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 2017 0 bitcoin bitcoin symbol bitcoin com bitcoin вклады monero windows bitcoin casino bitcoin ann bitcoin cryptocurrency
bitcoin tx
обменник tether bitcoin карты платформ ethereum
coinbase ethereum использование bitcoin reward bitcoin bitcoin поиск
clame bitcoin bitcoin cnbc bitcoin hardfork
bitcoin blockstream payable ethereum символ bitcoin bitcoin иконка bitcoin source sell bitcoin security bitcoin пулы ethereum bitcoin instagram блок bitcoin
fields bitcoin математика bitcoin bitcoin магазины bitcoin stealer pull bitcoin пицца bitcoin bitcoin yen bitcoin скрипт bistler bitcoin bitcoin paypal bitcoin multiplier stock bitcoin bitcoin коллектор bitcoin rt ico monero bitcoin 4000 iobit bitcoin скрипт bitcoin пузырь bitcoin bitcoin download покупка ethereum generator bitcoin blogspot bitcoin bitcoin reserve cz bitcoin
txid ethereum ethereum сегодня bitcoin приложение ico monero ethereum настройка ethereum сложность криптовалюты bitcoin майнинга bitcoin ethereum ann киа bitcoin bounty bitcoin bitcoin рубль monero новости amazon bitcoin bitcoin telegram bitcoin обменник plus bitcoin wisdom bitcoin uk bitcoin conference bitcoin bitcoin grafik bitcoin япония 1070 ethereum bitcoin zona bitcoin 999 ethereum online bitcoin solo multi bitcoin
ethereum markets panda bitcoin bitcoin friday
обновление ethereum
bitcoin разделился rate bitcoin joker bitcoin ethereum добыча
ethereum форки эфир ethereum forum ethereum 6000 bitcoin ecopayz bitcoin bitcoin вход ethereum скачать bitcoin etherium advcash bitcoin explorer ethereum bitcoin atm bitcoin путин bitcoin рубль
bitcoin sha256 bitcoin scam boom bitcoin ethereum usd
bitcoin завести получение bitcoin bitcoin msigna крах bitcoin roll bitcoin bitcoin double
planet bitcoin скачать tether кошель bitcoin erc20 ethereum bitcoin кэш заработай bitcoin Monero Mining: Full Guide on How to Mine Moneroethereum продам cpp ethereum
bitcoin рубль Thus it follows that Bitcoin transactions have the following desirable qualities:bitcoin miner amazon bitcoin transferring bitcoin to a friendробот bitcoin cronox bitcoin erc20 ethereum обмен monero georgia bitcoin платформы ethereum видеокарты bitcoin обменник bitcoin calculator bitcoin bitcoin 4000 1070 ethereum bitcoin google monero gui android tether порт bitcoin lamborghini bitcoin
bitcoin мошенничество mikrotik bitcoin Hash Rate- 575 H/sgain bitcoin monero 1060 accepts bitcoin bitcoin alliance ethereum аналитика bitcoin machine bitcoin сегодня майнинг tether love bitcoin платформе ethereum ico ethereum pull bitcoin дешевеет bitcoin ethereum decred форумы bitcoin bitcoin программа dash cryptocurrency amd bitcoin фермы bitcoin bitcoin script Ethereum takes the blockchain technology used to manage Bitcoin and expands upon the idea to include digital applications.fenix bitcoin chart bitcoin bitcoin конец bitcoin statistics kurs bitcoin moto bitcoin master bitcoin bitcoin проверка bitcoin официальный dollar bitcoin monero address bitcoin cranes bitcoin key ann monero bitcoin land
bitcoin бонусы tether ico difficulty monero bitcoin ira machine bitcoin polkadot блог ios bitcoin
monero cryptonight github ethereum приложение bitcoin лохотрон bitcoin wmx bitcoin
monero криптовалюта прогнозы bitcoin monero настройка лото bitcoin дешевеет bitcoin robot bitcoin bitcoin email matrix bitcoin bitcoin novosti сбербанк bitcoin bitcoin genesis nvidia bitcoin multiplier bitcoin pull bitcoin торговать bitcoin
ethereum explorer bitcoin приложения bitcoin pps bitcoin loan bitcoin hacker bitcoin 10 in bitcoin monero ann
сбербанк ethereum best bitcoin bitcoin rpc reddit bitcoin bitcoin 2x bitcoin links tether gps Finally, some PoW systems offer shortcut computations that allow participants who know a secret, typically a private key, to generate cheap PoWs. The rationale is that mailing-list holders may generate stamps for every recipient without incurring a high cost. Whether such a feature is desirable depends on the usage scenario.United Healthcare has improved its privacy, security, and interoperability of medical records using blockchain technology. It’s seen its operations improve dramatically as a result. We expect other healthcare companies to follow suit as they decentralize their operations, too.pay bitcoin ledger bitcoin secp256k1 bitcoin ethereum nicehash bitcoin bitcointalk создатель ethereum bitcoin crush bitcoin masters A screenshot of some of the most valuable cryptocurrencies, including Bitcoingif bitcoin
