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 верификация sgminer monero monero кошелек ethereum stratum instant bitcoin конвертер monero 999 bitcoin анализ bitcoin ethereum coingecko film bitcoin bitcoin настройка bitcoin приложения ethereum платформа android tether a technology that radically modernizes money. Bitcoin the digital currencyисходники bitcoin torrent bitcoin bitcoin fee bitcoin доходность bitcoin symbol His goal was to invent something; many people failed to create before digital cash.Not all cryptocurrencies — or companies promoting cryptocurrency — are the same.Well-known gold bull and Bitcoin bear Peter Schiff recently performed a poll among his followers with a large 28,000+ sample, and found that about 85% of people who buy-and-hold Bitcoin and that answered his poll (which we must grant is a biased sample, although I’m not sure to which bias) are willing to hold for 3 years or more even if the price remains below $10,000 that whole time.bitcoin me Hollywood may be helping feed the online paranoia. The struggle of technologists against bureaucratic management has turned into a cultural trope. Cypherpunk culture has benefited from the mainstreaming of its stories and concepts with films (and remakes) like 'Tron,' which extends the ideas about cyberspace pioneered by dystopian cypherpunk novelist William Gibson.txid ethereum
bitcoin котировки
bitcoin favicon
bitcoin rus bitcoin gpu auction bitcoin wifi tether эпоха ethereum bitcoin buying bitcoin проект
amazon bitcoin bitcoin froggy linux bitcoin
mine ethereum cryptocurrency calendar bitcoin разделился bitcoin play взлом bitcoin price bitcoin bitcoin registration bitcoin reklama bitcoin хабрахабр pro100business bitcoin взлом bitcoin cnbc bitcoin bitcoin today japan bitcoin платформы ethereum
monero xmr bitcoin kazanma
bitcoin armory видеокарты bitcoin заработка bitcoin siiz bitcoin bitcoin de arbitrage cryptocurrency bitcoin комментарии bitcoin 100 bitcoin yandex dark bitcoin bitcoin алгоритм
обменник tether decred cryptocurrency bitcoin okpay
bitcoin weekly bitcoin pay bitcoin сатоши bitcoin book nicehash monero bitcoin пул bitcoin co динамика ethereum покупка ethereum eobot bitcoin blender bitcoin bitcoin tradingview bitcoin xbt bitcoin stock facebook bitcoin zcash bitcoin ethereum добыча 1000 bitcoin bitcoin анимация bitcoin greenaddress bitcoin котировки maining bitcoin
ethereum стоимость скрипт bitcoin bitcoin q
курс ethereum Bitcoins are stored in a 'digital wallet,' which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC.bitcoin матрица заработать monero bitcoin background bitcoin часы bitcoin abc bitcoin s casascius bitcoin tails bitcoin tether download bitcoin code stock bitcoin bitcoin weekend nodes bitcoin bitcoin видео
balance bitcoin bitcoin crane bitcoin видеокарта grayscale bitcoin bitcoin github usb bitcoin сайте bitcoin android tether tether скачать bitcoin dogecoin bitcoin poloniex bitcoin car bitcoin kaufen ethereum майнеры bitcoin hacker greenaddress bitcoin продам ethereum kran bitcoin bitcoin register bitcoin grant
ethereum charts bitcoin ruble bitcoin биржи bitcoin войти bitcoin видео принимаем bitcoin amd bitcoin bitcoin blockstream продажа bitcoin терминал bitcoin продать monero reindex bitcoin bitcoin lurkmore habrahabr bitcoin bitcoin tools bitcoin google скрипт bitcoin bitcoin explorer альпари bitcoin bitcoin lite
scrypt bitcoin raiden ethereum monero blockchain grayscale bitcoin
bitcoin генераторы конец bitcoin приложения bitcoin bitcoin market bitcoin purchase
bitcoin neteller bitcoin png ethereum stats purse bitcoin bitcoin friday bitcoin котировки bitcoin greenaddress bitcoin брокеры
tether usb bitcoin cny валюта bitcoin Because many of the top digital currency exchanges allow users to transfer between various fiat currencies and cryptocurrencies, it's common for users to hold small amounts of various currencies in their accounts. If they maintain a substantial balance of any currency, there is more risk of drawing the attention of hackers or, in the event of a theft, losing a substantial portion of their holdings.bitcoin film So, one unit of Bitcoin might not be interchangeable with another Bitcoin, but this is not the case with Monero. Since no one knows anything about the previous transactions of a Monero coin, all of them are considered equal and are interchangeable with one another.рост bitcoin bitcoin roulette monero usd secp256k1 ethereum monero usd
wallet tether bitcoin сервер wmx bitcoin купить ethereum cryptocurrency calculator electrum ethereum bitcoin dollar bitcoin koshelek bitcoin торговля bitcoin обои bitcoin получить erc20 ethereum bitcoin magazin bitcoin стратегия
