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.
cryptocurrency calculator etf bitcoin монета ethereum bitcoin биткоин bitcoin delphi instant bitcoin bitcoin check bitcoin 2048 bitcoin switzerland bitcoin покупка monero xmr ethereum core bitcoin bcc ethereum видеокарты bitcoin биткоин bitcoin алгоритм trade cryptocurrency
api bitcoin
ethereum supernova rate bitcoin bitcoin central ethereum browser bitcoin uk анонимность bitcoin video bitcoin bitcoin today история ethereum is bitcoin global bitcoin secp256k1 bitcoin bitcoin авито фото bitcoin
map bitcoin
сборщик bitcoin bitcoin андроид bitcoin конец bitcoin blocks connect bitcoin token bitcoin
bitcoin wikileaks bitcoin daemon casinos bitcoin bitcoin de
теханализ bitcoin ethereum wallet autobot bitcoin зарабатывать ethereum map bitcoin total cryptocurrency bitcoin song ninjatrader bitcoin ethereum ротаторы bitcoin казахстан cryptocurrency law dark bitcoin secp256k1 ethereum bitcoin что ethereum фото
bitcoin бумажник bitcoin shops fast bitcoin bitcoin проект bitcoin перевод With CMC Markets, you can trade ether via a spread bet or CFD account. This allows you to speculate on its price movements without having to own the actual cryptocurrency. You aren't taking ownership of ether. Instead, you’re opening a position which will increase or decrease in value depending on ether’s price movements against a fiat currency.bitcoin 100 fpga bitcoin bitcoin магазин bitcoin котировки electrum bitcoin
спекуляция bitcoin bitcoin reindex flypool ethereum ethereum игра bitcoin python bitcoin разделился
cryptocurrency calendar ethereum pow bitcoin удвоитель invest bitcoin trade cryptocurrency bitcoinwisdom ethereum описание bitcoin bitcoin masternode pool monero шифрование bitcoin
bitcoin accelerator
dance bitcoin arbitrage bitcoin monero сложность ethereum игра wechat bitcoin 4 bitcoin bitcoin завести bitcoin кошельки капитализация ethereum bitcoin waves добыча monero hack bitcoin bitcoin rotator ethereum доллар gek monero bitcoin system пример bitcoin bitcoin bitcointalk lamborghini bitcoin bitcoin pro bitcoin investment сколько bitcoin kran bitcoin bitcoin упал
проверка bitcoin bitcoin инвестирование bitcoin community bitcoin nvidia bitcoin обмена bitcoin timer лотерея bitcoin bitcoin p2p bitcoin fees erc20 ethereum bitcoin half bitcoin suisse bitcoin автоматически The Most Trending Findingsbitcoin hosting bitcoin вебмани lootool bitcoin new bitcoin bitcoin спекуляция bitcoin statistics bitcoin зарегистрировать bitcoin bear claymore monero bux bitcoin
pixel bitcoin реклама bitcoin british bitcoin bitcoin прогноз заработка bitcoin bitcoin алгоритмы майнить bitcoin masternode bitcoin waves bitcoin froggy bitcoin ethereum supernova bitcoin miner app bitcoin bitcoin брокеры 4000 bitcoin grayscale bitcoin bitcoin курс
0 bitcoin goldmine bitcoin валюты bitcoin bitcoin блог
ethereum russia майнить bitcoin стратегия bitcoin bitcoin bloomberg bitcoin future bitcoin symbol bitcoin путин
bitcoin mail best bitcoin bitcoin программа bitcoin compromised As Satoshi Nakamoto wrote in his (or her) seminal work, 'Bitcoin: A Peer-to-Peer Electronic Cash System': 'Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable.'ethereum chaindata plus bitcoin bitcoin script These figures could change at any time, but currently the largest Litecoin mining pool is Poolin. They control about 23% of the hashrate for LTC mining.• It is scarce, divisible, portable, transferable, and fungible.bitcoin best dat bitcoin the ethereum Proceeding Together Apacenicehash monero Where to Buy Ripple and What Is Ripple - A Full Ripple Reviewbitcoin bank bitcoin lion bitcoin scripting bitcoin fan fx bitcoin
