Delegated Proof of Stake (dPoS)

This consensus mechanism was created by Daniel Larimer in order to solve Bitcoin’s perceived scaling problems. dPoS has proven to scale and is the consensus mechanism behind the 3 most active blockchains running today. It is similar to a democratic process where representatives are selected as the block producers for a blockchain.
The questions that must be answered by any consensus process include, but are not limited to:

  • Who will produce the next block of updates to apply to the database?
  • When will the next block be produced?
  • What transactions should be included in the next block?
  • How are changes to the blockchain protocol applied?
  • How should competing transaction histories be resolved?

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