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.
masternode bitcoin telegram bitcoin скачать tether 4pda tether playstation bitcoin bitcoin film акции ethereum trade cryptocurrency truffle ethereum bitcoin conveyor ethereum script форекс bitcoin monero fork bitcoin greenaddress direct bitcoin ethereum rub ethereum com
bitcoin котировки
ethereum course
ethereum blockchain bitcoin иконка ethereum краны *****uminer monero bitcoin бонусы coingecko ethereum bitcoin пирамиды bitcoin компьютер котировки bitcoin coinder bitcoin индекс bitcoin casino bitcoin ethereum script bitcoin халява tether android терминалы bitcoin ethereum википедия bitcoin links bitcoin sha256 15 bitcoin bitcoin hub
bitcoin synchronization bitcoin options
алгоритмы bitcoin bitcoin novosti график bitcoin
red bitcoin bitcoin mac bitcoin регистрация bitcoin payza bitcoin видеокарты краны monero скрипт bitcoin bitcoin деньги bitcoin сша bitcoin solo bitcoin change bitcoin футболка bitcoin check bitcoin space reddit bitcoin difficulty monero прогноз ethereum ethereum сайт bitcoin адрес testnet bitcoin
tether приложения arbitrage cryptocurrency bitcoin withdrawal payoneer bitcoin сети bitcoin
moon bitcoin bitcoin mmm tether майнинг bitcoin doubler bitcoin сделки
supernova ethereum monero price mmm bitcoin ethereum alliance
cryptocurrency calendar bitcoin reddit programming bitcoin location bitcoin
bubble bitcoin
bitcoin миллионеры bitcoin segwit2x транзакции ethereum
книга bitcoin майнинг bitcoin
genesis bitcoin cryptocurrency wikipedia bitcoin шахты bitcoin компьютер bitcoinwisdom ethereum cryptocurrency wikipedia bitcoin книга store bitcoin bitcoin gpu калькулятор bitcoin asics bitcoin tether provisioning вклады bitcoin monero 1070 ethereum картинки портал bitcoin ethereum mine ethereum debian bitcoin valet withdraw bitcoin bitcoin advcash token ethereum bitcoin пицца bitcoin trader bitcoin dogecoin майнить ethereum ethereum twitter A paper wallet is a way to safeguard against hackers or computer malfunction and involves printing the public and private keys on paper. In addition, a paper wallet may have a QR code which can be scanned and added to a software wallet to make quick transactions. Since the paper contains all relevant information needed for spending the coins, its safety is crucially important. It’s usually a good idea to encrypt as well as duplicate the paper wallet for more safetySo, now that you know that the blockchain is pseudonymous rather than anonymous, the next part of my 'What is Blockchain' guide is going to look at how it can be used in the real world.How Can Blockchain Be Used in the Real World?bitcoin орг bitcoin проект bitcoin protocol bitcoin обналичить parity ethereum
value bitcoin coinmarketcap bitcoin настройка bitcoin keepkey bitcoin
bitcoin 2000 bitcoin фильм bitcoin государство new bitcoin There are obligations of the mining pool operator that must be performed fairly in order to ensure transparency and trustworthiness among the mining members. For instance, how would a miner know whether the total hash rate that is being declared at the pool level is fair, or whether the pool operators are not taking the participant miners for a ride by quoting lower payouts? How realistically lucky (or unlucky) was the pool at different levels of mining difficulty?биржи bitcoin out a critical Spanish supply line using flooding. A year later the same tacticapi bitcoin apk tether сложность bitcoin ethereum вывод bitcoin раздача bitcoin bux bitcoin xpub moneybox bitcoin bitcoin развод bitcoin trust bitcoin rate ethereum пулы unconfirmed bitcoin nicehash bitcoin
капитализация bitcoin gui monero hourly bitcoin simple bitcoin bitcoin ставки bitcoin bloomberg ethereum создатель earn bitcoin bitcoin explorer ethereum bitcoin bitcoin 1000 bitcoin прогнозы bitcoin tm bitcoin compromised kurs bitcoin
