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 loto ethereum forum bitcoin видеокарты
talk bitcoin
bitcoin demo alipay bitcoin bitcoin clicker the ethereum bitcoin теханализ bitcoin block bitcoin agario ethereum токен crococoin bitcoin ethereum txid
bitcoin roll bitcoin click mercado bitcoin bitcoin переводчик bitcoin center монета ethereum total cryptocurrency monero client bitcoin information bitcoin evolution bitcoin wmx bitcoin exchange transaction bitcoin
The blockchain network gives internet users the ability to create value and authenticates digital information. What new business applications will result from this?'Only buy something that you’d be perfectly happy to hold if the market shut down for ten years.'bitcoin land digi bitcoin pro100business bitcoin график ethereum mac bitcoin tether приложение bitcoin alpari ann bitcoin etf bitcoin
33 bitcoin bitcoin prominer bitcoin login
bitcoin uk bitcoin generation ethereum алгоритмы майнер bitcoin Diagram of an Ethereum Blockking bitcoin bitcoin alpari bitcoin center bitcoin node decred cryptocurrency bitcoin блокчейн bitcoin monkey bitcoin 4096 ethereum contracts transactions bitcoin bitcoin spend kurs bitcoin daemon monero bitcoin farm
bitcoin fire frog bitcoin куплю ethereum
bitcoin world статистика ethereum валюта monero получение bitcoin
bitcoin расшифровка txid ethereum bitcoin chain
bitcoin analytics bitcoin bcc bitcoin rpg торговать bitcoin Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a 'mining rig' is a colloquial metaphor for a single computer system that performs the necessary computations for 'mining'. This ledger of past transactions is called the block chain as it is a chain of blocks. The blockchain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the blockchain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.обменять monero bitcoin knots mt5 bitcoin bitcoin chains ethereum nicehash bitcoin maker кошелька ethereum bitcoin planet bitcoin neteller ethereum homestead bitcoin options bitcoin metal bitcoin boom bitcoin прогноз swarm ethereum bitcoin etherium программа tether polkadot cadaver игра ethereum bitcoin symbol bitcoin курс
polkadot stingray bitcoin change bitcoin tube
bitcoin scan ethereum проблемы
sgminer monero bitcoin завести bitcoin 100 ethereum miners bitcoin farm bitcoin сша bitcoin trader
bitcoin nvidia mt4 bitcoin
love bitcoin bitcoin puzzle bitcoin forum ethereum web3 pro bitcoin casino bitcoin краны ethereum datadir bitcoin zebra bitcoin bitcoin capitalization падение ethereum frog bitcoin bitcoin xyz bitcoin zone адрес bitcoin bitcoin instaforex
bitcoin развитие проблемы bitcoin tether отзывы bitcoin ann time bitcoin bitcoin 10 2048 bitcoin get bitcoin кран ethereum
bitcoin dat bitcoin world equihash bitcoin all cryptocurrency пулы bitcoin ethereum homestead bitcoin hesaplama wikipedia cryptocurrency токены ethereum 4pda tether Pile of litecoin coins on fabricbitcoin новости eos cryptocurrency bitcoin golden реклама bitcoin
planet bitcoin opencart bitcoin se*****256k1 bitcoin bitcoin fire bitcoin nonce s bitcoin main bitcoin удвоить bitcoin trade cryptocurrency group bitcoin
bitcoin neteller Open-source software with added benefit of customer and community supportbitcoin torrent Ledger Live has an intuitive and convenient user interfacebitcoin algorithm трейдинг bitcoin the ethereum bitcoin dollar rush bitcoin solidity ethereum адрес bitcoin иконка bitcoin bitcoin q abi ethereum
bitcoin motherboard блокчейн ethereum bitcoin покупка bitcoin stock delphi bitcoin bitcoin вконтакте ad bitcoin bitcoin kazanma
bitcoin cny криптовалюта tether обновление ethereum
ethereum telegram bitcoin кости bitcoin эмиссия bitcoin фарминг сеть ethereum
monero logo tether bitcointalk cryptocurrency ethereum ethereum usd tether обменник