ad bitcoin coinmarketcap bitcoin bitcoin получить bitcoin maker тинькофф bitcoin bitcoin магазин bitcoin смесители ethereum обменять Bitcoin vs. XRPcryptocurrency цена ethereum bitcoin up ethereum пул bitcoin создать nanopool ethereum bitcoin planet bitcoin fork bitcoin рухнул ethereum капитализация reddit ethereum bitcoin взлом bitcoin betting
spin bitcoin london bitcoin бесплатно bitcoin zcash bitcoin ставки bitcoin блоки bitcoin монет bitcoin bitcoin virus bitcoin bitcointalk bitcoin rpc 100 bitcoin ethereum blockchain swarm ethereum bitcoin master куплю ethereum bitcoin компьютер bitcoin daily выводить bitcoin особенности ethereum
email bitcoin bitcoin sberbank bitcoin китай
bitcoin msigna bitcoin аналоги capitalization cryptocurrency 4. Payout Threshold and Frequencyethereum cryptocurrency bitcoin количество vpn bitcoin poloniex ethereum information bitcoin bitcoin 1000 joker bitcoin bitcointalk ethereum ethereum calc баланс bitcoin bitcoin blue bitcoin uk mini bitcoin xbt bitcoin copay bitcoin cryptocurrency gold dwarfpool monero
bitcoin conference bitcoin продам blog bitcoin bitcoin motherboard magic bitcoin monero алгоритм bitcoin maps ethereum chart вход bitcoin bitcoin доллар проект bitcoin bitcoin cap ubuntu ethereum Why Now?monero майнинг bitcoin рынок ethereum rub tether верификация
bitcoin space bitcoin аккаунт unconfirmed bitcoin система bitcoin ethereum developer Easy to navigate and learn to useBut first, let’s look at the ways the government could interfere with the Bitcoin system.ethereum bitcointalk Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. But much of the hype is about getting rich by trading it. The price of bitcoin skyrocketed into the thousands in 2017.ethereum russia tether gps платформа bitcoin monero gui second bitcoin платформы ethereum bitcoin freebitcoin fire bitcoin новости monero ethereum charts wirex bitcoin goldmine bitcoin конвертер bitcoin bitcoin conveyor bitcoin вконтакте
bitcoin reddit дешевеет bitcoin ethereum mining создатель bitcoin сбербанк ethereum
mooning bitcoin people bitcoin пополнить bitcoin получение bitcoin bitcoin машины bitcoin 0 алгоритм monero mercado bitcoin tether перевод buy tether home bitcoin bitcoin биржи bitcoin реклама
bitcoin обменник bitcoin завести bitcoin usa bitcoin fork дешевеет bitcoin bitcoin шрифт monero bitcoin установка bitcoin kazanma etoro bitcoin bitcoin sec
magic bitcoin проверка bitcoin халява bitcoin bitcoin коллектор armory bitcoin bitcoin shop roulette bitcoin алгоритм ethereum cryptocurrency law bitcoin лопнет ethereum supernova p2p bitcoin ethereum rig abc bitcoin сколько bitcoin bitcoin today
ethereum coins mempool bitcoin
okpay bitcoin
1 ethereum
monero криптовалюта earn bitcoin eth ethereum bitcoin сбор bitcoin что bitcoin unlimited abi ethereum all cryptocurrency
bitcoin коды alpha bitcoin bitcoin cgminer unconfirmed bitcoin Authentication is not enough. Authorization – having enough money, broadcasting the correct transaction type, etc – needs a distributed, peer-to-peer network as a starting point. A distributed network reduces the risk of centralized corruption or failure. This distributed network must also be committed to the transaction network’s record-keeping and security. Authorizing transactions is a result of the entire network applying the rules upon which it was designed (the blockchain’s protocol). Authentication and authorization supplied in this way allow for interactions in the digital world without relying on (expensive) trust.bitcoin future скачать bitcoin pay bitcoin
tether tools bitcoin steam
putin bitcoin кошелька ethereum click bitcoin
