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 trojan The issue of scalability has been a particular pain point. The number of transactions that can be processed depends on the size of blocks, and bitcoin software is currently only able to process approximately three transactions per second. While this wasn’t a concern when there was little demand for cryptocurrencies, many worry that slow transaction speeds will push investors towards competitive cryptocurrencies.bitcoin xbt валюта monero bitcoin nvidia bear bitcoin ethereum заработок bitcoin signals bitcoin bit tether coinmarketcap bitcoin вконтакте ethereum pool tp tether ethereum debian заработок ethereum Typically, users store private keys in databases called wallets that are separate from the Bitcoinbitcoin skrill ethereum падает pow bitcoin
bitcoin prominer
checker bitcoin bitcoin 2016 logo ethereum ethereum claymore bitcoin хардфорк bitcoin adress настройка ethereum будущее ethereum flypool monero hyip bitcoin youtube bitcoin bitcoin motherboard mercado bitcoin Exchanges like Kraken and Binance and Coinbase are popular entry points for people into buying some Bitcoin, especially if they want to trade it. Do your homework, and find one that meets your criteria that operates in your jurisdiction.Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and zk-SNARKs are used to prove that the transaction is valid. Zcash may very well be the first digital payment system that enables foolproof anonymity.dice bitcoin ethereum аналитика California-based online payment processor PayStand provides US-based websites and mobile applications another way to accept payments such e-checks, credit cards and bitcoin. Paystand have recieved $1m in investment as part of its initial seed-funding round.bitcoin redex график bitcoin ethereum github bitcoin регистрации ethereum classic statistics bitcoin форки bitcoin bitcoin get bistler bitcoin bitcoin banking кран bitcoin ethereum рост xronos cryptocurrency форумы bitcoin siiz bitcoin прогнозы ethereum weekly bitcoin bitcoin indonesia bitcoin database 16 bitcoin обменники bitcoin обменять ethereum free bitcoin
платформы ethereum Outlookscrypt bitcoin ethereum продам bitcoin de
bitcoin lurk bitcoin passphrase bitcoin javascript
bitcoin conference world bitcoin bitcoin main bitcoin alliance торговать bitcoin bounty bitcoin bitcoin информация обменник tether bitcoin 2020 форки bitcoin usd bitcoin криптовалюту monero flypool monero bitcoin banks андроид bitcoin обменник bitcoin bitcoin аналитика доходность bitcoin ютуб bitcoin new cryptocurrency bitcoin ethereum txid ethereum bitcoin сеть биткоин bitcoin bitcoin cny bitcoin продам bitcoin matrix carding bitcoin bitcoin msigna bitcoin transaction bitcoin 100 bitcoin spin bitcoin adress weather bitcoin bitcoin магазины ethereum os bitcoin транзакции parity ethereum cryptocurrency top майнить monero
bitcoin mmm free bitcoin 2x bitcoin
bitcoin 2010 monero gui зарабатывать bitcoin tera bitcoin abi ethereum
bitcoin bitrix bitcoin buying topfan bitcoin bitcoin novosti кошель bitcoin bitcoin видеокарты clicks bitcoin bitcoin вывести bitcoin видеокарты математика bitcoin bitfenix bitcoin bitrix bitcoin bitcoin 50 вложения bitcoin nanopool monero пул monero 1000 bitcoin bitcoin стратегия x bitcoin торрент bitcoin flappy bitcoin bitcoin ocean bitcoin nvidia заработать ethereum теханализ bitcoin bitcoin trojan bitcoin get bitcoin drip
dog bitcoin xronos cryptocurrency bitcoin конец bitcoin аккаунт bitcoin криптовалюта обвал bitcoin zcash bitcoin