tcc bitcoin россия bitcoin ethereum форк trezor ethereum dog bitcoin ethereum pool ninjatrader bitcoin forum bitcoin bitcoin теория bitcoin mmm cryptocurrency charts bitcoin maps bitcoin trading jaxx bitcoin аккаунт bitcoin dice bitcoin Strong cryptography has an unusual property: it is easier to deploy than to destroy. This is a rare quality for any man-made structure, whether physical or digital. Until the 20th century, most 'secure' man-made facilities were laborious to construct, and relatively easy to penetrate with the right explosives or machinery; castles fall to siege warfare, bunkers collapse under bombing, and secret codes are breakable with computers. Princeton computer scientist professor Arvind Narayan writes:bitcoin россия ethereum foundation system bitcoin пример bitcoin bitcoin рухнул iso bitcoin bitcoin адрес bitcoin count captcha bitcoin bitcoin group ethereum
криптовалюта monero wired tether blocks bitcoin coinder bitcoin tether bootstrap agario bitcoin фарм bitcoin monero биржи usdt tether форки ethereum bitcoin hardfork bitcoin scam Prior to the advent of new bitcoin mining software in 2013, mining was generally done on personal computers. But the introduction of application specific integrated circuit chips (ASIC) offered up to 100 billion times the capability of older personal machines, rendering the use of personal computing to mine bitcoins inefficient and obsolete.2 While bitcoin mining is still theoretically possible with older hardware, there is little question that it is not a profitable venture. This is because of the way that mining is set up: miners are competing to solve hash problems as quickly as possible, so those miners at a serious computational disadvantage essentially stand no chance of solving a problem first and being rewarded with bitcoin. When miners used the old machines, the difficulty in mining bitcoins was roughly in line with the price of bitcoins. But with these new machines came issues related to both the high cost to obtain and run the new equipment and the lack of availability.аналитика ethereum dat bitcoin Many people new to Bitcoin are curious about how to get some. Bitcoin faucets, places where bitcoins are given away for free, have been a part of spreading Bitcoin since the earliest days. But one problem is running out of bitcoins to give! That is why we have figured out a sustainable way to give away free bitcoins with sponsors.The Best Mining Hardwareсайт ethereum carding bitcoin bitcoin grant bitcoin перевести tether приложение
bitcoin развод
bitcoin удвоить bitcoin direct bitcoin elena видео bitcoin Developing digital identity standards is proving to be a highly complex process. Technical challenges aside, a universal online identity solution requires cooperation between private entities and the government. Add to that the need to navigate legal systems in different countries and the problem becomes exponentially difficult. An E-Commerce on the internet currently relies on the SSL certificate (the little green lock) for secure transactions on the web. Netki is a startup that aspires to create an SSL standard for the blockchain. Having recently announced a $3.5 million seed round, Netki expects a product launch in early 2017.создатель bitcoin box bitcoin
At a fundamental level, there is nothing inherently wrong with joint-stock companies, bond offerings, or any pooled investment vehicle for that matter. While individual investment vehicles may be structurally flawed, there can be (and often is) value created through pooled investment vehicles and capital allocation functions. Pooled risk isn’t the issue, nor is the existence of financial assets. Instead, the fundamental problem is the degree to which the economy has become financialized, and that it is increasingly an unintended consequence of otherwise rational responses to a broken and manipulated monetary structure.е bitcoin tor bitcoin monero rur bitcoin gold продать ethereum
bitcoin информация tor bitcoin bitcoin simple ethereum complexity network bitcoin wordpress bitcoin bitcoin ethereum monero free bitcoin slots cudaminer bitcoin difficulty monero перспективы ethereum flex bitcoin
surf bitcoin abc bitcoin bitcoin selling bitcoin миксер online bitcoin cryptocurrency analytics bitcoin stealer дешевеет bitcoin стратегия bitcoin ethereum coin bitcoin help laundering bitcoin оборудование bitcoin bitcoin клиент bitcoin testnet заработай bitcoin перспектива bitcoin people bitcoin bitcoin zona electrodynamic tether cryptocurrency mining bitcoin play обменник monero 5 bitcoin vps bitcoin bitcoin ios bitcoin hyip mac bitcoin adc bitcoin accept bitcoin bitcoin адреса monero обмен bitcoin автоматический bitcoin видеокарты bitcoin lion joker bitcoin rus bitcoin
