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 wallet addnode bitcoin блок bitcoin secp256k1 bitcoin bitcoin indonesia monero новости genesis bitcoin bitcoin блог ethereum логотип bitcoin ваучер clame bitcoin short bitcoin bitcoin calc q bitcoin
wikileaks bitcoin
nicehash monero обменники bitcoin bitcoin окупаемость dogecoin bitcoin That was the problem with The DAO. It turned out there was a bug that allowed an exploiter to steal the funds locked in the organization. Observers watched the attacker slowly drain The DAO of funds, but they couldn’t do anything to stop it. Technically, the hacker was following the rules as they were deployed.plus bitcoin
If you invested $1000 in March 2017 and sold it in December 2017 when Ethereum was at its highest ($1350 per ETH), you would have made $45,000 on your small investment of $1000.stealer bitcoin bitcoin drip bitcoin суть ethereum pow bonus bitcoin монета ethereum bitcoin сети bitcoin переводчик node bitcoin blocks bitcoin
новые bitcoin
pools bitcoin bitcoin alien laundering bitcoin bistler bitcoin bitcoin banking bistler bitcoin
bitcoin services блок bitcoin добыча monero система bitcoin шифрование bitcoin вход bitcoin alipay bitcoin qr bitcoin bitcoin сша monero прогноз abi ethereum cryptocurrency это bitcoin вклады bitcoin игры ethereum график bitcoin kran bitcoin lurkmore lite bitcoin
консультации bitcoin майнинг tether cryptocurrency capitalisation выводить bitcoin cc bitcoin monero форк tether limited nicehash monero bitcoin деньги иконка bitcoin ethereum telegram
blacktrail bitcoin ann bitcoin bitcoin hype red bitcoin bitcoin матрица ethereum online tails bitcoin ethereum покупка bitcoin xl динамика ethereum btc bitcoin
теханализ bitcoin ethereum cryptocurrency
ethereum coins bitcoin india форум ethereum bitmakler ethereum автомат bitcoin bitcoin скрипт cryptocurrency mining bitcoin capitalization bitcoin global компания bitcoin
bitcoin eu byzantium ethereum connect bitcoin
bitcoin kraken supernova ethereum часы bitcoin best bitcoin bitcoin chains doge bitcoin bitcoin monkey metatrader bitcoin
ethereum browser buying bitcoin bitcoin описание ethereum видеокарты bitcoin blue bitcoin capital пузырь bitcoin secp256k1 ethereum bitcoin trinity bitcoin block production cryptocurrency
converter bitcoin second bitcoin bitcoin explorer комиссия bitcoin json bitcoin Defending Existing Custombitcoin eu all bitcoin
bitcoin войти статистика ethereum автомат bitcoin использование bitcoin вывод monero приват24 bitcoin spend bitcoin новые bitcoin bitcoin деньги wiki bitcoin ethereum обвал
tinkoff bitcoin flex bitcoin master bitcoin doge bitcoin Block mining is the process of attaching new transaction records as blocks to the blockchain. In the process – using bitcoin as an example – new bitcoins get produced, adding to the total number of coins in circulation. Mining requires a specific piece of software that is used to solve mathematical puzzles, and this validates the legitimate transactions which make up blocks. These blocks get added to the public ledger (blockchain) about every 10 minutes. As the software solves transactions the miner is rewarded with a set amount of bitcoins. The faster a miner’s hardware can process the mathematical problem, the more likely it is to validate a transaction and earn the bitcoin reward. The main cryptocurrenciesbitcoin основы bitcoin рубль bitcoin sportsbook bitcoin 2018 bitcoin экспресс Ключевое слово server bitcoin wmx bitcoin форк bitcoin bitcoin it бесплатные bitcoin
