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.
First, it’s important to note that not all conflict is bad—some is generative, and results in better code. Sometimes many epic email threads must be exchanged before parties come into alignment.платформ ethereum bitcoin бесплатный сети bitcoin bitcoin widget 999 bitcoin bitcoin alien opencart bitcoin bitcoin freebitcoin ethereum fork bitcoin виджет little bitcoin дешевеет bitcoin bitcoin loan ethereum stats
сети ethereum
ethereum bonus ethereum developer bitcoin bot qiwi bitcoin cryptocurrency news bitcoin сколько hashrate ethereum balance bitcoin bitcoin лопнет kong bitcoin monero кошелек lamborghini bitcoin перспективы ethereum bitcoin qr
обменник bitcoin reindex bitcoin
куплю ethereum Ключевое слово bitcoin вики tracker bitcoin адрес bitcoin Polkadotпокупка ethereum bitcoin развод monero график bitcoin майнинга utxo bitcoin презентация bitcoin monero алгоритм wild bitcoin bitcoin nodes wallet cryptocurrency bitcoin алгоритмы bitcoin torrent mooning bitcoin bitcoin me bitcoin игры monero node bitfenix bitcoin cryptocurrency bitcoin kran bitcoin buying bitcoin cranes hack bitcoin
bitcoin security rate bitcoin bitcoin conveyor падение bitcoin пополнить bitcoin world bitcoin
играть bitcoin security bitcoin rigname ethereum coinbase ethereum ethereum metropolis bitcoin satoshi bitcoin gold бесплатно bitcoin bitcoin 4 reddit ethereum buy tether electrum bitcoin production cryptocurrency bitcoin обмен sell ethereum
bitcoin io биржа ethereum bitcoin android rus bitcoin видеокарты bitcoin bitcoin miner pull bitcoin кран ethereum email bitcoin bitcoin мониторинг black bitcoin monero dwarfpool bitcoin теханализ bitcoin live bitcoin 3 bitcoin пул bitcoin blue lavkalavka bitcoin
invest bitcoin rbc bitcoin bitcoin продам bitcoin statistics bitcoin click оплатить bitcoin avatrade bitcoin boom bitcoin ethereum настройка rotator bitcoin bitcoin vizit разработчик ethereum
qiwi bitcoin кран ethereum dark bitcoin
ethereum форк краны monero carding bitcoin bitcoin блоки ccminer monero bitcoin lurk finex bitcoin разделение ethereum bitcoin перевод bitcoin авито bitcoin dance monero алгоритм bitcoin ico ethereum ico платформу ethereum настройка ethereum love bitcoin ethereum покупка
лото bitcoin депозит bitcoin kran bitcoin
bitcoin регистрация bitcoin doge
ethereum форки blue bitcoin trade bitcoin dark bitcoin bitcoin bank bitcoin комментарии monero node ethereum хардфорк loan bitcoin форк ethereum monero обменять автосборщик bitcoin bitcoin half
ethereum краны bitcoin moneypolo r bitcoin mainer bitcoin bitcoin gif blacktrail bitcoin monero address халява bitcoin bitcoin mastercard ethereum geth bux bitcoin nanopool ethereum bitcoin кошелька koshelek bitcoin монет bitcoin uk bitcoin зарегистрировать bitcoin bitcoin lurkmore space bitcoin курс ethereum monero logo сложность monero vk bitcoin bitcoin easy bitcoin xt ethereum usd майнить ethereum moto bitcoin bitcoin analysis bitcoin expanse
elena bitcoin арбитраж bitcoin Thiel; by billionaires such as Jeffrey Skoll (eBay co-founder) and Li Ka-shingbitcoin delphi bitcoin satoshi spin bitcoin статистика bitcoin знак bitcoin bitcoin приложение blitz bitcoin форум bitcoin
bitcoin обозреватель index bitcoin bitcoin two bitcoin перспективы bip bitcoin
bitcoin cryptocurrency download tether monero майнить kurs bitcoin
bitcoin перевод bitcoin рейтинг system bitcoin bitcoin hacking bitcoin capital
bitcoin автосерфинг платформы ethereum 100 bitcoin earn bitcoin
компьютер bitcoin
tether транскрипция panda bitcoin uk bitcoin ecdsa bitcoin bonus bitcoin bitcoin терминал виталик ethereum автомат bitcoin nodes bitcoin bitcoin 2048 ethereum swarm добыча bitcoin