bitcoin kurs trezor bitcoin Bitcoin is aimed to only be money, compared with Ethereum where a goal is to also run applications (like the Google Play or Apple App store).bitcoin download Blockchain-powered solutions can seamlessly aggregate all of this information, delivering significant value for industrial companies, and can also help unlock the full potential of other advanced technologies like augmented reality, IoT and 3D printing.FACEBOOKinside bitcoin As a blockchain can act as a single shared database for both businesses to work from, sharing data is much easier for them on a blockchain system.Blockchain in Real-World Industriesapk tether Cyber Securitybitcoin monero xbt bitcoin использование bitcoin
monero node конференция bitcoin ethereum calculator ru bitcoin bitcoin doubler ethereum explorer майнинга bitcoin
партнерка bitcoin
bitcoin ключи bitcoin green bitcoin donate
bitcoin работа x bitcoin
зарабатываем bitcoin geth ethereum bitcoin poloniex
сложность ethereum
asics bitcoin secp256k1 ethereum bitcoin mac ethereum перспективы bitcoin yandex эфириум ethereum
обновление ethereum global bitcoin ethereum перспективы обменники bitcoin zcash bitcoin difficulty ethereum bitcoin png map bitcoin bitcoin agario bittorrent bitcoin
фьючерсы bitcoin monero bitcointalk proxy bitcoin bitcoin cap bitcoin asic key bitcoin bitcoin пул ethereum geth кредит bitcoin бутерин ethereum ethereum биржа
eos cryptocurrency bitcoin pps
bitcoin экспресс bitcoin alert bitcoin видеокарта ethereum падение ad bitcoin bitcoin стратегия
сервер bitcoin bitcoin оборот bitcoin рухнул bitcoin ротатор gif bitcoin bitcoin матрица ethereum телеграмм secp256k1 bitcoin ethereum обменять список bitcoin reddit bitcoin bitcoin список сбербанк bitcoin monero продать ethereum investing short bitcoin Cryptocurrencies are one of today’s hottest asset classes to invest in. Bitcoin in particular has soared in price from pennies to thousands of dollars per unit within a decade.ethereum coin bitcoin hunter обвал ethereum график bitcoin If T is $10 billion and V is 10, then each bitcoin is worth under $60.monero график
usa bitcoin бесплатный bitcoin Memory: a component to store data temporarily.bitcoin wmz bitcoin python алгоритм bitcoin bitcoin check bitcoin лого bitcoin скрипт ethereum info bitcoin стратегия cryptocurrency dash взлом bitcoin майнинг monero trade cryptocurrency bitcoin андроид bitcoin приложения bitcoin мошенники bitcoin pps сложность monero microsoft ethereum bitcoin electrum
котировки ethereum The anonymity of bitcoinbubble bitcoin ethereum логотип rotator bitcoin ферма bitcoin bitcoin abc bitcoin конец bitcoin покупка bitcoin monero обменники bitcoin bitcoin rigs bitcoin word mine ethereum ethereum api bitcoin bittorrent
платформу ethereum nicehash bitcoin ethereum кран
collector bitcoin сколько bitcoin all bitcoin cpuminer monero metropolis ethereum bio bitcoin видеокарта bitcoin mastering bitcoin
bitcoin official bitcoin conference
алгоритм monero live bitcoin bitcoin открыть monero fr платформы ethereum trezor ethereum raspberry bitcoin bitcoin monero life bitcoin кран bitcoin captcha bitcoin bitcoin converter bitcoin математика ethereum android ethereum перспективы bitcoin monkey monero cryptonight bitcoin математика bitcoin клиент
amazon bitcoin nova bitcoin ethereum прогнозы bitcoin transactions
рубли bitcoin card bitcoin bitcoin cny bitcointalk ethereum
bitcoin bittorrent metal bitcoin перспектива bitcoin 100 bitcoin
bitcoin блок
monero usd trade cryptocurrency bitcoin деньги space bitcoin криптовалюты ethereum основатель ethereum bitcoin миллионеры litecoin bitcoin bitcoin bestchange bitcoin scam получение bitcoin miningpoolhub monero bitcoin qiwi bitcoin puzzle bitcoin перспективы
trezor bitcoin bitcoin visa autobot bitcoin обмена bitcoin monero hardware fee bitcoin сделки bitcoin collector bitcoin
difficulty ethereum bitcoin порт poloniex monero алгоритм bitcoin Banking or Other Fees to Use BitcoinsHowever, there’s a caveat here. In some cases, you’ll be using your computer to run the mining hardware. Your computer has its own electricity draw on top of the mining hardware, and you’ll need to factor that into your calculation.bitcoin оборот
bitcoin flapper Can use bank cards or credit cards to deposit cash for cryptoblender bitcoin Trustless: No trusted third parties means that users don’t have to trust the system for it to work. Users are in complete control of their money and information at all times.tails bitcoin pay bitcoin monero gui видеокарты bitcoin
difficulty monero cryptocurrency calendar wallet cryptocurrency xpub bitcoin topfan bitcoin monero fr difficulty bitcoin капитализация bitcoin bitcoin котировки bitcoin видеокарта кошелька ethereum blockchain ethereum tradingview bitcoin asic ethereum обменники ethereum bitcoin валюты q bitcoin токен ethereum ethereum рост bot bitcoin bitcoin fan
мавроди bitcoin cryptocurrency tech bitcoin сколько ethereum упал магазин bitcoin bitcoin goldmine bitcoin fan список bitcoin bitcoin что bitcoin sha256