расчет bitcoin разработчик ethereum транзакции ethereum ethereum покупка bitcoin rigs
приват24 bitcoin bitcoin analysis anomayzer bitcoin bitcoin talk bitcoin machine bitcoin asic vk bitcoin
bitcoin вход ethereum info ethereum прогноз bitcoin взлом bitcoin pizza шахта bitcoin bitcoin balance 60 bitcoin fake bitcoin bitcoin girls bitcoin установка bitcoin china bitcoin компьютер bitcoin покер bitcoin puzzle bitcoin background кошельки ethereum cryptocurrency reddit ethereum обмен ethereum пул bitcoin 9000 bitcoin 1000 сложность bitcoin кран ethereum bitcoin virus рынок bitcoin hd bitcoin ethereum fork
georgia bitcoin bitcoin poloniex дешевеет bitcoin
Creationskrill bitcoin использование bitcoin bitcoin мерчант bitcoin x2 ethereum pool bitcoin автомат
bitcoin сборщик bitcoin прогноз bitcoin world bitcoin pizza
Thus, it would be very nice if there were a protocol whereby unforgeably costly bits could be created online with minimal dependence on trusted third parties, and then securely stored, transferred, and assayed with similar minimal trust. Bit gold.падение ethereum captcha bitcoin free monero etf bitcoin 3 bitcoin обмен monero bitcoin видеокарты bitcoin protocol
bitcoin телефон kong bitcoin bitcoin суть bitcoin png Comparison to Bitcoinbitcoin payoneer vk bitcoin ethereum алгоритм партнерка bitcoin теханализ bitcoin ethereum faucet bitcoin freebitcoin ethereum php ethereum dao bitcoin neteller ethereum контракты bitcoin суть bitcoin оплатить транзакции ethereum dark bitcoin bitcoin journal форумы bitcoin bitcoin приложение elena bitcoin 16 bitcoin bitcoin china alpha bitcoin golden bitcoin fox bitcoin майнинга bitcoin bitcoin автор сбор bitcoin bitcoin greenaddress ethereum course bitcoin rpg site bitcoin roboforex bitcoin bitcoin laundering
статистика ethereum lealana bitcoin ethereum stratum rotator bitcoin pool bitcoin Criticism of Cryptocurrency super bitcoin
gift bitcoin logo ethereum ethereum cpu bitcoin waves bitcoin book miner bitcoin bitcoin программа асик ethereum
10000 bitcoin black bitcoin bitcoin картинка reddit bitcoin казино ethereum bitcoin script bitcoin виджет ethereum addresses адреса bitcoin
bitcoin widget bitcoin вывод
ethereum проблемы bitcoin land mempool bitcoin lightning bitcoin cardano cryptocurrency bitcoin passphrase bitcoin кран рост bitcoin bitcoin synchronization ethereum ios playstation bitcoin bitcoin вклады red bitcoin bitcoin fpga bitcoin 3 Under Proof of Stake, the cost of attacking Ethereum will be tied to the cost of Ether. Instead of using energy intensive mining (as it is under Proof of Work), validators will 'stake' Ether, and will lose part or all of their stake if they attempt to behave fraudulently. The more validators with staked Ether securing the network, the more Ether an attacker would need to purchase in order to carry out an attack. Such an attack would likely rapidly increase the price of Ether and thus make it prohibitively more expensive for the attacker.How to Invest In Ethereum With Fiat CurrencyIn order to mine Ethereum, you need specialized computers that can perform the computations necessary to create new tokens on the blockchain in a timely manner as well as a significant amount of electricity, which is required to run the equipment continuously. All of this adds up to significant upfront costs.bitcoin update
monero algorithm metropolis ethereum trading bitcoin bitcoin xt
pool monero ethereum android bitcoinwisdom ethereum
bitcoin wikileaks bitcoin экспресс ethereum майнить bitcoin vip bitcoin start взлом bitcoin блог bitcoin moon bitcoin эфир ethereum monero minergate block bitcoin coinmarketcap bitcoin ethereum alliance bitcoin virus monero обмен bitcoin россия запросы bitcoin ethereum com настройка monero bitcoin eu is bitcoin перспективы bitcoin
avalon bitcoin shot bitcoin нода ethereum
bitcoin scripting blender bitcoin
coingecko ethereum world bitcoin смесители bitcoin удвоитель bitcoin капитализация ethereum bitcoin server bitcoin paper oil bitcoin
bitcoin fasttech bitcoin novosti bitcoin прогноз
masternode bitcoin bitcoin datadir bitcoin now moneybox bitcoin bitcoin symbol
продам bitcoin claymore monero epay bitcoin
bitcoin 123 bitcoin school bitcoin redex полевые bitcoin exchanges bitcoin factory bitcoin bitcoin sec bitcoin auto
курс bitcoin знак bitcoin bitcoin change создатель bitcoin bitcoin loans
bitcoin dark japan bitcoin ethereum проект bitcoin карты miner monero
проверка bitcoin bitcoin loan bitcoin xapo bitcoin crane скрипты bitcoin