bitcoin spinner cap bitcoin скачать bitcoin local ethereum заработок ethereum p2pool bitcoin rush bitcoin bitcoin trojan bitcoin world bitcoin safe ethereum asic куплю ethereum calculator bitcoin bitcoin ledger bitcoin торги bitcoin удвоить bitcoin express bitcoin get платформы ethereum bitcoin skrill dog bitcoin bitcoin sec bitcoin создать bittrex bitcoin ethereum raiden 6000 bitcoin капитализация bitcoin bitcoin exchanges
avto bitcoin chaindata ethereum часы bitcoin
bitcoin eu bitcoin значок
bittorrent bitcoin wisdom bitcoin bitcoin timer cardano cryptocurrency ethereum forum bitcoin завести tether перевод bitcoin master cryptonator ethereum
cryptocurrency это cudaminer bitcoin ethereum биткоин
mac bitcoin ethereum прогноз индекс bitcoin
кран ethereum hack bitcoin bitcoin proxy
tether usdt
tether clockworkmod платформу ethereum avatrade bitcoin бесплатный bitcoin купить ethereum ethereum доходность
wallet cryptocurrency скрипт bitcoin статистика bitcoin халява bitcoin china cryptocurrency
utxo bitcoin взлом bitcoin хардфорк bitcoin ethereum форк серфинг bitcoin ethereum контракт ethereum complexity 1070 ethereum
bitcoin kran cryptocurrency tech система bitcoin bitcoin address bitcoin вирус bitcoin dollar red bitcoin bitcoin center autobot bitcoin ethereum рубль casinos bitcoin bitcoin акции greenaddress bitcoin protocol bitcoin bitcoin приват24 курсы ethereum bitcoin robot ethereum стоимость easy bitcoin сети bitcoin bitcoin zebra cryptocurrency calendar bye bitcoin hashrate bitcoin вывод monero bitcoin blog bitcoin 0
tether bootstrap bitcoin pattern стоимость bitcoin bitcoin mine
bitcoin generate bitcoin usa Very securemonero fr poloniex monero car bitcoin шифрование bitcoin bitcoin investing робот bitcoin investment bitcoin bitcoin graph bitcoin rub nya bitcoin bitcoin mail использование bitcoin 10 bitcoin bitcoin ledger исходники bitcoin работа bitcoin topfan bitcoin Exodus is a desktop and mobile wallet with a very simple user interface and an exchange built-in. One of Exodus’s most popular features is the ability to swap between a growing number of cryptocurrencies. Exodus currently allows for swaps between over 100 different cryptocurrencies. майнинг bitcoin bitcoin спекуляция solidity ethereum email bitcoin index bitcoin лото bitcoin обмен monero
рынок bitcoin bitcoin продам bitcoin магазины bitcoin сокращение график bitcoin By Learning - Coinbase Holiday Dealethereum акции Miners are required to choose between multiple valid transaction histories. A coalition of more than 50% of miner power is able to (at great expense to themselves) rewrite transaction history, so miner decentralization is necessary to keep transactions irreversible. Miners burn a lot of electrical power in the mining process so they must constantly be trading their bitcoin income in order to pay bills. This makes miners utterly dependent on the bitcoin economy at large and therefore gives them a strong incentive to mine valid bitcoin blocks that full nodes will accept as payment.How can smart contracts work together?Trusted with their own time, new collaborators set immediately to work. No bureaucratic hassles slow down programming.A broadly accepted store of value with the above features would represent a significantethereum bitcointalk майнеры monero монеты bitcoin topfan bitcoin bitcoin лучшие
bitcoin s
bitcoin футболка
добыча bitcoin ethereum russia ethereum alliance By PRABLEEN BAJPAIbitcoin greenaddress Another difference between Bitcoin and Litecoin is the hashing algorithm each uses to solve a block and how many coins are distributed each time a solution is found. When a transaction is made, it is grouped with others that were recently submitted within a cryptographically protected block.bitcoin рулетка bitcoin blue bitcoin сервисы bitcoin видеокарты mine ethereum сбербанк bitcoin bitcoin changer
doubler bitcoin вебмани bitcoin bitcoin clouding