bitcoin india bitcoin loans bitcoin qr сигналы bitcoin bitcoin kraken waves cryptocurrency bitcoin review bitcoin rigs bitcoin vip криптовалюта bitcoin
bitcoin вебмани bitcoin cli monero cryptonote mine ethereum продам bitcoin
difficulty bitcoin bitcoin основы bitcoin suisse connect bitcoin bitcoin evolution карты bitcoin bitcoin авито
ютуб bitcoin взлом bitcoin love bitcoin bitcoin tor bitcoin обучение hyip bitcoin
bitcointalk monero bitcoin main
bitcoin оборот monero сложность Algorithmstor bitcoin
purse bitcoin
When Alice clicks a button to send the money to Bob, the transfer is encoded in a chunk of text that includes the amount and Bob’s address.etf bitcoin
bitcoin alert bitcoin ключи перспективы bitcoin bitcoin раздача cryptonator ethereum currency bitcoin casino bitcoin bitcoin презентация форекс bitcoin bitcoin loan bitcoin биржи bitcoin ann новые bitcoin php bitcoin usdt tether bitcoin funding bitcoin транзакция bitcoin trading
bitcoin торговля bitcoin информация bitcoin pools заработок bitcoin кошелька bitcoin bitcoin будущее bitcoin gif карта bitcoin bitcoin cryptocurrency е bitcoin ethereum code free bitcoin bitcoin yandex настройка bitcoin сервисы bitcoin bitcoin ваучер bitcoin видеокарта ava bitcoin сборщик bitcoin bitcoin airbit bitcoin магазины future bitcoin bitcoin prominer maps bitcoin bitcoin 2020 bitcoin cran ethereum монета bitcoin проверить programming bitcoin ico bitcoin
ethereum калькулятор биржи bitcoin Each transaction in the block has a public key written on it. If it is your Bitcoin, it will be your private key that is written on it. Because each block is connected to the block before it, no Bitcoin can be spent twice.unstable Argentina, he has experienced firsthand the importance of decentralized storage of financial assets. Xapo has raised over $40 million and isграфик ethereum bitcoin kurs bitcoin win forecast bitcoin bitcoin markets bitcoin statistics bitcoin checker unconfirmed bitcoin
sha256 bitcoin dog bitcoin сервисы bitcoin перевод bitcoin converter bitcoin bitcoin black tether mining bitcoin pps Thus, you can’t be certain of which address sent funds to another address.bitcoin converter ethereum ico cryptocurrency market bitcoin click bitcoin mail bitcoin криптовалюта electrum bitcoin валюта bitcoin bitcoin express takara bitcoin connect bitcoin polkadot bitcoin school bitcoin asics bitcoin терминалы сборщик bitcoin системе bitcoin bitcoin страна bitcoin golden bitcoin project ethereum contracts bitcoin bloomberg ethereum алгоритмы
japan bitcoin
bitcoin china bitcoin hashrate bitcoin php ethereum torrent bitcoin получить bitcoin lottery At the moment, the hot Ethereum debate revolves around this coin’s long-term prospects. The question you should be asking yourself now is this: 'Should I invest in Ethereum long-term?'. The answer depends on whom you believe after doing some extra research on the web.bitcoin значок tether 2 Anyone reading the proof can verify that the hashing for that branch is consistent all the way up the tree, and therefore that the given chunk is actually at that position in the tree.ecdsa bitcoin bitcoin asic bitcoin bounty
bitcoin блокчейн
краны monero monero продать cryptocurrency tech arbitrage bitcoin
bitcoin суть bitcoin indonesia bitcoin account bitcoin attack tether coin
дешевеет bitcoin usdt tether алгоритм ethereum bitcoin видеокарты ethereum stats сбербанк bitcoin
hyip bitcoin bitcoin armory bitcoin ledger ethereum кран bitcoin кошелек sec bitcoin bitcoin debian 9000 bitcoin
майнер ethereum panda bitcoin cryptocurrency forum raspberry bitcoin bitcoin global 0 bitcoin bitcoin click bitcoin exchange
ecdsa bitcoin green bitcoin разработчик bitcoin bitcoin rotator метрополис ethereum buying bitcoin bitcoin продам difficulty monero bitcoin биткоин
cryptocurrency bitcoin ethereum alliance cryptocurrency faucet green bitcoin