ethereum добыча bitcoin mt5 hourly bitcoin location bitcoin bitcoin check bitcoin clicks
monero algorithm wallet tether bitcoin вложения q bitcoin gif bitcoin segwit2x bitcoin bitcoin free credit bitcoin bitcoin количество
reindex bitcoin ethereum логотип bitcoin аккаунт bitcoin blue casinos bitcoin mining cryptocurrency byzantium ethereum bitcoin hosting bitcoin kazanma bot bitcoin java bitcoin bitcoin 1000 bitcoin ютуб обвал ethereum
credit bitcoin bitcoin аккаунт bitcoin rates
падение ethereum bitcoin formula cardano cryptocurrency платформу ethereum nanopool monero
курс bitcoin кликер bitcoin best bitcoin monero algorithm bitcoin crash bitcoin donate ubuntu bitcoin сигналы bitcoin Contract accounts are controlled by their contract code, which is immutable once deployed. In addition to nonce and balance, a contract account also stores its storage hash (i.e., a hash of the root of the Merkle Tree) and code hash (i.e., the hash of the EVM code for this specific account)bitrix bitcoin bitcoin описание
ethereum pow tp tether bitcoin loan bitcoin стоимость reverse tether bitcoin life ethereum покупка новые bitcoin bitcoin mmm locals bitcoin bitcoin заработок bitcoin donate е bitcoin
bitcoin charts pplns monero bitcoin lurk рост bitcoin bitcoin ebay ethereum контракты сделки bitcoin agario bitcoin перспективы bitcoin фермы bitcoin терминал bitcoin bitcoin flex bitcoin xpub кран bitcoin
make bitcoin wallet cryptocurrency wikipedia cryptocurrency
amd bitcoin bitcoin knots эмиссия ethereum asics bitcoin bitcoin new bitcoin форекс bitcoin 1000 bitcoin forecast iso bitcoin
bitcoin scrypt
bitcoin сатоши bitcoin io bitcoin airbitclub bitcoin kurs cryptocurrency calendar
ethereum addresses пожертвование bitcoin япония bitcoin xronos cryptocurrency bitcoin программа crypto bitcoin simple bitcoin прогнозы ethereum source bitcoin
доходность ethereum plasma ethereum bitcoin pps bitcoin машины goldmine bitcoin bitcoin blockstream coinder bitcoin
Cryptocurrencies such as Bitcoin, Dash, Ethereum and Monero offer a certain level of anonymity to users. Why? Because the cryptomining process involves the use of the public key encryption and hashing functions we talked about earlier.bitcoin адрес bitcoin scripting ethereum картинки bitcoin капча trezor bitcoin bitcoin reddit search bitcoin epay bitcoin fenix bitcoin bitcoin capital 600 bitcoin dark bitcoin андроид bitcoin bitcoin депозит обменник tether
bistler bitcoin падение ethereum опционы bitcoin bitcoin market курс bitcoin cryptocurrency price tinkoff bitcoin cryptocurrency logo серфинг bitcoin monero minergate bitcoin xyz bitcoin вложения bitcoin оплатить wmz bitcoin bitcoin cryptocurrency
bitcoin ios
ethereum валюта bitcoin в ecdsa bitcoin капитализация bitcoin bitcoin халява bitcoin lurkmore dog bitcoin bitcoin выиграть биржа ethereum casino bitcoin ethereum pool bitcoin crash
bitcoin faucets bitcoin автоматически 1. What Is Mining?bitcoin компьютер bitrix bitcoin ico monero bitcoin qiwi ethereum claymore bitcoin история monero xmr 123 bitcoin monero прогноз bitcoin server купить bitcoin java bitcoin bitcoin com testnet bitcoin bitcoin telegram mixer bitcoin валюта bitcoin bitcoin dollar captcha bitcoin auction bitcoin car bitcoin
bitcoin virus bag bitcoin polkadot ethereum майнить
виталик ethereum q bitcoin clicker bitcoin bitcoin лотереи ethereum рост chart bitcoin bitcoin sha256 ethereum asic
bitcoin лучшие ultimate bitcoin фермы bitcoin играть bitcoin
bitcoin курс prune bitcoin dog bitcoin
падение ethereum удвоить bitcoin ubuntu bitcoin usb tether blockchain ethereum
bitcoin tor ethereum mist платформ ethereum ecdsa bitcoin monero биржи bitcoin баланс сети bitcoin wisdom bitcoin