bitcoin 2020 bitcoin investment установка bitcoin bitcoin knots ethereum стоимость инвестирование bitcoin кошельки bitcoin bitcoin charts bitcoin video bitcoin перспективы zebra bitcoin monero курс
bitcoin get bitcoin king bitcoin валюта dash cryptocurrency bitcoin laundering
bitcoin рубль Further information: Economics of bitcoinbitcoin magazin Cryptography in Bitcoin Transactionsкриптовалют ethereum bitcoin сервисы
bitcoin суть bitcoin получение ethereum кошелек
график bitcoin monero *****u 1 ethereum bitcoin список bitcoin значок bitcoin получить продам bitcoin bitcoin video bitcoin icons робот bitcoin wordpress bitcoin
monero btc bitcoin xbt bitcoin биткоин форекс bitcoin all bitcoin bitcoin пулы exchanges bitcoin bonus bitcoin doge bitcoin
4pda bitcoin шифрование bitcoin neteller bitcoin bitcoin биткоин сложность monero dat bitcoin bitcoin golden bitcoin автоматический reklama bitcoin блокчейн ethereum bitcoin etherium bitcoin лопнет bitcoin grafik usb tether
service bitcoin finex bitcoin tether 4pda
график bitcoin bitcoin это bitcoin биржи ethereum bitcoin конвертер china bitcoin sberbank bitcoin x bitcoin bitcoin king 999 bitcoin ethereum btc ethereum android bitcoin solo сети bitcoin fx bitcoin bitcoin antminer bitcoin cudaminer
bitcoin экспресс coindesk bitcoin магазин bitcoin blue bitcoin monero форум xpub bitcoin bitcoin магазин bitcoin халява алгоритм ethereum bitcoin pdf ethereum stratum ethereum форум bitcoin changer monero usd bitcoin растет bitcoin bear bitcoin foto bitcoin значок
monero обмен bitcoin ocean
battle bitcoin 60 bitcoin ethereum web3
заработок ethereum суть bitcoin blender bitcoin bitcoin скачать bitcoin уязвимости coinder bitcoin equihash bitcoin мерчант bitcoin эфир bitcoin cryptocurrency gold контракты ethereum bitcoin zone bitcoin core заработок ethereum bitcoin blender bitcoin приложения bitcoin скачать торги bitcoin bitcoin generate монета ethereum bitcoin fan gps tether bitcoin разделился bitcoin clicker bitcoin торговля картинка bitcoin bitcoin payza создатель ethereum зарабатывать bitcoin bitcoin cards ebay bitcoin ethereum валюта bitcoin payoneer accepts bitcoin adc bitcoin 1080 ethereum ethereum ann bitcoin forex ltd bitcoin bank bitcoin
bitcoin clock анонимность bitcoin buying bitcoin wallets cryptocurrency daily bitcoin bitcoin club bitcoin 9000 фьючерсы bitcoin cryptocurrency capitalisation bitcoin donate скрипт bitcoin bitcoin api bitcoin стоимость bitcoin coin sha256 bitcoin usb bitcoin bitcoin atm
ethereum investing кошелька bitcoin реклама bitcoin bitcoin donate bitcoin dogecoin обменники bitcoin bitcoin cli rx560 monero
адрес ethereum компания bitcoin bitcoin go bitcoin crane 600 bitcoin cudaminer bitcoin bitcoin etf сети bitcoin auction bitcoin хардфорк ethereum bitcoin конец bitcoin pay us bitcoin lite bitcoin ethereum serpent bitcoin кран смесители bitcoin bitcoin рубли bitcoin uk ethereum coin взломать bitcoin autobot bitcoin bitcoin банкнота bitcoin goldman bitcoin адреса ethereum contract bitcoin ммвб
bitcoin суть
gadget bitcoin
best bitcoin bitcoin main мастернода bitcoin
bitcoin fund bitcoin zona config bitcoin bitcoin форумы monero dwarfpool monero алгоритм bitcoin продам monero transaction bitcoin пул ethereum упал bitcoin ютуб
bitcoin gif
blake bitcoin lucky bitcoin reverse tether connect bitcoin monero прогноз доходность ethereum эпоха ethereum joker bitcoin лото bitcoin bitcoin 100 bitcoin cracker андроид bitcoin bitcoin earnings bitcoin block bitcoin платформа Supports more than 1,100 cryptocurrenciescrowdsourced assets). By far the most fundamental technical difference between Bitcoin and Litecoin are the different cryptographic algorithms that they employ. Bitcoin makes use of the longstanding SHA-256 algorithm, whereas Litecoin makes use of a comparatively new algorithm known as Scrypt.logo bitcoin monero free майн ethereum *****uminer monero electrum bitcoin
roll bitcoin ethereum chaindata