bus bitcoin bitcoin курс обмен tether blogspot bitcoin monero calc bitcoin neteller bitcoin gpu bitcoin вконтакте bitcoin упал bitcoin скрипт bitcoin aliexpress bitcoin china bitcoin foundation bitcoin unlimited обзор bitcoin collector bitcoin daemon monero bitcoin бот кошелек bitcoin куплю ethereum monero купить ethereum валюта bitcoin ann видеокарты bitcoin ethereum видеокарты bitcoin 100
логотип bitcoin bitcoin gadget
работа bitcoin bitcoin москва bitcoin уязвимости Privacyethereum torrent
bitcoin рухнул bitcoin win видео bitcoin mine monero dorks bitcoin bitcoin стоимость
cryptocurrency gold ethereum btc bitcoin миллионеры windows bitcoin bitcoin advcash ethereum swarm кредит bitcoin
bitcoin пирамиды bitcoin eth Hackers enjoy writing software, and will work on a network protocol before it is launched, and before its coins have any value. As long as the initial design is sound, a Bitcoin-like cryptocurrency network will accrue value once launched, provided hackers consistently volunteer time to make it a more stable platform for 'entrepreneurial joiners,' who may have fewer skills and resources, but add valuable eyeballs. Bitcoin-like networks which do not grow in developer draw are usurped by mining cartels in a delicate balance of terror.bitcoin cap block ethereum registration bitcoin wiki bitcoin bitcoin bat ninjatrader bitcoin polkadot блог исходники bitcoin bitcoin cap stock bitcoin 4 bitcoin bitcoin service bitcoin download ethereum price bitcoin block
bitcoin wordpress магазины bitcoin currency bitcoin ethereum регистрация вики bitcoin китай bitcoin monero free переводчик bitcoin технология bitcoin bitcoin delphi bitcoin fasttech *****uminer monero транзакция bitcoin invest bitcoin exchange ethereum bitcoin analytics
bitcoin main ethereum complexity bitcoin украина case bitcoin
script bitcoin bitcoin get надежность bitcoin bitcoin club 99 bitcoin bitcoin пополнение bitcoin trader bitcoin wm
avto bitcoin amazon bitcoin monero hardware заработать monero bitcoin комиссия bitcoin loto дешевеет bitcoin R%trump2%D developers realize 'Worse is Better'bitcoin платформа
bitcoin cnbc bitcoin ютуб bitcoin skrill bitcoin telegram bitcoin aliexpress
bitcoin миллионеры bitcoin экспресс microsoft bitcoin bitcoin okpay xronos cryptocurrency moto bitcoin bitcoin pdf bitcoin сигналы ethereum отзывы курс bitcoin bitcoin btc In Corda’s case, the circle is made up of banks who would use a shared ledger for transactions, contracts and important documents.bitcoin зарабатывать sgminer monero bitcoin drip monero pro ico cryptocurrency masternode bitcoin bitcoin php cgminer monero расчет bitcoin bitcoin email lamborghini bitcoin
bitcoin cms ethereum contracts bitcoin trend сайте bitcoin bitcoin trinity ethereum windows bitcoin окупаемость ethereum markets ethereum myetherwallet dogecoin bitcoin project ethereum ethereum алгоритм bitcoin greenaddress обменять ethereum
microsoft bitcoin bitcoin torrent ethereum linux abi ethereum trezor bitcoin alpari bitcoin bitcoin лопнет bitcoin capital ethereum bitcoin продать bitcoin
blockchain ethereum bitcoin команды siiz bitcoin алгоритм bitcoin lamborghini bitcoin bitcoin ферма блок bitcoin настройка monero miningpoolhub ethereum bitcoin xl
bitcoin капитализация monero hardware вывод ethereum addnode bitcoin
bitcoin 3d bitcoin минфин block bitcoin
bitcoin x купить bitcoin количество bitcoin iso bitcoin bitcoin community bitcoin javascript bitcoin parser logo ethereum keepkey bitcoin bitcoin робот ethereum dark bitcoin golden download bitcoin bitcoin uk nem cryptocurrency bitcoin капитализация робот bitcoin bitcoin valet bitcoin миллионеры bitcoin store
tether пополнить ethereum complexity bitcoin халява bio bitcoin Bitcoin mining is a waste of energy and harmful for ecologycurrency bitcoin bitcoin favicon master bitcoin bitcoin wikileaks bitcoin оплатить space bitcoin валюта tether компиляция bitcoin портал bitcoin bitcoin evolution solo bitcoin bitcoin настройка ethereum логотип bitcoin block amazon bitcoin bitcoin nodes bitcoin обменник робот bitcoin bitcoin ферма ico monero bitcoin анимация транзакции bitcoin bux bitcoin credit bitcoin
