POS --- Proof of Stake
Most places are called Proof of Stake. In fact, it can be regarded as Proof of Stake, and it is also a consensus algorithm. In the digital currency based on Proof of Stake, the selection of the next block is randomly selected according to the shares and time of different nodes. For example, if you buy 10,000 digital currencies and put them in the POS mechanism, you will have the opportunity to get new blocks and get rewards. How big is the chance, that is, those who have 1,000 coins 10 times the probability of people with digital currency, because you have 10,000, 10,000 is ten times as much as 1,000, 10% of the stock dividend is 10 times as much as 1% of the stock, the reason is the same.
Since the creation of new blocks does not consume a lot of CPU, this also gives many opportunities for nodes to cheat, and each node will mine on multiple chains at the same time in order to maximize profits. Obviously, this problem needs to be solved. A penalty mechanism is introduced here to punish nodes that vote on multiple chains at the same time. The second method is to directly punish nodes that create blocks on the wrong chain.
Advantages: No need to waste computing power, and at the same time, the cost of a 51% attack is higher, because to do a 51% attack, you have to own 51% of the currency. That is, the more valuable the thing, the more expensive it is to attack.
DPOS --- Delegated Proof of Stake
The proof-of-stake algorithm described above can understand the entire blockchain network as a company, and the person with the largest proportion has more opportunities to obtain blocks; for small shareholders, the possibility of generating blocks is very small, only Get dividends and income from shares.
However, the DPOS entrusted proof of equity introduced here allows everyone to select people who can represent their own interests to participate in the competition for blocks, so that multiple small shareholders can vote for their own agents and fight for their own Benefit.
In Delegated Proof of Stake, each participant can elect any number of nodes to generate the next block. The top M nodes with the most votes will be selected as the creators of the block, and the creator of the next block will start from Such a group of elected candidates is randomly selected. In addition, the number of M is also determined by the voting of the entire network, so the decentralization of the network can be ensured as much as possible, and the most important thing is to choose randomly, that is to say The number M is uncertain, and which one of M is selected is also uncertain, plus a sufficient total amount, it can be determined that it is almost uncontrollable.
Summarize:
It is introduced that POS (Proof of Stake) is an opportunity to obtain new blocks by holding shares. The advantage is that it does not need to consume computing resources, but the benefits obtained by small shareholders are limited.
DPOS (Delegated Proof of Stake) allows everyone to elect someone who represents their own interests. Multiple minority shareholders gather together to increase the chance of obtaining blocks, and by obtaining a random part of the total votes, the One is randomly selected to generate a block, which ensures immutability to a greater extent.