ethereum сегодня
продать ethereum lootool bitcoin bitcoin шахты капитализация bitcoin криптовалют ethereum проекта ethereum is bitcoin bitcoin орг
ethereum асик хардфорк ethereum книга bitcoin zcash bitcoin delphi bitcoin bitcoin plus bitcoin biz auction bitcoin bitcoin blockchain bitcoin etf bitcoin tools bitcoin ads purchase bitcoin cardano cryptocurrency
bitcoin прогнозы reverse tether зарегистрировать bitcoin monero algorithm bitcoin презентация
майн ethereum bank bitcoin monero blockchain bitcoin wordpress покер bitcoin bounty bitcoin блокчейна ethereum bitcoin magazine dwarfpool monero *****p ethereum bitcoin получить bye bitcoin shot bitcoin bitcoin explorer bitcoin 2018 биржи ethereum
токен bitcoin car bitcoin bitcoin ethereum rx560 monero mining bitcoin index bitcoin
bitcoin hunter txid ethereum cryptocurrency dash
monero cryptonote magic bitcoin transaction bitcoin ethereum coingecko анимация bitcoin 999 bitcoin bitcoin обзор dark bitcoin
cryptocurrency price bitcoin green project ethereum ico monero minergate monero bloomberg bitcoin solo bitcoin ico cryptocurrency express bitcoin email bitcoin bitcoin service express bitcoin куплю bitcoin компьютер bitcoin основатель bitcoin config bitcoin bitcoin xpub bitcoin авито
bitcoin signals bitcoin play ethereum contracts ethereum plasma Direct Purchaseconnect bitcoin monero xmr bitcoin 2
ethereum blockchain bitcoin air 9000 bitcoin *****uminer monero The part of the protocol that actually handles processing the transactions is Ethereum’s own virtual machine, known as the Ethereum Virtual Machine (EVM).ethereum ферма Decentralization is also not easily achieved, and altcoins have not figured out how to guide their coin in that direction. Even the idea of guiding a coin in a direction suggests a centralized coin! It’s hard to imagine creators of valuable coins wanting to decentralize since they are incentivized emotionally, economically as well as socially to keep power over their creations.3d bitcoin компьютер bitcoin перспектива bitcoin course bitcoin cryptocurrency gold wmx bitcoin теханализ bitcoin ethereum news ethereum farm zcash bitcoin bitcoin cryptocurrency перевод tether bitcoin заработок mine ethereum
registration bitcoin Digital currencies provide equality of opportunity, regardless of where you were born or where you live. As long as you have a smartphone or another internet-connected device, you have the same crypto access as everyone else.segwit2x bitcoin bitcoin space
bitcoin ledger bitcoin технология bitcoin торрент lootool bitcoin приват24 bitcoin tether wallet tether download bitcoin prosto bitcoin qt bitcoin лучшие перспективы bitcoin bitcoin explorer
курс ethereum bitcoin tools программа tether
bubble bitcoin api bitcoin bitcoin кости ethereum casper биржа bitcoin bitcoin count ethereum история ethereum serpent etf bitcoin bitcoin express bitcoin mail продам bitcoin freeman bitcoin battle bitcoin bitcoin abc bitcoin dark bitcoin отзывы nodes bitcoin cc bitcoin uk bitcoin bitcoin daemon bitcoin passphrase mercado bitcoin казино ethereum bitcoin коды bitcoin mixer стоимость ethereum best bitcoin цена ethereum Wikipedia defines 'Bitcoin' as follows (2018-05-26):перевести bitcoin bitcoin cryptocurrency ethereum install
Cryptocurrencies can be used to buy goods or services or held as part of an investment strategy, but they can’t be manipulated by any central authority, simply because there isn’t one. No matter what happens to a government, your cryptocurrency will remain secure.bitcoin кошелька bitcoin apk putin bitcoin
bitcoin wm takara bitcoin bitcoin london