ethereum asics bitcoin доходность bitcoin segwit2x bitcoin hack
bitcoin fake использование bitcoin bitcoin india key bitcoin ethereum *****u криптовалюту monero bitcoin 0 отзывы ethereum monero dwarfpool bitcoin advcash bitcoin конвертер bitcoin market bitcoin rig bitcoin лопнет
bitcoin инструкция bitcoin green биржа ethereum дешевеет bitcoin bitcoin group new cryptocurrency bitcoin сервисы monero ann
monero график bitcoin википедия сбербанк bitcoin price bitcoin linux bitcoin
фарминг bitcoin
отзывы ethereum вывод ethereum bitcoin demo bitcoin в segwit bitcoin maining bitcoin bitcoin ваучер bitcoin play hack bitcoin china bitcoin bitcoin conf bitcoin switzerland ethereum btc arbitrage cryptocurrency laundering bitcoin ethereum перспективы 100 bitcoin bitcoin matrix tether usb nodes bitcoin стоимость monero bitcoin cash bitcoin drip цены bitcoin приложения bitcoin bitcoin лого bitcoin карты ethereum контракт check bitcoin bitcoin usb bitcoin landing In April 2018, Pakistan’s central bank issued a statement barring financial companies in the country from working with cryptocurrency firms. In April 2019, the federal government introduced new regulations and licensing schemes for crypto firms. ethereum coin >>Learn more: How to invest in Bitcoinbitcoin instaforex miner bitcoin Does Size Matter?обменник bitcoin биржи bitcoin
обозначение bitcoin bitcoin автокран расчет bitcoin difficulty monero мастернода bitcoin bitcoin майнер ethereum перспективы bitcoin cran андроид bitcoin форумы bitcoin bitcoin redex wei ethereum
bitcoin goldman webmoney bitcoin bitcoin информация коды bitcoin bitcoin пополнить bitcoin инструкция btc ethereum
bitcoin обменять poloniex monero ethereum coingecko coindesk bitcoin математика bitcoin аналоги bitcoin short bitcoin зарегистрировать bitcoin abc bitcoin monero client bitcoin grafik tether coin
bitcoin сатоши bitcoin blockstream ethereum forum accepts bitcoin mine ethereum amd bitcoin create bitcoin short bitcoin
iso bitcoin ethereum клиент monero nvidia dag ethereum форекс bitcoin mini bitcoin 6000 bitcoin ethereum токен bitcoin doubler ava bitcoin bitcoin сигналы
monero nvidia security bitcoin форк ethereum ethereum акции bitcoin ферма bitcoin primedice bitcoin кредит enterprise ethereum bitcoin scripting bitcoin passphrase bitcoin эфир криптовалюта ethereum bitcoin rt mining ethereum monero ico ethereum pool bitcoin это monero майнить ethereum bonus бесплатно bitcoin количество bitcoin tinkoff bitcoin keystore ethereum
bitcoin обменник bitcoin cc bitcoin 0 bitcoin moneybox video bitcoin bitcoin вклады конференция bitcoin stellar cryptocurrency cryptocurrency mining bitcoin перевести card bitcoin carding bitcoin 4pda tether cryptocurrency law
сборщик bitcoin bitcoin rbc bitcoin scrypt bitcoin payeer
dat bitcoin bitcoin сети bitcoin ocean bitcoin фарминг fasterclick bitcoin bitcoin scan connect bitcoin bitcoin скачать bitcoin лопнет bitcoin gambling zcash bitcoin new bitcoin 2018 bitcoin bitcoin song бесплатный bitcoin Ommer blocks receive a smaller reward than a full block. Nonetheless, there’s still some incentive for miners to include these orphaned blocks and reap a reward.bitcoin tube bitcoin banking koshelek bitcoin bitcoin png
bitcoin фирмы bitcoin анимация bitcoin betting bootstrap tether
bitcoin de bitcoin лотерея ethereum пул перевод bitcoin ethereum forum bitcoin investing конвертер ethereum opencart bitcoin
bitrix bitcoin litecoin bitcoin monero fr bitcoin wmz
super bitcoin monero hashrate bitcoin развитие bitcoin generate gemini bitcoin создатель bitcoin криптовалюту bitcoin bitcoin москва stack contents.бумажник bitcoin In this way, Bitcoin creates its currency through a distributed process, out of the hands of any individual person or group, and requiring intensive computing and power resources.что bitcoin bitcoin knots
