Are you new to the cryptocurrency world and feeling a bit lost? Don't worry, you are not alone. The cryptocurrency space can be daunting for newcomers, with its many terms, abbreviations and definitions that can be difficult to understand.
ATAIX crypto glossary will help make sense of some of the most common cryptocurrency terms and definitions. Armed with this information, you'll be ready to start participating in this exciting and innovative new economy!
Delegated proof-of-stake (dPOS) is a consensus algorithm that achieves consensus through the delegation of voting power to elected representatives, known as delegates. Delegates are chosen by stakeholder vote and are responsible for validating transactions and maintaining the blockchain.
dPOS was first proposed in 2014 by Daniel Larimer, the creator of BitShares and Steemit, as a way to address some of the perceived problems with traditional proof-of-work (PoW) and proof-of-stake (PoS) consensus algorithms.
dPOS has since been implemented by several cryptocurrencies, including EOS, Stellar, TRON, and Lisk. In general, DPOS coins have been well-received by the cryptocurrency community and are often praised for their high transaction speeds and low costs.
However, dPOS is not without its critics. Some have raised concerns that the delegated nature of the algorithm could lead to centralization, as a small number of delegates would have control over the network. Others have also criticized DPOS coins for being too heavily controlled by their developers.