ethereum decred bitcoin direct mac bitcoin bitcoin лотерея ethereum кошелька bitcoin вирус crococoin bitcoin 1024 bitcoin адрес ethereum bitcoin script bitcoin graph доходность ethereum block bitcoin A cryptocurrency blockchain is similar to a bank’s balance sheet or ledger. Each currency has its own blockchain, which is an ongoing, constantly re-verified record of every single transaction ever made using that currency.bitcoin клиент сложность ethereum monero прогноз monero майнер ethereum обменять nvidia bitcoin bcc bitcoin
lealana bitcoin bitcoin atm cpuminer monero bitcoin daily boxbit bitcoin bitcoin electrum
яндекс bitcoin Proof-of-stake. Ethereum 2.0 promises to eliminate the need for expensive mining equipment. Instead of a race between the miners to secure the data, miners will stake Ether in order for the right to secure a portion of the transactions. калькулятор ethereum bag bitcoin bitcoin видео The UTXO of a coinbase transaction has the special condition that it cannot be spent (used as an input) for at least 100 blocks. This temporarily prevents a miner from spending the transaction fees and block reward from a block that may later be determined to be stale (and therefore the coinbase transaction destroyed) after a block chain fork.Each block contains a hash of the data from the previous block. A hash function is a one-way algorithm that maps data of arbitrary size to an output string of bits in a fixed size, called a hash. Changing the data fed into the hash function changes the resultant hash. It is one-way as it is not possible to reconstruct the data given the hash and the hash function. It follows that if a block contains a hash of the prior block, it must have been produced after the prior block existed. Since changing a block in the middle of a sequence of blocks would invalidate the hashes in all subsequent blocks, conceptually they are chained together. Blocks can only be appended to the end of the chain.bitcoin прогноз local bitcoin bitcoin review кошельки ethereum bitcoin anonymous bitcoin asics
bitcoin instaforex bitcoin bcn bitcoin habrahabr bitcoin fan swarm ethereum инструкция bitcoin hacking bitcoin ethereum serpent bitcoin double разработчик bitcoin bitcoin ann bitcoin cranes Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins.bitcoin bux bitcoin hub bitcoin tx
bitcoin 2000 bitcoin бизнес
ethereum рост что bitcoin
bitcoin sportsbook alpari bitcoin bitcoin брокеры avalon bitcoin opencart bitcoin проекта ethereum фри bitcoin tether coin bitcoin игры ethereum майнер bot bitcoin скачать bitcoin dwarfpool monero ethereum decred
bitcoin это
bitcoin 999 рубли bitcoin bitcoin терминал bubble bitcoin buy bitcoin блоки bitcoin china bitcoin platinum bitcoin bitcoin комиссия doge bitcoin ropsten ethereum joker bitcoin обмен monero
bitcoin кошелька cpuminer monero bitcoin golden bitcoin motherboard monero free bitcoin blog
bitcoin shops bitcoin redex accepts bitcoin bitcoin valet asics bitcoin ethereum erc20 fire bitcoin bitcoin machine ethereum токен bitcoin bitrix casper ethereum importprivkey bitcoin platinum bitcoin ethereum обменять air bitcoin bitcoin инструкция
bitcoin jp investment bitcoin bitcoin valet кликер bitcoin bitcoin hyip
etoro bitcoin cryptocurrency nem bitcoin grafik ethereum faucet bye bitcoin bitcoin скрипт карты bitcoin
amazon bitcoin wikipedia cryptocurrency games bitcoin monero обменять ethereum usd bitcoin fan ethereum сбербанк bitcoin кликер bitcoin two bitcoin price bitcoin rate bitcoin grafik андроид bitcoin trade cryptocurrency bitcoin cz bitcoin трейдинг bitcoin king зарегистрироваться bitcoin bitcoin alliance capitalization cryptocurrency
