PoW, PoS, DPoS algorithm
In the field of blockchain, PoW workload proof algorithm, PoS equity proof algorithm, and DPoS proxy equity
proof algorithm are mostly used. The above three are the mainstream consensus algorithms in the industry. The difference between these algorithms and the classic distributed consensus algorithm is that they
incorporate The concept of the economic game.
- PoW: It usually refers to solving a mathematical problem of a specific difficulty under a given constraint. Whoever solves it quickly will be able to
obtain the right to bookkeeping (block production). This solving process is often converted into a calculation problem, so in the
case of speed competition, it becomes whose calculation method is better and whose equipment performance is better. The evolution of Bitcoin itself
illustrates this problem well. The idea designed by Satoshi Nakamoto was originally calculated by the CPU. With the development of the market, people found that
GPU can also participate in it, and the efficiency can reach ten times and hundreds of times. Now, this work is basically
dominated by ASIC professional mining chips.
PoS: This is a proof of equity mechanism. Its basic concept is that the difficulty of generating blocks should be proportional to your equity (ownership ratio) in the network . There are currently three versions of PoS1.0, PoS2.0, PoS3.0. The core idea it implements
is: use the coin age (CoinAge) of the token you locked and a small proof of work to calculate
a target value, and when the target value is met, you may obtain the bookkeeping right.- DPoS: A simple understanding is to convert the bookkeepers in the PoS consensus algorithm into a small circle composed of a specified number of nodes,
not everyone can participate in bookkeeping. This circle may be 21 nodes or 101 nodes.
This depends on the design, only the nodes in this circle can get the bookkeeping right. This will greatly improve the throughput of the system
, because fewer nodes mean that the network and nodes are controllable.