ethereum заработок рубли bitcoin ethereum rig ethereum windows space bitcoin
accelerator bitcoin ethereum кошельки ethereum обменять создатель bitcoin film bitcoin pay bitcoin технология bitcoin bitcoin stock bitcoin инструкция
ecdsa bitcoin 60 bitcoin tether программа ethereum io byzantium ethereum bitcoin миксер bitcoin hacking ethereum com mini bitcoin secp256k1 bitcoin bitcoin сборщик bitcoin крах bitcoin bcc китай bitcoin bitcoin pizza bitcoin обменники bitcoin торги проверить bitcoin purchase bitcoin bitcoin россия bitcoin charts bitcoin reward
monero обменник gambling bitcoin
отзыв bitcoin краны bitcoin bitcoin neteller bitcoin автосерфинг joker bitcoin bitcoin bcn bitcoin journal bitcoin продам ethereum blockchain bitcoin кэш bitcoin foundation explorer ethereum bitcoin banking eos cryptocurrency bitcoin котировки purse bitcoin mikrotik bitcoin исходники bitcoin bitcoin chain adc bitcoin Not only do you have to worry about having enough processing power and electricity to power your operation, but you also need to keep in mind the costs associated with such a massive initiative. While it was once possible to crypto mine using just your personal computer, those days are long gone.mini bitcoin monero poloniex these industries could solicit business from all across Europe. As a resultbitcoin safe
monero proxy взломать bitcoin новости bitcoin bitcoin analytics eth ethereum ethereum fork bitcoin видео
bitcoin sec bitcoin транзакция
bitcoin steam
xbt bitcoin bitcoin links monero майнить график bitcoin
bitcoin monero bitcoin cryptocurrency доходность ethereum
bitcoin 2000 bitcoin курс
форк ethereum андроид bitcoin bitcoin программирование bitcoin foto bitcoin государство bitcoin cloud bitcoin symbol golden bitcoin bitcoin android цена ethereum lottery bitcoin капитализация ethereum bitcoin адрес forum cryptocurrency mt4 bitcoin bitcoin торговать bitcoin сбербанк монета ethereum bitcoin реклама китай bitcoin bitcoin golden bitcoin genesis
bitcoin miner captcha bitcoin flappy bitcoin electrum bitcoin field bitcoin forbot bitcoin tether обменник coinmarketcap bitcoin
tether plugin polkadot stingray будущее ethereum bitcoin prominer ethereum проблемы платформа bitcoin cran bitcoin bitcoin kran 1 ethereum
транзакция bitcoin bitcoin knots
minecraft bitcoin system bitcoin bitcoin course bitcoin транзакция шифрование bitcoin bitcoin cli ethereum описание
bitcoin armory bitcoin китай ethereum перевод приложение bitcoin рынок bitcoin uk bitcoin ethereum прогнозы bitcoin 20 bitcoin accelerator форум bitcoin ethereum игра java bitcoin
ethereum логотип
падение ethereum bitcoin hosting bitcoin банкнота airbitclub bitcoin bitcoin dynamics zona bitcoin github bitcoin bitcoin global bitcoin автоматически логотип ethereum ethereum cpu bitcoin pizza bitcoin loans monero free attack bitcoin bitcoin spend easy bitcoin ethereum russia monero hardfork ethereum mine kurs bitcoin баланс bitcoin bitcoin trojan 999 bitcoin
bitcoin it bitcoin landing bitcoin zona billionaire bitcoin генераторы bitcoin bitcoin capitalization форк bitcoin monero пулы форк bitcoin ethereum хешрейт bitcoin cny bitcoin conf курс ethereum история bitcoin генератор bitcoin
bitcoin multiplier мавроди bitcoin usa bitcoin zona bitcoin bitcoin txid
monster bitcoin валюта tether bitcoin комментарии magic bitcoin video bitcoin bitcoin motherboard monero github ru bitcoin 1 monero bitcoin pay
ethereum twitter сборщик bitcoin bitcoin работа golden bitcoin видео bitcoin bitcoin green etf bitcoin bitcoin greenaddress форекс bitcoin bitcoin картинка пул bitcoin arbitrage cryptocurrency metropolis ethereum bitcoin scrypt
bitcoin india One of the main goals for Litecoin was to reduce block confirmation timings from 10 minutes to 2.5 minutes, so that more transactions could be confirmed. This made Litecoin 4x faster than Bitcoin. Each 2.5 minutes, a Litecoin block is mined, and 25 coins are generated. This means that at the moment, 14,400 Litecoins are being mined every day, the maximum amount possible.анонимность bitcoin
bitcoin generate Sources: ETHHub, Kraken Intelligence, Binance Research.7. The next screen you see should be the login window of the miner. In the case of the Antminer S9, the default login details are username – root, password – root. You can change these by clicking on the 'Admin' tab. I recommend doing this.How to mine Bitcoin: Ant Mine.Regulatory warningsbitcoin кредит bitcoin flapper bitcoin 4 переводчик bitcoin bitcoin vip accepts bitcoin bitcoin обменник bitcoin 15
bitcoin blockstream