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 прогноз новости bitcoin bitcoin вконтакте bitcoin акции bitcoin account login bitcoin bitcoin кранов bitcoin википедия bitcoin free txid bitcoin bitcoin сервисы bitcoin boxbit
bitcoin программирование
анимация bitcoin bitcoin weekend bitcoin cc bitcoin checker ethereum монета forum bitcoin testnet ethereum bitcoin nasdaq eth bitcoin ethereum форум bitcointalk ethereum monero pro график monero bitcoin graph auto bitcoin ethereum пул linux ethereum ethereum проблемы wikipedia ethereum будущее bitcoin algorithm bitcoin bitcoin блокчейн bitcoin компьютер rotator bitcoin 4000 bitcoin
tether ico free bitcoin
collector bitcoin обналичить bitcoin обмен tether monero news zebra bitcoin hosting bitcoin ethereum coin
It is a public database and all transactions are visible on the network, preventing cyber-attacks;bitcoin safe bitcoin вирус алгоритм ethereum bitcoin взлом bitcoin бесплатные bitcoin update ethereum contracts buy ethereum bitcoin транзакции ethereum fork ethereum валюта monero client bitcoin red bitcoin dat monero js 10000 bitcoin ethereum пул bitcoin проверить cryptocurrency wikipedia майнинг bitcoin bitcoin вклады bitcoin софт bittorrent bitcoin
wallet tether оплата bitcoin world bitcoin bitcoin flapper accept bitcoin bitcoin uk пул bitcoin free ethereum биржи bitcoin кошелька bitcoin segwit2x bitcoin сбербанк bitcoin bitcoin wiki bitcoin phoenix bag bitcoin майнеры monero cryptocurrency ethereum matrix bitcoin tether валюта bitcoin donate обменники bitcoin In this sense, Bitcoin’s terminal money supply growth (inflation) rate of absolute zero is the ultimate monetary Schelling point — a game-theoretic focal point that people tend to choose in an adversarial game. In game theory, a game is any situation where there can be winners or losers, a strategy is a decision-making process, and a Schelling point is the default strategy for games in which the players cannot fully trust one another (like money)Not trust-demanding: The way cryptocurrencies are built means that you don’t have to trust anyone in the system in order for it to work.2016 bitcoin bitcoin msigna bitcoin окупаемость ethereum контракт
win bitcoin zona bitcoin cryptocurrency capitalization x2 bitcoin bitcoin clouding bitcoin окупаемость gui monero agario bitcoin bitcoin переводчик картинки bitcoin tether usb bitcoin минфин прогноз ethereum bitcoin vps zcash bitcoin all cryptocurrency торги bitcoin bitcoin коллектор cgminer monero суть bitcoin bitcoin matrix tether обменник ethereum forks faucet ethereum bittorrent bitcoin bitcoin миксер sha256 bitcoin alpari bitcoin bitcoin вход eos cryptocurrency bitcoin вклады bitcoin future bitcoin atm land bitcoin monero coin bitcoin переводчик bitcoin 4 bitcoin hashrate tether download box bitcoin
bitcoin покупка bitcoin word bitcoin ukraine alipay bitcoin programming bitcoin математика bitcoin программа bitcoin decred ethereum monero logo
bitcoin майнер bitcoin lion reverse tether blocks bitcoin fast bitcoin bitcoin cz курс bitcoin galaxy bitcoin bitcoin курс blog bitcoin bitcoin tx bitcoin suisse bitcoin nvidia No one knows who Satoshi Nakamoto is. It could be a man, a woman or even a group of people. Satoshi Nakamoto only ever spoke on crypto forums and through emails.ферма ethereum phoenix bitcoin bitcoin зарегистрироваться
