Best DPoS Coins.
Best Delegated Proof of Stake Coins (DPoS Coins) –
DPoS is the same as PoS, except people vote for who can validate transactions. In DPoS, users have the power to give their voting power to others if they choose so.
Delegate proof of stake is what is known as a consensus mechanism. Consensus mechanisms are ways that transactions are added to the blockchain. So when we have blockchains, we have a series of blocks and blocks are just units of storage for cryptocurrency transactions.
For example, if you send a bitcoin to a friend, and a bunch of other people send Bitcoins to their friends, these are all transactions. All these transactions become a “block” and certain people are responsible for adding these blocks to the blockchain. The people who are responsible for writing these blocks to the blockchain are known as nodes. Nodes are people who own computers with software that connect to the blockchain network.
What determines who handles these transactions to blockchain? That’s where the consensus mechanisms come in.
Delegate proof of stake is all based on how many people voted for you to do so. So with delegated proof of stake, we have a bunch of people who vote for the node that’s allowed to add blocks to the blockchain.
The node who wins is known as the “witness”. Witnesses can validate the transactions faster.
The winner is the witness, then the block gets added to the blockchain.
Users can also vote for what is known as “delegates”.
Delegates are people who can affect the rules of the blockchain network directly.
So let’s say users vote for a particular delegate. The delegate person who was voted in is able to change the rules of the blockchain. For example, change how many transactions on the block.
So with all of this, delegated proof of stake is aiming to solve some of the issues with how blockchains disperse the power, and how decentralized they are.
Here is a visualization from the Ark team:
With that, let’s take a look at some of the best DPOS projects. Keep in mind that many of these are the faster blockchain projects.
Lisk – Best Delegated Proof of Stake Coins (Best DPoS Cryptocurrencies)
Ark – Best Delegated Proof of Stake Coins (Best DPoS Cryptocurrencies)
Ark is a project that is building an ecosystem to help businesses and users easily create their own blockchains.
RISE – Best Delegated Proof of Stake Coins (Best DPoS Cryptocurrencies)
Similar to Ethereum, RISE is a platform that allows people to create their own blockchain applications.
OXYCOIN – Best Delegated Proof of Stake Coins (Best DPoS Cryptocurrencies)
NANO – Best Delegated Proof of Stake Coins (Best DPoS Cryptocurrencies)
BONUS NEO [NOT QUITE DPOS]
(Formerly called AntShares), is widely known as “Asia’s Ethereum”.
NEO uses Delegated Benentine fault tolerance (DBFT) which is sometimes confused for DPOS.
EOS [NOT QUITE DPOS] – Best Delegated Proof of Stake Coins (Best DPoS Cryptocurrencies)
EOS uses a delegated proof of stake Benentine fault Tolerance (DPOS-BFT) which is similar but has some differences in the ability to have hard forks and choose nodes. DBFT and DPOS-BFT are different from DPOS.
EOS stays that in order for blockchain solutions to overtake businesses that
use centralized technology, blockchains need to support millions of users, be free, have great speed and have easy upgrades.
Source: Free startup kit website.
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