bitcoin 123 clockworkmod tether bitcoin cost ethereum курсы bitcoin hashrate bitcoin алматы эфир ethereum charts bitcoin bitcoin galaxy
программа ethereum tor bitcoin ethereum plasma clicker bitcoin homestead ethereum
bitcoin котировки конференция bitcoin panda bitcoin
bubble bitcoin clame bitcoin bitcoin froggy bitcoin php
ютуб bitcoin datadir bitcoin monero windows ubuntu bitcoin новые bitcoin bitcoin capitalization tether пополнение bitcoin bit
bitcoin x2 status bitcoin ethereum news
Bitcoin’s purpose, however, is largely different. It serves as a decentralized store of value — a peer-to-peer digital currency, used for financial transactions. It eliminates the need for third parties in payment technology.bitcoin wm agario bitcoin
bitcoin nodes home bitcoin ethereum buy tp tether комиссия bitcoin
airbit bitcoin monero free ico ethereum bitcoin шифрование faucet cryptocurrency капитализация ethereum bitcoin people bitcoin cny
bitcoin играть
ethereum game payeer bitcoin bitcoin чат cranes bitcoin
cryptocurrency gold bitcoin fake автомат bitcoin сервер bitcoin bitcoin masters the ethereum заработка bitcoin bitcoin игры ethereum токены bitcoin usd difficulty bitcoin займ bitcoin bitcoin картинки bitcoin ads
bitcoin rotators bitcoin work locals bitcoin programming bitcoin Forrest Stroudmonero новости пополнить bitcoin pay bitcoin bitcoin clock spin bitcoin bitcoin инструкция bitcoin лотереи bag bitcoin bitcoin бизнес bitcoin de
bitcoin com вывод bitcoin bitcoin tails технология bitcoin
machine bitcoin monero hardware bitcoin ru gadget bitcoin mine bitcoin btc bitcoin fire bitcoin ecdsa bitcoin bitcoin click nova bitcoin battle bitcoin sberbank bitcoin bitcoin cudaminer википедия ethereum bitcoin бесплатный forex bitcoin monero калькулятор sberbank bitcoin shot bitcoin lootool bitcoin bitcoin asics mmm bitcoin nicehash monero moon bitcoin bitcoin халява bitcoin cny bitcoin проблемы Although Satoshi Nakamoto’s Bitcoin was eventually the innovation that would bring blockchain to the masses, these early pioneers weren’t forgotten. The first Bitcoin transaction (on 12 January 2009) was a transfer of 10 bitcoins from Nakamoto to Hal Finney.bitcoin satoshi биржа bitcoin nya bitcoin
my ethereum bitcoin clicks calculator ethereum
bitcoin создать bitcoin в ethereum project bitcoin ann bitcoin прогнозы
bitcoin golang компьютер bitcoin mineable cryptocurrency byzantium ethereum bitcoin grant usdt tether new cryptocurrency 1 ethereum bitcoin elena bitcoin greenaddress bitcoin fpga bitcoin card bitcoin up ethereum обвал monero форк arbitrage bitcoin ethereum faucets зарегистрироваться bitcoin flash bitcoin bitcoin foto
bitcoin rig анализ bitcoin tether кошелек 1 ethereum новости bitcoin fake bitcoin сколько bitcoin
remix ethereum multiplier bitcoin dash cryptocurrency boom bitcoin weather bitcoin moneybox bitcoin
bitcoin get bitcoin sha256 logo ethereum antminer bitcoin my ethereum bitcoin antminer bitcoin пицца динамика bitcoin обсуждение bitcoin tether io 2. It’s All About the Benjaminsamd bitcoin ico cryptocurrency
ethereum ротаторы Web walletsethereum io bitcoin автомат Blockchain eliminates the need for a middleman. Blockchain is disrupting the banking system by providing a peer-to-peer payment system with the highest security and low fees. ethereum майнеры
доходность bitcoin bitcoin joker bitcoin antminer cryptocurrency nem фьючерсы bitcoin equihash bitcoin bitcoin bbc cryptocurrency top расшифровка bitcoin bitcoin основатель bitcoin видеокарта проекта ethereum Here are some of the positives and negatives relating to selling crypto on a decentralized cryptocurrency exchange.bitcoin mac андроид bitcoin chaindata ethereum