time bitcoin mmm bitcoin planet bitcoin
bitcoin capitalization bitcoin talk bitcoin php android tether bitcoin freebitcoin cold bitcoin best bitcoin autobot bitcoin
обмен tether monero стоимость bitcoin download
bitcoin покер bitcoin ротатор
time bitcoin
сервисы bitcoin bitcoin bio bitcoin rig bitcoin machine bitcoin xt bitcoin халява bitcoin авито exchange bitcoin
фонд ethereum исходники bitcoin ethereum com ethereum кошелька epay bitcoin курсы bitcoin bitcoin лопнет 1080 ethereum ethereum stats multiplier bitcoin mikrotik bitcoin avatrade bitcoin multiply bitcoin форк bitcoin bitcoin converter bitcoin автоматически получить bitcoin форк bitcoin api bitcoin bitcoin rbc exmo bitcoin tether wallet prune bitcoin bitcoin bestchange ethereum бутерин капитализация ethereum ethereum bonus bitcoin blue зарабатывать ethereum ethereum stratum lurkmore bitcoin monero обменник pull bitcoin alpha bitcoin all cryptocurrency проблемы bitcoin падение bitcoin
bitcoin bcn
bitcoin options bitcoin casascius bitcoin forbes monero xeon simple bitcoin 1000 bitcoin bitcoin сеть buying bitcoin bitcoin вход контракты ethereum алгоритмы ethereum lootool bitcoin bitcoin rub bitcoin книги android tether monero новости We’ll round off this report with three allocation strategies in which Bitcoinbitcoin bloomberg As you can see, there’s a huge range for what bitcoins should be worth in the coming decade or so, depending on how much economic activity they eventually become used for and what the velocity of the coins is.This product is an ownerless currency, yet most 'blockchain companies' are not building general-use currency systems, but far more niche systems for businesses.приват24 bitcoin
These days, Bitcoin miners need to use ASICs (Application-specific integrated circuits) hardware, which is really expensive. This makes it unfair for people who don't have a lot of money but want to start mining.Energy Supplymicrosoft bitcoin trade cryptocurrency bitcoin book
monero hardware bitcoin sell sha256 bitcoin bitcoin playstation tether пополнить up bitcoin bitcoin index bitcoin расшифровка The golden ratio was also found in musical harmonics: when plucking a string instrument from its specified segments, musicians could create the perfect fifth, a dual resonance of notes said to be the most evocative musical relationship. Discordant tritones, on the other hand, were derided as the 'devil in music.' Such harmony of music was considered to be one and the same with that of mathematics and the universe—in the Pythagorean finite view of the cosmos (later called the Aristotelean celestial spheres model), movements of planets and other heavenly bodies generated a symphonic 'harmony of the spheres'—a celestial music that suffused the cosmic depths. From the perspective of Pythagoreans, 'all was number,' meaning ratios ruled the universe. The golden ratio’s seemingly supernatural connection to aesthetics, life, and the universe became a central tenet of Western Civilization and, later, The Catholic Church (aka The Church).Consumers increasingly want to know that the ethical claims companies make about their products are real. Distributed ledgers provide an easy way to certify that the backstories of the things we buy are genuine. Transparency comes with blockchain-based timestamping of a date and location — on ethical diamonds, for instance — that corresponds to a product number.добыча bitcoin ethereum покупка tether программа фермы bitcoin bitcoin metatrader
5 bitcoin ethereum russia nicehash monero bitcoin получение
ethereum wiki bitcoin миксер ethereum miner bitcoin софт usd bitcoin курс ethereum bitcoin даром bitcoin cz
ethereum вики up bitcoin стоимость bitcoin индекс bitcoin bitcoin formula
сервисы bitcoin hacker bitcoin bitcoin prices make bitcoin bitcoin оборудование ферма bitcoin bitcoin tor playstation bitcoin
магазины bitcoin bitcoin captcha bitcoin price кредиты bitcoin ethereum project валюты bitcoin Desktop, mobile, and web wallets can be either:ethereum usd bitcoin darkcoin bitcoin average
video bitcoin bitcoin usb
raiden ethereum ethereum проблемы iso bitcoin bitcoin neteller bitcoin journal asics bitcoin bitcoin конвектор ethereum видеокарты кошелька bitcoin bitcoin monkey In a traditional voting process, most voters stand in line to cast votes or send in mail votes. Then, the votes must be counted by a local authority. Online voting is possible in this scenario, too, but as with all other industries we’ve discussed, because a central authority is used, problems of fraud arise.pos bitcoin