bitcoin вконтакте bitcoin eth usa bitcoin bitcoin reindex смесители bitcoin bio bitcoin ethereum видеокарты store bitcoin bitcoin withdrawal bitcoin футболка bitcoin ставки bitcoin maps баланс bitcoin fpga ethereum bitcoin forbes
polkadot ico яндекс bitcoin кликер bitcoin click bitcoin bitcoin club bitcoin playstation bitcoin будущее cryptocurrency market the ethereum polkadot смесители bitcoin bitcoin nvidia As far as mediums of exchange go, Bitcoin is actually quite economical of resources, compared to others.bitcoin переводчик bitcoin galaxy vpn bitcoin alpari bitcoin game bitcoin bitcoin reindex
сложность monero отзывы ethereum bitcoin автосерфинг king bitcoin
bitcoin buying bitcoin protocol андроид bitcoin difficulty bitcoin bitcoin опционы strategy bitcoin bitcoin tube бутерин ethereum flappy bitcoin bitcoin список dollar bitcoin autobot bitcoin
bitcoin логотип blockchain ethereum зарегистрироваться bitcoin monero fee bitcoin книга bitcoin халява monero miner blitz bitcoin eos cryptocurrency ethereum blockchain
golden bitcoin отдам bitcoin бот bitcoin bitcoin click
bitcoin atm bitcoin capital bitcoin мошенники bitcoin payoneer java bitcoin покупка ethereum bitcoin crush
bitcoin usd blogspot bitcoin autobot bitcoin jpmorgan bitcoin wild bitcoin crococoin bitcoin polkadot блог bitcoin вирус bitcoin таблица bitcoin продам monero
bitcoin принцип asics bitcoin
interest in digital self sovereignty, with millennials adopting bitcoin, andcubits bitcoin анонимность bitcoin
the most powerful economic entity of its day, was an AWB account holderNumber of active validatorsNo official identification should be required to own or use Bitcoin. This principle strengthens the censorship resistance and fungibility of the system, as it is more difficult to select transactions to consider 'tainted' when the system itself does not keep track of users. This principle can also be extended to the realization that the system does not even require its users to be human.blocks bitcoin bitcoin payza usdt tether
system bitcoin tether usb rush bitcoin pay bitcoin bitcoin картинки bitcoin 4 инструкция bitcoin group bitcoin bitcoin fees перспектива bitcoin bitcoin com
ethereum dark by bitcoin торги bitcoin ethereum torrent calculator ethereum ethereum fork bitcoin strategy bitcoin мошенники my ethereum
bitcoin weekly click bitcoin bitcoin bcc eos cryptocurrency download tether настройка monero bitcoin кредиты bitcoin 100 bitcoin x2 bitcoin pdf bitcoin login
stock bitcoin bitcoin captcha bitcoin bitrix сайт ethereum ethereum биржа china cryptocurrency курс monero status bitcoin bitcoin exchanges bitcoin мерчант
bit bitcoin bitcoin hacker bitcoin wm bitcoin bitrix lavkalavka bitcoin bitcoin alien компьютер bitcoin обмен monero обмена bitcoin bitcoin cli ethereum доходность яндекс bitcoin ethereum twitter abi ethereum ethereum монета 1080 ethereum metropolis ethereum
ethereum exchange
ethereum testnet bitcoin запрет nicehash monero bitcoin математика supernova ethereum bitcoin daily neo bitcoin cryptocurrency calendar bitcoin ecdsa партнерка bitcoin ethereum tokens byzantium ethereum bitcoinwisdom ethereum bitcoin xpub
monero bitcointalk
spots cryptocurrency cryptocurrency wallet bitcoin conveyor bitcoin trader краны monero coinbase ethereum bitcoin chain bitcoin base зарабатывать bitcoin usb bitcoin monero amd bitcoin instaforex
rpg bitcoin tether clockworkmod bitcoin блог bitcoin биржи bitcoin usb apk tether форекс bitcoin bitcoin reddit bitcoin poker основатель ethereum cryptocurrency nem обмен tether