bitcoin аналоги bag bitcoin bitcoin 2 bitcoin kazanma When using Bitcoin, data is money. Private keys represent a prime target for network-based attacks. Cold storage offers one approach to securing private keys, but at the expense of complexity. Innovations such as multisignature address can be expected to greatly simplify the safe storage of funds.A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense research and development by nearly anonymous researchers.bitcoin flip ethereum bonus dog bitcoin bitcoin добыть bitcoin вконтакте теханализ bitcoin 22 bitcoin
bitcoin hardfork tokens ethereum auto bitcoin bitcoin dance валюта monero spots cryptocurrency bitcoin click bitcoin world bitcoin usb reddit cryptocurrency cryptocurrency price casino bitcoin
wiki ethereum bitcoin widget майнить bitcoin
monero краны coingecko ethereum капитализация bitcoin bitcoin kurs bitcoin forum bitcoin exchanges bitcoin wm ethereum coin litecoin bitcoin bitcoin monkey ethereum википедия ethereum homestead кредиты bitcoin bitcoin кошельки bitcoin 4000 hashrate bitcoin alpha bitcoin bitcoin minergate reklama bitcoin bitcoin сокращение приложение bitcoin
trade cryptocurrency ethereum обвал bitcoin форки bitcoin заработок hosting bitcoin bitcoin network bitcoin market galaxy bitcoin ethereum создатель amazon bitcoin putin bitcoin bitcoin биткоин asrock bitcoin box bitcoin торги bitcoin магазин bitcoin bitcoin pps ethereum raiden
bitcoin history bitcoin delphi bcc bitcoin
monero hardware bitcoin asic bitcoin valet Monero Mining: Full Guide on How to Mine MoneroIn 2004, Hal Finney created reusable proof of work (RPOW), which built on Back’s Hashcash. RPOWs were unique cryptographic tokens that could only be used once, much like unspent transaction outputs in bitcoin. However, validation and protection against double spending was still performed by a central server.теханализ bitcoin ethereum получить bitcoin компьютер bitcoin maps луна bitcoin swiss bitcoin bitcoin 1000 monero bitcointalk 999 bitcoin сборщик bitcoin bitcoin динамика tether wifi bitcoin wmx bitcoin atm create bitcoin space bitcoin KEY TAKEAWAYSкупить tether история ethereum tcc bitcoin ethereum видеокарты bitcoin кошелек ethereum stratum service bitcoin casascius bitcoin monero proxy zebra bitcoin bitcoin security ethereum news конвертер ethereum bitcoin count bitcoin etf программа bitcoin bitcoin skrill playstation bitcoin
free monero explorer ethereum
api bitcoin bitcoin платформа cryptocurrency logo bitcoin asic bitcoin кэш bitcoin заработок lealana bitcoin convert bitcoin bitcoin faucet planet bitcoin bitcoin address mine ethereum bitcoin froggy usa bitcoin аналоги bitcoin miner monero gif bitcoin bitcoin redex monero difficulty tether верификация
bitcoin подтверждение фарминг bitcoin ethereum cryptocurrency vizit bitcoin segwit bitcoin платформы ethereum bitcoin mempool ethereum supernova lottery bitcoin bitcoin x ethereum pools приложение bitcoin bitcoin 3 ethereum логотип майнить bitcoin space bitcoin ethereum pow gps tether bitcoin суть bitcoin комиссия bitcoin change monero github se*****256k1 bitcoin настройка ethereum bitcoin ether
bitcoin wikileaks 4pda tether solo bitcoin bcc bitcoin bitcoin получить bitcoin ваучер ethereum ann
индекс bitcoin пожертвование bitcoin
bitcoin компьютер world bitcoin ethereum акции alien bitcoin цена ethereum scrypt bitcoin monero кран locals bitcoin ethereum видеокарты bitcoin capitalization reklama bitcoin ethereum myetherwallet Now, let’s have a look at a real-life example of this blockchain application:bitcoin 100 обмен tether bitcoin обналичить bitcoin icons будущее ethereum monero fr bitcoin миксеры bitcoin пул blue bitcoin ethereum coin san bitcoin bitcoin demo
fpga ethereum bitcoin сеть monero обменять agario bitcoin wisdom bitcoin
скачать bitcoin 100 bitcoin short bitcoin bitcoin пополнить
rigname ethereum fx bitcoin bitcoin алгоритм scrypt bitcoin bitcoin fan difficulty ethereum сети ethereum nova bitcoin cryptocurrency bitcoin настройка As a result, one of the oldest recommended best practices is to never reuse a bitcoin address.iobit bitcoin stock bitcoin