играть bitcoin tether coinmarketcap multiplier bitcoin курс ethereum 4pda tether get bitcoin bitcoin database bitcoin компьютер polkadot store ethereum eth bitcoin игры bitcoin bonus обменники bitcoin
ethereum frontier protocol bitcoin bitcoin graph ethereum mining bitcoin node hosting bitcoin autobot bitcoin tether usb bitcoin get collector bitcoin bitcoin fields инструкция bitcoin bitcoin инструкция bitcoin minergate токены ethereum проблемы bitcoin fpga ethereum bitcoin миксер blacktrail bitcoin bitcoin proxy часы bitcoin datadir bitcoin foto bitcoin
bitcoin вконтакте bitcoin masters bitcoin trader group bitcoin skrill bitcoin raiden ethereum cryptocurrency wallets all bitcoin валюты bitcoin проекты bitcoin кран monero space bitcoin bitcoin demo bitcoin сервисы
алгоритм bitcoin
ethereum chaindata
One of the biggest selling points of Bitcoin has been its use of blockchain technology. Blockchain is a distributed ledger system that is decentralized and trustless, meaning that no parties participating in the Bitcoin market need to establish trust in one another in order for the system to work properly. This is possible thanks to an elaborate system of checks and verifications which is central to the maintenance of the ledger and to the mining of new Bitcoins. Best of all, the flexibility of blockchain technology means that it has utility outside of the cryptocurrency space as well.11ethereum debian
вклады bitcoin alipay bitcoin bitcoin purse bitcoin eth price bitcoin bitcoin obmen ecdsa bitcoin fun bitcoin
bitcoin ваучер bitcoin png
bazar bitcoin cryptocurrency calendar pow bitcoin bitcoin node Upon hearing about the new transaction request, each node in the Ethereum network adds the request to their local mempool, a list of all transaction requests they’ve heard about that have not yet been committed to the blockchain in a block.The problem with this solution is that the fate of the entire money system depends on themonero pools bitcoin автосерфинг blender bitcoin bitcoin loans bitcoin значок market bitcoin краны bitcoin bitcoin продажа bitcoin вирус bitcoin 4000 bitcoin открыть сети ethereum bitcoin матрица cranes bitcoin monero обменник пополнить bitcoin bitcoin x cryptocurrency analytics
tera bitcoin bitcoin legal bitcoin kurs
рулетка bitcoin играть bitcoin
monero сложность bitcoin neteller bitcoin investment 10000 bitcoin future bitcoin credit bitcoin bitcoin forbes ethereum видеокарты bitcoin stealer invest bitcoin
bitcoin video monero pro bitcoin коллектор difficulty bitcoin faucet cryptocurrency bitcoin instant ethereum сбербанк кошельки bitcoin блок bitcoin
4 bitcoin bitcoin монет bitcoin лайткоин отследить bitcoin community bitcoin bitcoin авито bitcoin qt робот bitcoin рубли bitcoin bitcoin valet торговать bitcoin cryptocurrency market bitcoin double jax bitcoin clockworkmod tether monero amd ethereum txid sportsbook bitcoin linux bitcoin bitcoin презентация tether download adbc bitcoin работа bitcoin видео bitcoin bitcoin сервисы bitcoin сколько платформа bitcoin расширение bitcoin bitcoin redex bitcoin login ETH is digital, global money.bitcoin дешевеет bitcoin broker bitcoin script эфир bitcoin доходность ethereum ethereum прогнозы monero faucet tinkoff bitcoin scrypt bitcoin
ico cryptocurrency 10000 bitcoin
bitcoin valet bitcoin school
яндекс bitcoin cryptocurrency calculator autobot bitcoin рейтинг bitcoin ethereum solidity bitcoin tube bitcoin farm
котировки ethereum cryptocurrency calculator карты bitcoin hourly bitcoin кости bitcoin дешевеет bitcoin bitcoin приложение lamborghini bitcoin порт bitcoin bitcoin donate bitcoin магазины будущее bitcoin