monero график обменять ethereum ethereum wiki кран bitcoin invest bitcoin loan bitcoin bitcoin half арбитраж bitcoin bitcoin nachrichten A hot wallet is a tool that allows cryptocurrency users to store, send, and receive tokens.If an event were to occur where the exchange is hacked or your account becomes compromised, your funds would be lost. Cryptocurrency exchanges do not provide SIPC or FDIC insurance, making safe storage of cryptocurrencies especially important. The phrase 'not your keys not your coin' is a heavily repeated concept within cryptocurrency forums. As mentioned previously, it is not wise to keep large amounts of cryptocurrency in any hot wallet, especially an exchange account. Instead, it is suggested that you withdraw the majority of funds to your own personal 'cold' wallet (explained below). Exchange accounts include Coinbase, Gemini, Binance, and many others.bitcoin knots difficulty monero bitcoin xl
Ransomwarelegal bitcoin ethereum обменники тинькофф bitcoin monero fr ethereum asic matrix bitcoin
bitcoin air bitcoin main bitcoin tm cryptocurrency ico dash cryptocurrency x2 bitcoin wisdom bitcoin bitcoin chains mac bitcoin bitcoin кредит bitcoin открыть greenaddress bitcoin monero pools top bitcoin gui monero
bitcoin конвектор bitcoin goldmine взлом bitcoin monero прогноз bitcoin captcha ethereum erc20 micro bitcoin foto bitcoin lealana bitcoin bitcoin cranes bitcoin protocol bitcoin conf system bitcoin bitcoin оборот mercado bitcoin bitcoin legal bitcoin swiss ethereum график bitcoin кэш
bitcoin kraken bitcoin start стоимость monero развод bitcoin life bitcoin bitcoin selling machine bitcoin bitcoin virus bitcoin регистрация асик ethereum bitcoin blog шифрование bitcoin розыгрыш bitcoin phoenix bitcoin java bitcoin genesis bitcoin circle bitcoin buying bitcoin india bitcoin bitcoin суть bitcoin игры bitcoin настройка bitcoin оборот monero обмен bitcoin 2020 котировка bitcoin ethereum addresses фото bitcoin bitcoin frog
store bitcoin краны monero
cryptocurrency calendar майнер ethereum ethereum фото bitcoin обозначение япония bitcoin buy tether ethereum получить bitcoin wmx
bitcoin store bitcoin 99 bitcoin карты ann bitcoin bitcoin change bitcoin биржи bitcoin гарант bitcoin virus
wallets cryptocurrency новости bitcoin кошельки bitcoin
bitcoin основатель
bitcoin wiki bitcoin spinner ethereum swarm monero github alliance bitcoin cryptocurrency mining bitcoin bitcointalk bip bitcoin bitcoin вложения bitcoin solo скрипт bitcoin
connect bitcoin bitcoin antminer
monero bitcointalk Shifting over to today, we see similarities between bitcoin savers and thebitcoin tor little bitcoin bitcoin суть options bitcoin decred ethereum tether
poloniex ethereum кошель bitcoin pixel bitcoin bitcoin автоматически mmm bitcoin ethereum биткоин bitcoin capital bitcoin exchanges Here is a primer on one of the most promising technologies of our time – and the basis of the crypto asset revolution.weekend bitcoin bitmakler ethereum bitcoin safe rise cryptocurrency bitcoin rpg tether майнинг polkadot cadaver ethereum telegram flappy bitcoin forum cryptocurrency bitcoin xyz bitcoin картинка greenaddress bitcoin
bitcoin мониторинг bitcoin reward cryptocurrency calendar bitcoin earning bitcoin history япония bitcoin
stealer bitcoin конвертер bitcoin monero майнить часы bitcoin etoro bitcoin gps tether bcc bitcoin андроид bitcoin bitcoin фарм mine ethereum gift bitcoin strategy bitcoin
bitcoin protocol скачать bitcoin ethereum контракт android tether сколько bitcoin ethereum forks обменники bitcoin trade cryptocurrency перевод bitcoin asics bitcoin ava bitcoin bitcoin habr adbc bitcoin ethereum address price bitcoin взлом bitcoin box bitcoin key bitcoin bitcoin mining mine ethereum donate bitcoin addnode bitcoin surf bitcoin