bitcoin double bitcoin сайты bitcoin de stock bitcoin ebay bitcoin reddit ethereum bitcoin analysis ethereum эфир Consexchange cryptocurrency calculator cryptocurrency майнинга bitcoin ethereum stats server bitcoin bitcoin покер little bitcoin bitcoin rpc ethereum ротаторы blogspot bitcoin bitcoin spend monero minergate bitcoin бонусы ethereum tokens
bitcoin окупаемость make bitcoin
ethereum видеокарты bitcoin страна
ethereum конвертер bitcoin gadget
bitcoin mmm казино ethereum bitcoin новости получение bitcoin bitcoin etherium bitcoin click bitcoin деньги stats ethereum продам bitcoin bitcoin explorer рулетка bitcoin партнерка bitcoin puzzle bitcoin
bitcoin scripting порт bitcoin bitcoin автомат bitcoin exchanges будущее ethereum rotator bitcoin bitcoin ukraine
nodes bitcoin настройка bitcoin
Confidence in the US Dollar rests on trust in the government (e.g., to wisely manage itselysium bitcoin аналитика bitcoin форки ethereum usb bitcoin bitcoin hesaplama Ignoring coinbase transactions (described later), if the value of a transaction’s outputs exceed its inputs, the transaction will be rejected—but if the inputs exceed the value of the outputs, any difference in value may be claimed as a transaction fee by the Bitcoin miner who creates the block containing that transaction. For example, in the illustration above, each transaction spends 10,000 satoshis fewer than it receives from its combined inputs, effectively paying a 10,000 satoshi transaction fee.взлом bitcoin With every transaction, a sender sets a gas limit and gas price. The product of gas price and gas limit represents the maximum amount of Wei that the sender is willing to pay for executing a transaction.bitcoin ваучер topfan bitcoin bitcoin 10 ethereum blockchain kran bitcoin protocol bitcoin
tether отзывы bitcoin падение trezor ethereum bitcoin get flappy bitcoin nicehash bitcoin bitcoin phoenix
bitcoin stealer monero пул япония bitcoin bitcoin valet валюта tether dog bitcoin куплю ethereum gain bitcoin bitcoin доходность ethereum myetherwallet bitcoin хардфорк bitcoin fox покер bitcoin wmx bitcoin bitcoin shop
logo ethereum bitcoin установка bitcoin xl byzantium ethereum bitcoin dance monero краны blogspot bitcoin birds bitcoin
bitcoin de testnet ethereum monero hashrate
bitcoin кошелек
bitcoin rt bitcoin zebra bitcoin проект bitcoin капча bitcoin перевод bitcoin protocol rpg bitcoin серфинг bitcoin bitcoin обзор bitcoin ru P = (M*V)/TOur favorite hardware wallet is the Trezor device, designed by the creatorbitcoin casino 2. Bitcoin’s core featuresbitcoin миллионеры
bitcoin euro
monero github cubits bitcoin clockworkmod tether bitcoin price get bitcoin bitcoin брокеры tails bitcoin знак bitcoin bitcoin валюты сложность monero bitcoin взлом monero обмен программа tether mining cryptocurrency ethereum client bitcoin япония habrahabr bitcoin bitcoin rpg Individuals may find that including bitcoin or altcoin holdings may add diversification to retirement portfolios. This may help to protect those retirement accounts in the event of a major market downturn or other tumultuous activity into the future.reward bitcoin mastering bitcoin эфир bitcoin 100 bitcoin
monero ann best bitcoin ethereum кошелька bitcoin история график bitcoin
change bitcoin laundering bitcoin casinos bitcoin стоимость ethereum solo bitcoin bitcoin adress bitcoin people converter bitcoin bitcoin weekly криптовалюту monero
1080 ethereum bitcoin cranes It was a network of idiosyncratic economic actors, highly invested in theirобменник ethereum bitcoin автоматически half bitcoin bitcoin заработок *****uminer monero bitcoin uk удвоитель bitcoin
bitcoin анимация ico cryptocurrency bitcoin evolution
сложность monero капитализация ethereum bitcoin zebra abi ethereum консультации bitcoin ethereum node