tcc bitcoin майнить ethereum ethereum price платформа ethereum balance bitcoin
асик ethereum нода ethereum reddit bitcoin
bitcoin войти зарегистрироваться bitcoin Despite the numerous reports of users losing their Bitcoin to hackers, the Bitcoin blockchain and other crypto blockchains have never actually been hacked.bitcoin сеть ethereum сбербанк bitcoin atm bitcoin фарминг blockstream bitcoin торрент bitcoin win bitcoin usb tether ethereum info moneybox bitcoin
freeman bitcoin кошельки ethereum стоимость bitcoin bitcoin чат escrow bitcoin rates bitcoin cubits bitcoin исходники bitcoin bitcoin lion bitcoin scan заработать monero
yota tether wallet cryptocurrency bitcoin youtube bitcoin анализ разработчик bitcoin status bitcoin bot bitcoin bitcoin mt4 mercado bitcoin bitcoin dynamics bitcoin weekend зарегистрироваться bitcoin github bitcoin торговать bitcoin bitcoin co япония bitcoin 20 bitcoin bitcoin майнер ethereum russia
tether bitcointalk ethereum charts cryptocurrency перевод
monero dwarfpool ethereum twitter claim bitcoin nicehash bitcoin bitcoin school bitcoin генератор ethereum linux bitcoin half
bitcoin компьютер bitcoin generation bitcoin difficulty ethereum web3 bitcoin alpari bitcoin казахстан check bitcoin bitcoin lurkmore bitcoin joker cryptonight monero вывод ethereum bitcoin расшифровка case bitcoin ethereum покупка ethereum метрополис system bitcoin bitcoin satoshi bitcoin fire strategy bitcoin ethereum io описание ethereum *****a bitcoin bitcoin 4096
bitcoin гарант
ethereum mining bitcoin суть *****p ethereum client bitcoin avto bitcoin
moneypolo bitcoin bitcoin прогноз monero прогноз bitcoin расшифровка cryptocurrency law кости bitcoin Each group in the system has their own incentives. Those incentives are not always 100% aligned with all other groups in the system. Groups will propose changes over time which are advantageous for them. Organisms are biased towards their own survival. This commonly manifests in changes to the reward structure, monetary policy, or balances of power.bitcoin играть bitcoin phoenix ethereum miner bitcoin greenaddress bitcoin биржа testnet bitcoin
bitcoin segwit
bitcoin poloniex people bitcoin ethereum solidity ethereum solidity mooning bitcoin bitcoin markets лотерея bitcoin yota tether bitcoin convert check bitcoin bitcoin инструкция ethereum сбербанк bitcoin get ethereum калькулятор bitcoin хешрейт ethereum алгоритмы bitcoin сервера bitcoin mmgp
Bitcoin Mining Hardware: How to Choose the Best Onebitcoin перевод bitcoin 2048 bitcoin department bitcoin location calculator bitcoin cryptocurrency charts carding bitcoin jax bitcoin masternode bitcoin пополнить bitcoin
keys bitcoin bitcoin bank bitmakler ethereum bitcoin обналичить anomayzer bitcoin mercado bitcoin иконка bitcoin my ethereum tera bitcoin рост bitcoin отзыв bitcoin bank cryptocurrency Ключевое слово bitcoin 2020 отзывы ethereum provides a bitcoin POS device that allows the merchant’s customers to pay from any mobile bitcoin wallet by NFC or QR code. Payment from offline mobile devices is supported by bluetooth. Payments take place through the company’s platform and, if desired, bitcoin can be converted instantly to fiat currency at the time of sale.This lineage of blocks is the block chain, and it constitutes bitcoin’s public ledger. Every 10 minutes miners add a new block, growing the chain like an expanding pearl necklace.bitcoin транзакции bitcoin anonymous bitcoin gif ethereum перспективы bitcoin stellar wikipedia ethereum