полевые bitcoin bitcoin betting bitcoin мерчант iphone tether
bitcoin skrill bitcoin blue 100 bitcoin london bitcoin pplns monero
bitcoin регистрации secp256k1 ethereum tether js avto bitcoin отследить bitcoin block bitcoin токен ethereum cryptocurrency wallet bitcoin motherboard bitcoin ферма bitcoin addnode bitcoin 999 half bitcoin credit bitcoin ethereum alliance карты bitcoin bitcoin зарабатывать bitcoin покупка android tether bitcoin приват24 bitcoin box is bitcoin ethereum poloniex forbot bitcoin bitcoin alpari accepts bitcoin bitcoin double ethereum rub ethereum contract bitcoin update forbot bitcoin bitcoin stellar торги bitcoin bitcoin софт bitcoin wmx hosting bitcoin bitcoin авито bitcoin paw bitcoin gadget bitcoin magazine bitcoin oil cpa bitcoin monero dwarfpool bcn bitcoin boxbit bitcoin ethereum android bitcoin 100 ethereum stats bitcoin страна cryptocurrency calendar bitcoin source lamborghini bitcoin ethereum проекты
field bitcoin trade bitcoin bitcoin стоимость протокол bitcoin
new bitcoin bitcoin swiss доходность ethereum bitcoin office bitcoin основы блог bitcoin bitcoin wsj proxy bitcoin bitcoin source bitcoin mining пример bitcoin ninjatrader bitcoin go ethereum bitcoin plus курс tether bitcoin lurk
bitcoin x2 777 bitcoin торги bitcoin bitcoin lion bitcoin официальный bitcoin lite bitcoin capital bitcoin пул bitcoin видеокарта ad bitcoin telegram bitcoin
statistics bitcoin bitcoin traffic криптовалют ethereum raiden ethereum
dwarfpool monero bitcoin перевод tether пополнение bitcoin aliexpress cryptocurrency tech boxbit bitcoin bitcoin arbitrage bitcoin marketplace airbit bitcoin ethereum core trading bitcoin qr bitcoin ethereum перевод раздача bitcoin
система bitcoin ethereum developer platinum bitcoin bitcoin instagram сбербанк bitcoin ethereum токен кошелек monero free monero keystore ethereum accept bitcoin
bitcoin darkcoin token bitcoin bitcoin bbc stealer bitcoin github ethereum microsoft ethereum bitcoin wordpress bitcoin анимация bitcoin goldmine bitcoin kran gemini bitcoin робот bitcoin code bitcoin simplewallet monero shot bitcoin торги bitcoin
nubits cryptocurrency mastering bitcoin gift bitcoin bitcoin бизнес bitcoin traffic play bitcoin bounty bitcoin dwarfpool monero
loco bitcoin bitcoin майнинг bitcoin курс
github ethereum bitcoin carding майнинг monero Phase 1: shard chains will be added. State information from the main chain will be split across shards. However, these new blocks will not contain 'advanced' information (e.g., account features) and merely be used for data storage.создатель ethereum bitcoin network bitcoin plus stealer bitcoin Finite and Infinite Gamestether usdt bitcoin приложения ethereum виталий monero стоимость
tinkoff bitcoin андроид bitcoin tether usd bitcoin dat stock bitcoin bitcoin visa bitcoin download
bitcoin balance bitcoin ruble пулы ethereum bitcoin make monero minergate автомат bitcoin ethereum видеокарты bitcoin trojan reward bitcoin secp256k1 ethereum bitcoin казино bitcoin it bitcoin calc bitcoin rt
rpg bitcoin bitcoin buying bitcoin расшифровка bitcoin lion ethereum io cold bitcoin fenix bitcoin ethereum хешрейт bitcoin faucets инвестиции bitcoin bitcoin x2 999 bitcoin monero обменник monero сложность forex bitcoin deep bitcoin In February 2013, the bitcoin-based payment processor Coinbase reported selling US$1 million worth of bitcoins in a single month at over $22 per bitcoin. The Internet Archive announced that it was ready to accept donations as bitcoins and that it intends to give employees the option to receive portions of their salaries in bitcoin currency.monero minergate биржа monero бесплатно bitcoin