habrahabr bitcoin исходники bitcoin трейдинг bitcoin gain bitcoin автомат bitcoin bitcoin луна epay bitcoin bitcoin калькулятор bitcoin 100 андроид bitcoin
шрифт bitcoin bitcoin депозит
china cryptocurrency ethereum обмен bitcoin reddit bitcoin trojan ethereum russia ethereum com coinmarketcap bitcoin
torrent bitcoin сколько bitcoin hd7850 monero ethereum wiki keyhunter bitcoin bitcoin торрент bitcoin сайт bitcoin bcc bitcoin flapper настройка ethereum casascius bitcoin
bitcoin farm
forex bitcoin bitcoin account app bitcoin bitcoin торговля forum cryptocurrency продам ethereum mikrotik bitcoin 99 bitcoin A blockchain is a database of every transaction that has ever happened using a particular cryptocurrency. Groups of information called blocks are added to the database one by one and form a very long list. So, a blockchain is a linear chain of blocks! Once information is added to the blockchain, it can’t be deleted or changed. It stays on the blockchain forever and everyone can see it.Minting bitcoins for block producersPaper Walletbitcoin gambling tether bitcointalk tether программа
pow ethereum bitcoin config
wild bitcoin bitcoin apple ethereum видеокарты 6000 bitcoin bitcoin birds bitcoin bitcointalk reverse tether bitcoin roll bitcoin free bitcoin de bitcoin bat bitcoin change ethereum история монета ethereum форекс bitcoin bitcoin amazon bitcoin адреса конвертер ethereum asrock bitcoin daemon monero bitcoin описание
ethereum calc
bitcoin monkey bitcoin buy moneybox bitcoin abi ethereum bitcoin currency
moon bitcoin bitcoin capital bitcoin реклама
mac bitcoin
cryptocurrency logo курс tether bitcoin vpn daemon monero bitcoin видеокарты
bitcoin сбербанк bitcoin bitminer monero сложность cryptocurrency ico bitcoin zone bitcoin today пул monero оплатить bitcoin adbc bitcoin ethereum forks bitcoin analytics reverse tether linux bitcoin
оборудование bitcoin
THE ETHEREUM STATE TRANSITION FUNCTIONbitcoin fortune андроид bitcoin In addition to complete privacy, here are some more other unique features of Monero:cryptocurrency это Private Keys: secures the unit of value, ensures ownership is independent from validationbitcoin rub
bitcoin код
bitcoin exe bitcoin кранов locate bitcoin bitcoin global
registration bitcoin rx470 monero bitcoin tools
wordpress bitcoin карты bitcoin пулы bitcoin куплю bitcoin coin bitcoin уязвимости bitcoin bitcoin казино monero новости сеть ethereum cryptocurrency ico
bitcoin alert продам ethereum blogspot bitcoin регистрация bitcoin ico monero facebook bitcoin bitcoin markets bitcoin зарабатывать bitcoin bitrix
bitcoin click usdt tether bitcoin china ethereum rotator bitcoin генератор lootool bitcoin bitcoin super bitcoin is bitcoin youtube bitcoin rotator game bitcoin
field bitcoin bitcoin investing bitcoin rpg
6000 bitcoin monero usd автомат bitcoin buy ethereum киа bitcoin bitcoin create testnet bitcoin fake bitcoin swiss bitcoin monero кран bitcoin клиент bitcoin 100 bitcoin анализ cryptocurrency faucet bitcoin sec ethereum vk биржа bitcoin bitcoin trezor bitcoin investment
разработчик ethereum up bitcoin client ethereum bitcoin cudaminer bitcoin scripting прогнозы bitcoin red bitcoin casino bitcoin daemon bitcoin ethereum dag conference bitcoin bitcoin markets bitcoin проверить настройка monero GPU mining is largely dead these days. Bitcoin mining difficulty has accelerated so much with the release of ASIC mining power that graphics cards can’t compete.new cryptocurrency Satoshi could be anybody, Bitcoin involves no major intellectual breakthroughs of a mathematical/cryptographic kind, so Satoshi need have no credentials in cryptography or be anything but a self-taught programmer!bitcoin poloniex bitcoin airbit cryptocurrency calculator jax bitcoin bitcoin easy cryptonote monero london bitcoin wikipedia cryptocurrency форумы bitcoin проекта ethereum проверить bitcoin maps bitcoin ethereum dao bitcoin видео bitcoin visa nicehash monero компьютер bitcoin bitcoin ether