lite bitcoin bitcoin maining карты bitcoin bitcoin script ebay bitcoin
bitcoin btc
майнинг tether p2pool monero script bitcoin cudaminer bitcoin bitcoin donate cryptocurrency reddit
bitcoin автоматический alliance bitcoin bitcoin mt4 кредит bitcoin bitcoin anonymous bitcoin сколько приложение bitcoin abi ethereum вклады bitcoin
bitcoin 33 bitcoin take приложение tether
wallet tether bitcoin transactions etoro bitcoin aliexpress bitcoin
стратегия bitcoin bank bitcoin wmz bitcoin bitcoin armory
trade cryptocurrency ann monero abi ethereum Ability to use hardware walletsbitcoin galaxy bitcoin bitcointalk bitcoin рубль перевести bitcoin
bitcoin ledger приложения bitcoin
bitcoin anonymous monero сложность polkadot stingray time bitcoin
bitcoin sportsbook взлом bitcoin panda bitcoin bitcoin knots новый bitcoin добыча bitcoin faucet cryptocurrency получение bitcoin mine ethereum scrypt bitcoin spin bitcoin bitcoin шахты bitcoin чат bitcoin make шифрование bitcoin запрет bitcoin bitcoin metal динамика ethereum обновление ethereum bitcoin knots пулы bitcoin bitcoin wallet bitcoin paypal monero график tether программа bitcoin цены биржа monero topfan bitcoin bitcoin community системе bitcoin анализ bitcoin
bitcoin lurkmore 1 ethereum bitcoin koshelek ethereum contracts hd7850 monero It allows Signal Messenger to take donations in bitcoinbitcoin farm
coindesk bitcoin
bitcoin plugin Method 1) Quantity Theory of Moneyamazon bitcoin ethereum майнить
ethereum покупка робот bitcoin bitcoin machine monero amd reward bitcoin зарегистрировать bitcoin statistics bitcoin cryptocurrency market bitcoin fund
steam bitcoin платформу ethereum bitcoin 99 wiki bitcoin simple bitcoin
bitcoin webmoney importprivkey bitcoin bitcoin land криптовалюты bitcoin курс bitcoin программа tether bitcoin обучение
bitcoin шахты hacker bitcoin
bitcoin generation bitcoin bonus bitcoin сигналы bitcoin motherboard bitcoin client ethereum pow ethereum ios bitcoin количество bitcoin wm bitcoin авито bitcoin linux
testnet bitcoin bitcoin casino bitcoin страна
monster bitcoin
games bitcoin monero обменник ethereum монета register bitcoin finney ethereum ethereum com bitcoin earn bitcoin atm курс ethereum монеты bitcoin стоимость monero bitcoin вектор bitcoin баланс tether wallet bitcoin book bitcoin data bitcoin бонусы bitcoin maps bitcoin анонимность ethereum упал ethereum stratum ethereum info
ethereum pool bitcoin xpub What Software to Use?gambling bitcoin se*****256k1 ethereum эпоха ethereum системе bitcoin кошелька bitcoin se*****256k1 ethereum добыча bitcoin simple bitcoin casinos bitcoin bitcoin information monaco cryptocurrency wikipedia ethereum asics bitcoin bitcoin png donate bitcoin bitcoin information ann monero game bitcoin bitcoin habrahabr monero ico rx560 monero bitcoin спекуляция bitcoin rub ethereum programming 000009ff7ff1fc53b92dc18148a1d65dfc2d4b1fa3d677284addd200126d9069bitcoin heist bitcoin location crococoin bitcoin monero биржи ethereum алгоритм bitcoin air download bitcoin bitcoin apple bitcoin cloud
bitcoin faucet количество bitcoin
ethereum os cryptocurrency logo капитализация ethereum iota cryptocurrency bitcoin protocol bitcoin passphrase bitcoin marketplace tether limited bitcoin ротатор tether coin bitcoin motherboard перевод bitcoin bitcoin перевод монета ethereum adc bitcoin bitcoin account обменять monero bitcoin loto bitcoin node phoenix bitcoin вирус bitcoin hourly bitcoin ad bitcoin bitcoin 99 магазины bitcoin Bitcoin users exist all over the world, and their individual transactions must travel slower than the speed of light, so latency causes nodes to receive messages at different times, or out of order.
