Announcement

Collapse
No announcement yet.

Consensus Algorithm Delegated Proof-of-Stake

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Consensus Algorithm Delegated Proof-of-Stake

    DPoS (Delegated Proof-of-Stake)


    The delegated Proof-of-Stake algorithm is very different from PoS. The mechanism involves selecting a certain number of validators among all network members that confirm transactions and participate in generating a block as scheduled. The selection of validators is based on the reputation of members; those persons enjoy limited trust and have the right to confirm a chain of blocks while not allowing malicious users to interfere. That said, validators are re-elected every round, with the round speed being specific to each system. Stakeholders have got something to lose and therefore control the process, thus ensuring an honest agreement. Malicious or procrastinatory behaviors of delegates will be seen in the system and constitute grounds for their removal from the list of validators in the course of voting.


    Pros of DPoS:


    ● Network members are interested in the honesty of transactions. The reputation system proves to be a powerful impetus to keep the system in order in compliance with the fair competition rules.

    ● The transaction speed is higher as compared with PoS. Delegates are in a position to cooperate and not compete with each other, partial centralization allows consensus to be reached faster.

    ● High computational performance is not required. There is no need to recalculate the entire chain of blocks, it is only the block received from another trusted node that undergoes verification.

    ● High network stability. Even if some nodes fail, the community can vote for their replacement.


    Cons of DPoS:


    ● The precise extent of reliability of this algorithm still remains to be found, but for the time being, all attempts to hack it have been unsuccessful.

    ● Wallet holders need continuous motivation in order for their activity to be maintained at a proper level.

  • #2
    Great explanation. High network stability is very important for current stage of development and stress test. When tps results? Still in Aug? Just interesting to check this theory in practice

    Comment


    • #3
      Originally posted by Einiesta90 View Post
      Great explanation. High network stability is very important for current stage of development and stress test. When tps results? Still in Aug? Just interesting to check this theory in practice
      Thank for your feedback! Official TPS test will happen during August. Please wait for further information on Credits social media.

      Comment


      • #4
        Hello there! I'd like to know how to become masternode and what are the requirements to become one, i.e. do I need any coins or something?

        Comment


        • DanilL
          DanilL commented
          Editing a comment
          Hello, Ben! There is no masternode on CS platform. We have common node, trusted node and main node. You don't need any coins to become any of the nodes, because roles are assigned randomly: each new round the list of all used network nodes is formed. Each node is assigned a random number. Based on these numbers, the list of nodes is sorted in a descending order. The first node in this list becomes the main network node. The following nodes in the list become trusted nodes: if the total number of nodes is equal to 10, then 50% of them become trusted nodes (but not less than 3).

        • MDiffenbakh
          MDiffenbakh commented
          Editing a comment
          There is no definition like masternode on CREDITS platform.

          You don't need coins to run a node. Credits project have several types of nodes: trusted, main and common. You don’t need coins to run a node because we use DPOS+BFT consensus protocol.

          The only requirements to run a node - good internet connection, computer where a complete network client is installed and connected to a common system.

          As a material reward, the owner of the main network node will receive remuneration in CREDITS currency from the number of commissions per transactions of this processed ledger. The rest (½) is intended for the trusted nodes, which take part in BFT consensus
      Working...
      X