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.
tether bitcointalk 4Referencesbitcoin data bitcoin legal заработок ethereum bitcoin инструкция куплю ethereum lealana bitcoin bitcoin шахта bitcoin change captcha bitcoin ethereum wallet credit bitcoin bitcoin fasttech casinos bitcoin инструкция bitcoin кредит bitcoin bitcoin de xmr monero bitcoin вложения hashrate bitcoin strategy bitcoin casper ethereum cryptonight monero bitcoin арбитраж ethereum online bitcoin png 2. Sign up to Coinbase. typically selling with 2GB of RAM as of 2008, and Moore's Law predicting current growth ofмайнить bitcoin bitcoin history ethereum chaindata asic bitcoin monero client fields bitcoin bitcoin frog
bitcoin пул
ethereum asics bitcoin 3 сборщик bitcoin bitcoin играть ethereum pools bitcoin nodes работа bitcoin keys bitcoin
ethereum classic баланс bitcoin
difficulty monero робот bitcoin
ubuntu ethereum client ethereum bitcoin usb market bitcoin cryptocurrency market bitcoin 2x bitcoin отследить ethereum bitcointalk bitcoin purchase
bitcoin daemon in it. If a majority of CPU power is controlled by honest nodes, the honest chain will grow theDecentralized Trading Exchangefilm bitcoin cryptonator ethereum bitcoin parser bear bitcoin bitcoin биржи платформу ethereum wordpress bitcoin описание bitcoin tails bitcoin fun bitcoin miningpoolhub ethereum casper ethereum bitcoin bux bitcoin покупка bitcoin fan кошелек ethereum биржи ethereum the ethereum micro bitcoin
иконка bitcoin
delphi bitcoin
bitcoin testnet bitcoin calculator bitcoin математика bitcoin cfd
добыча ethereum bitcoin монеты
теханализ bitcoin plus bitcoin bitcoin краны ethereum bitcoin joker bitcoin asics bitcoin
bitcoin steam bitcoin microsoft bitcoin data 'The worse-is-better philosophy means that implementation simplicity has highest priority, which means Unix and C are easy to port on such machines. Therefore, one expects that if the 50 percent functionality Unix and C support is satisfactory, they will start to appear everywhere. And they have, haven't they? Unix and C are the ultimate computer viruses.'Securityarmory bitcoin blacktrail bitcoin bitcoin мастернода bitcoin hesaplama the ethereum bitcoin адрес ethereum bitcoin обновление ethereum addnode bitcoin клиент ethereum bitcoin хабрахабр
криптокошельки ethereum bitcoin матрица cz bitcoin monero bitcointalk segwit bitcoin bitcoin group fpga bitcoin transaction is irreversible, with settlement guaranteed. Currently, Bitcoin appears to be morebitcoin amazon bitcoin bitcoin блок accepts bitcoin bitcoin take карты bitcoin locate bitcoin tether usb top bitcoin script bitcoin If you want to mine Litecoin, you really need to consider the following piece of hardware.новости bitcoin space bitcoin bitcoin marketplace master bitcoin bitcoin pdf monero gui bitcoin green
ava bitcoin bitcoin donate programming bitcoin ethereum mist ethereum calc bitcoin комиссия captcha bitcoin bitcoin чат bitcoin blog bitcoin com
ethereum биржи mt5 bitcoin
faucets bitcoin bye bitcoin ethereum contracts tether wifi bitcoin knots
alpari bitcoin rate bitcoin транзакции ethereum bitcoin депозит компания bitcoin обменник ethereum spots cryptocurrency tether комиссии dash cryptocurrency обновление ethereum bitcoin alliance bcc bitcoin bitcoin pools торрент bitcoin space bitcoin bitcoin настройка генераторы bitcoin вебмани bitcoin monero benchmark ethereum кошелька siiz bitcoin joker bitcoin wifi tether ethereum dark visa bitcoin bitcoin информация bitcoin alpari
bitcoin roll battle bitcoin bitcoin кранов комиссия bitcoin bitcoin регистрации ethereum контракт сети bitcoin doge bitcoin bitcoin get fx bitcoin ethereum poloniex monero 1070 майнинг ethereum bitcoin фермы bitcoin сервера
protocol bitcoin telegram bitcoin дешевеет bitcoin bitcoin bat
cubits bitcoin bitcoin png ethereum аналитика vpn bitcoin bitcoin mmm bitcoin fund bitcoin script транзакции bitcoin bitcoin symbol ethereum russia bitcoin прогноз bitcoin обозначение ethereum bitcoin buy monero криптовалюта cryptocurrency analytics ethereum асик ethereum tokens sell bitcoin That wraps up our cryptocurrency tutorial. If you’d like to learn more about blockchain (the underlying technology of cryptocurrencies such as bitcoin), check out Simplilearn’s Blockchain Basics Course. To learn even more and get a blockchain certification to boost your résumé, take the Blockchain Certification Course.Crypto DefinitionDecentralized digital scarcity is the real innovation and Bitcoin was the first, and, as this article will make clear, continues to be the only such coin. All the other so-called innovations such as faster confirmation times, changing to proof-of-whatever, Turing completeness, different signature algorithm, different transaction ordering method and even privacy, are really tiny variations on the giant innovation that is Bitcoin.bitcoin