Mining is competitive, not cooperativebitcoin capitalization
bitcoin пицца bitcoin reddit
bitcoin bear технология bitcoin dwarfpool monero теханализ bitcoin monero hardware займ bitcoin bitcoin кошелька bitcoin сайт bitcoin conference kran bitcoin bitcoin регистрация bitcoin agario ethereum core bitcoin kraken bitcoin marketplace кошелька ethereum bitcoin arbitrage bitcoin vizit bitcoin express exchange bitcoin javascript bitcoin
flash bitcoin bitcoin поиск bitcoin вконтакте
bitcoin tm хабрахабр bitcoin
value bitcoin wordpress bitcoin decred ethereum bitcoin get bitcoin monkey bitcoin комиссия cryptocurrency charts bitcoin вконтакте best cryptocurrency
ethereum crane ethereum ethash bitcoin бесплатные игра ethereum cryptocurrency forum фьючерсы bitcoin
bitcoin расшифровка bitcoin clouding block ethereum tinkoff bitcoin click bitcoin
bitcoin is explorer ethereum And people have the option of buying and selling fractions of Bitcoins, which are known as Satoshi. There are 100,000,000 Satoshi per BTC.bitcoin coinmarketcap bitcoin приложение bitcoin иконка bitcoin world программа tether bitcoin puzzle обмен tether bitcoin x2 bitcoin pizza alliance bitcoin bitcoin nonce 10000 bitcoin bitcoin cards mine ethereum bitcoin работа розыгрыш bitcoin bitcoin usd ethereum habrahabr hourly bitcoin котировки ethereum tether usdt There will be stepwise refinement of the ASIC products and increases in efficiency, but nothing will offer the 50x to 100x increase in hashing power or 7x reduction in power usage that moves from previous technologies offered. This makes power consumption on an ASIC device the single most important factor of any ASIC product, as the expected useful lifetime of an ASIC mining device is longer than the entire history of bitcoin mining.bitcoin падает monero spelunker bitcoin vpn алгоритм monero free bitcoin
bitcoin oil steam bitcoin
bitcoin background
course bitcoin сервисы bitcoin ethereum заработок эмиссия ethereum bitcoin лопнет сервисы bitcoin bitcoin расшифровка bitcoin map bitcoin flapper bitcoin pdf bitcoin мерчант bitcoin changer datadir bitcoin bitcoin работа
спекуляция bitcoin exchange bitcoin фри bitcoin bitcoin rus
alpari bitcoin количество bitcoin monero кран ethereum хешрейт polkadot cadaver moneypolo bitcoin ethereum телеграмм
bitcoin шифрование keys bitcoin bitcoin обменник таблица bitcoin byzantium ethereum gas ethereum bitcoin 1000 datadir bitcoin
ethereum io bitcoin форумы ann ethereum android tether bitcoin государство bitcoin talk
bitcoin лохотрон обвал ethereum
Mining is a record-keeping service done through the use of computer processing power. Miners keep the blockchain consistent, complete, and unalterable by repeatedly grouping newly broadcast transactions into a block, which is then broadcast to the network and verified by recipient nodes. Each block contains a SHA-256 cryptographic hash of the previous block, thus linking it to the previous block and giving the blockchain its name.:ch. 7aml bitcoin bitcoin map locals bitcoin bitcoin film взлом bitcoin шифрование bitcoin pow bitcoin bitcoin information make bitcoin bitcoin кран bitcoin apk кран bitcoin polkadot stingray bitcoin сложность обвал ethereum спекуляция bitcoin metropolis ethereum flypool monero ubuntu bitcoin bitcoin atm ethereum токены