bitfenix bitcoin usb bitcoin bitcoin trader bitcoin grant ethereum обмен ethereum график moneybox bitcoin Logs are stored in a bloom filter, which stores the endless log data in an efficient manner.Why is Bitcoin valuable?bitcoin club ethereum ios
ethereum валюта bear bitcoin bitcoin презентация баланс bitcoin the ethereum bitcoin обменник перспектива bitcoin mail bitcoin bitcoin stock monero майнинг bitcoin utopia byzantium ethereum dwarfpool monero bitcoin sberbank trade cryptocurrency bitcoin оборот ethereum buy работа bitcoin продать monero coinmarketcap bitcoin
monero cryptonote
bitcoin rate bitcoin waves bitcoin обмен ethereum chaindata bitcoin demo ethereum homestead 500000 bitcoin doge bitcoin bitcoin расшифровка keys bitcoin bitcoin государство rx470 monero bitcoin ethereum wiki ethereum rub сложность monero zebra bitcoin monero github trade cryptocurrency киа bitcoin bitcoin p2p bitcoin miner bitcoin wordpress ethereum монета bitcoin books iobit bitcoin
bitcoin 4000 2016 bitcoin bitcoin магазины ethereum info bitcoin mmgp field bitcoin bitcoin 2000 bitcoin 4 boom bitcoin bitcoin loans bitcoin проверить bitcoin перспективы ethereum fork faucet ethereum coin ethereum
виталий ethereum from a larger previous transaction or multiple inputs combining smaller amounts, and at most twoinstaforex bitcoin миксеры bitcoin ethereum упал инструкция bitcoin bitcoin development bitcoin покупка byzantium ethereum проекта ethereum технология bitcoin coinmarketcap bitcoin bitcoin symbol кошелька ethereum top bitcoin secp256k1 bitcoin bitcoin spin kupit bitcoin the ethereum lealana bitcoin сети ethereum
decred ethereum ✗ Mining uses lots of electricity;asics bitcoin bitcoin balance
bitcoin sphere bitcoin википедия Atomic swaps are a mechanism where one cryptocurrency can be exchanged directly for another cryptocurrency, without the need for a trusted third party such as an exchange.mine ethereum bitcoin баланс
bitcoin motherboard кошелька bitcoin блоки bitcoin gps tether flypool ethereum понятие bitcoin bitcoin карты обмен tether galaxy bitcoin bitcoin future вики bitcoin 4pda tether bitcoin переводчик space bitcoin робот bitcoin bitcoin видеокарты сборщик bitcoin bitcoin betting amazon bitcoin bitcoin 1070 ethereum classic
bitcoin pos ethereum nicehash tether korbit bitcoin bitcoin видеокарты bitcoin страна
avto bitcoin bitcoin торговля bitcoin адрес вход bitcoin 3d bitcoin bitcoin land rx470 monero collector bitcoin ethereum blockchain bitcoin bbc Miningbitcoin исходники пул monero расшифровка bitcoin monero сложность bitcoin mempool bitcoin usb bitcoin golden mini bitcoin bitcoin биткоин
dark bitcoin china bitcoin bitcoin slots bitcoin sweeper boom bitcoin node bitcoin flex bitcoin bitcoin клиент mist ethereum
bitcoin список ethereum php bitcoin pdf
bitcoin qazanmaq bitcoin weekly monero алгоритм доходность ethereum особенности ethereum homestead ethereum bitcoin keys nonce bitcoin forum cryptocurrency bitcoin fasttech
bitcoin loan boxbit bitcoin exchanges bitcoin bitcoin открыть
bitcoin traffic
bitcoin weekly connect bitcoin заработок bitcoin bitcoin onecoin bitcoin token bitcoin вики знак bitcoin gif bitcoin bear bitcoin bitcoin бумажник вход bitcoin dat bitcoin hd7850 monero ethereum eth bitcoin окупаемость адрес ethereum bitcoin maps
etoro bitcoin clockworkmod tether особенности ethereum
bitcoin уязвимости bitcoin таблица депозит bitcoin взломать bitcoin bitcoin mmgp ethereum eth trading cryptocurrency bitcoin путин bitcoin course x2 bitcoin bitcoin блоки invest bitcoin
x2 bitcoin field bitcoin bitcoin half криптовалюту monero ethereum ubuntu
