Delegated Proof-of-Stake (dPOS)
By CoinGecko | Updated on Mar 03, 2020
A consensus mechanism where selected members of a network are voted as delegates to validate transactions and produce blocks on a blockchain.
Members of the network vote for delegates through their holdings. Usually the highest voted delegates have the most power and tend to produce the most blocks and therefore rewards. Some protocols have built in mechanisms to balance it out.
Overall, the delegated proof-of-stake system was built to counter the energy use and efficiency issues of the proof-of-work blockchain, at the cost of some degree of centralization.
Related Terms
Directed Acyclic Graph (DAG)
Directed acyclic graphs refers to a data structure that is built in one single direction, yet branches out and never repeats.
Derivatives Market
A market for derivatives which are instruments such as futures or options whose value is derived from an underlying asset.
opML (Optimistic Machine Learning)
opML (Optimistic Machine Learning) employs an optimistic verification mechanism and is able to handle large-scale machine learning models with billions of parameters efficiently, using fraud proofs that verify the ML computation.
ERC-1155
ERC-1155 token standard allows each token ID to represent both non-fungible (NFTs) and fungible tokens which may have their metadata, token supply and other attributes.
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