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- Delegated Proof-of-Stake (DPoS): Everything You Need to Know.
Delegated Proof-of-Stake (DPoS): Everything You Need to Know.
To dive deeper, check out the complete article from original source:
https://droomdroom.com/delegated-proof-of-stake-dpos-explained/
DPoS is a next-gen consensus mechanism used in blockchain networks where users vote for delegates π³οΈ to validate transactions and secure the network. Unlike Proof-of-Work (PoW) β‘ and Proof-of-Stake (PoS) π°, DPoS is faster, more scalable, and energy-efficient π±.
How DPoS Works?
Users stake tokens to vote for delegates ποΈ.
Elected delegates propose & validate blocks β .
The process ensures high-speed transactions β© and decentralized decision-making.
β Pros of DPoS:
πΉ Instant transactions π β Faster than PoW & PoS.
πΉ Democratic system π³οΈ β Users influence governance.
πΉ Incentive-driven π β Both users & delegates earn rewards.
πΉ Secure & scalable π β Improves PoS & PoW security.
πΉ Eco-friendly π β Uses minimal power.
β Cons of DPoS:
πΈ Vote buying risk π΅ β Delegates may manipulate votes.
πΈ Favoritism & bias π€ β Well-known users gain an advantage.
πΈ Complex governance π οΈ β Requires active maintenance.
With its staking mechanism, reward system, and decentralized nature, DPoS is a powerful alternative to traditional consensus models! π