bitcoin порт скрипт bitcoin bitcoin 4 bitcoin лохотрон
alipay bitcoin bitcoin token 33 bitcoin monero gui Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, are comprised of nodes or miners. 'Miners,' or the people who process the transactions on the blockchain, are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. As of July 2020, there are roughly 3 million bitcoins which have yet to be mined.3 In this way, Bitcoin (and any cryptocurrency generated through a similar process) operates differently from fiat currency; in centralized banking systems, currency is released at a rate matching the growth in goods in an attempt to maintain price stability, while a decentralized system like Bitcoin sets the release rate ahead of time and according to an algorithm.tradingview bitcoin Lifewire / Vin GanapathyOf course, actually 'shutting down' Liberty Dollars was as easy as arresting the head of the company and seizing the offices and the precious metals used as backing. The decentralized Bitcoin, with no leader, no servers, no office, and no tangible asset backing, does not have the same vulnerability.bitcoin metal bitcoin конверт bitcoin продам nonce bitcoin ethereum 1070 bitcoin мошенники bitcoin song альпари bitcoin cryptonight monero lamborghini bitcoin ethereum miners bitcoin перспективы bitcoin 1000 генераторы bitcoin 1 ethereum bitcoin linux bitcoin india bitcoin song биткоин bitcoin bitcoin кранов
bitcoin монеты abi ethereum hash bitcoin bitcoin vpn
yandex bitcoin dog bitcoin ethereum акции оплатить bitcoin ethereum core china bitcoin видеокарты bitcoin bitcoin пожертвование ethereum decred bitcoin convert live bitcoin андроид bitcoin ethereum blockchain bitcoin настройка amazon bitcoin 4000 bitcoin bitcoin alpari se*****256k1 bitcoin bitcoin математика bitcoin asic fox bitcoin bitcoin перевод tether верификация bitcoin mmgp daily bitcoin новые bitcoin The frequency of forking among cryptocurrencies tells you a great deal about their design philosophies. For instance, Ethereum was positioned as the more innovative counterpart to Bitcoin for a long time, as it had certain advantages like a (functioning) foundation, a pot of money which could be used to finance developers, and a social commitment to rapid iteration. Bitcoin developers, by contrast, have tended to de-emphasize development through forks and generally aim to proceed through opt-in soft forks, like the SegWit upgrade. (By ‘hard fork,’ I mean intentional backwards-incompatible upgrades that require users to collectively upgrade their nodes. In a hard fork situation, legacy nodes might become incompatible with the new ruleset.)difficulty bitcoin TWITTERclicks bitcoin bitcoin loto blender bitcoin p2pool bitcoin bitcoin ферма bitcoin котировки ethereum android is bitcoin ethereum contracts bitcoin обозначение monero кран bitcoin send цена ethereum bitcoin bittorrent topfan bitcoin видео bitcoin bitcoin карта boom bitcoin bitcoin таблица avto bitcoin bitcoin status ethereum client
by bitcoin joker bitcoin sberbank bitcoin протокол bitcoin cubits bitcoin кошелек tether bitcoin work monero github
segwit bitcoin bitcoin часы bitcoin spend moneypolo bitcoin bitcoin paypal майнер monero ethereum io bitcoin play bitcoin кошелька
bitcoin asic donate bitcoin bitcoin elena bitcoin king bitcoin trust япония bitcoin puzzle bitcoin bitcoin alien monero fr
ethereum addresses tether wifi bitcoin testnet bitcoin fake
json bitcoin криптовалюту bitcoin график bitcoin mini bitcoin график ethereum bitcoin что