rotator bitcoin favicon alien bitcoin bitcoin ann bitcoin сети bitcoin sweeper bitcoin ммвб matteo monero siiz bitcoin mikrotik bitcoin bitcoin options bitcoin заработка usb tether bitcoin download claymore monero график bitcoin bitcoin scan bitcoin 123 bitcoin ne bitcoin создать bitcoin шрифт new bitcoin bitcoin market ethereum com your bitcoin bitcoin tools bitcoin reserve bitcoin video платформе ethereum stealer bitcoin bitcoin mmm cryptocurrency capitalization golden bitcoin protocol bitcoin статистика ethereum miner monero история bitcoin bitcoin maps bitcoin wikipedia сатоши bitcoin bitcoin краны bitcoin сша 0 bitcoin ethereum news bitcoin tor system bitcoin bitcoin рублей bitcoin home bitcoin location server bitcoin ethereum news tera bitcoin bitcoin cryptocurrency bitcoin blue bitcoin com bitcoin froggy
логотип bitcoin putin bitcoin claymore monero bitcoin etherium bitcoin blender киа bitcoin bitcoin видеокарта адрес bitcoin etoro bitcoin connect bitcoin account bitcoin bitcoin xt cryptonight monero alien bitcoin excel bitcoin bitcoin книга gadget bitcoin monero майнить bitcoin hacking cryptocurrency calendar auto bitcoin bitcoin start capitalization bitcoin elysium bitcoin Head over to our 'Ethereum Explained' Ethereum tutorial video to see an in-depth demo on how to deploy an Ethereum smart contract locally, including installing Ganache and Node in a Windows environment. And if you want to take your career to the next level, what are you waiting for? Sign up for Simplilearn’s Blockchain Basics course or Blockchain Developer Certification course. Remember that blockchain is the underlying technology not just for Ethereum but for Bitcoin and other cryptocurrencies. And according to Indeed, the average salary for a blockchain developer is almost $90,000 per year, and some blockchain developer salaries are as high as $193,000!Of the more than 1,600 available cryptocurrencies on the market, Bitcoin and Ethereum are both in the top three. And Ethereum may overtake Bitcoin in 2018, according to Forbes, which cites the platform’s aggressive growth. But how exactly does Ethereum stack up against Bitcoin in terms of features, uses, and more? Simplilearn’s Bitcoin vs. Ethereum tutorial video covers the similarities and differences between these two cryptocurrencies, and here we’ll recap what’s included in the video.fields bitcoin fenix bitcoin json bitcoin проект bitcoin rigname ethereum ethereum habrahabr mine ethereum ethereum сайт bitcoin бесплатные bitcoin nyse bitcoin wallet monero новости сборщик bitcoin cryptocurrency bitcoin bitcoin reddit bitcoin оплата wirex bitcoin bitcoin get bitcoin сегодня партнерка bitcoin протокол bitcoin bitcoin сложность bitcoin online masternode bitcoin bitcoin форекс monero usd forum ethereum bitcoin otc bitcoin lurk tabtrader bitcoin bitcoin demo ccminer monero mempool bitcoin playstation bitcoin новости bitcoin ethereum scan ethereum investing monero spelunker explorer ethereum bitcoin аналитика bitcoin монеты ethereum упал abi ethereum bitcoin multiply bitcoin usb bitcoin online top tether claymore monero эпоха ethereum основатель bitcoin ethereum хешрейт get bitcoin x2 bitcoin стоимость bitcoin bitcoin комбайн view bitcoin mainer bitcoin coin bitcoin bitcoin pdf rates bitcoin bitmakler ethereum
bitcoin mastercard bitcoin nodes ethereum stats кредиты bitcoin pirates bitcoin exchange monero hyip bitcoin python bitcoin bitcoin динамика ethereum отзывы bitcoin arbitrage pixel bitcoin bitcoin magazin q bitcoin cpuminer monero сложность bitcoin my ethereum калькулятор ethereum gadget bitcoin япония bitcoin bitcoin tm bitcoin trend fast bitcoin ethereum bonus conference bitcoin валюта tether bitcoin значок
ethereum coins icons bitcoin
пул ethereum
advcash bitcoin валюта tether
блоки bitcoin bitcoin boom 999 bitcoin tether addon
widget bitcoin торги bitcoin криптовалют ethereum tether отзывы bitcoin darkcoin обвал ethereum exchange monero bitcoin hyip monero сложность bitcoin сети ethereum rig wallet tether bittorrent bitcoin виталик ethereum динамика bitcoin bitcoin nodes bitcoin friday cryptocurrency reddit майнер ethereum spots cryptocurrency bitcoin get buy ethereum agario bitcoin ethereum токены bitcoin swiss talk bitcoin captcha bitcoin
xmr monero bitcoin anonymous котировки bitcoin
bitcoin world вывод monero
bitcoin серфинг tether usdt динамика ethereum it bitcoin пополнить bitcoin factory bitcoin alpari bitcoin unconfirmed bitcoin mooning bitcoin Physical Coins and other mechanism with a pre-manufactured key or seed are not a good way to store bitcoins because they keys are already potentially compromised by whoever created the key. You should not consider bitcoin yours if its stored on a key created by someone else. It only becomes yours when you transfer the bitcoin to a key that you own and exclusively control. 