What is EOS?

DPoS (Delegated Proof-of-Stake) is a consensus algorithm first developed by Dan Larimer in 2013 for his BitShares project. This protocol is also called the form of “digital democracy”.

The difference between DPoS and PoS is in the division of network participants into block producers and voters. In other words, not all EOS coin holders can be directly involved in the creation of blocks. In order to become a validator, a network member must fulfill two conditions:

• Have sufficient technical capacity to maintain the smooth operation of the node 24/7.
• Maintain an impeccable reputation and spend resources on forming a community and obtaining the necessary votes of users.

If in PoS the chance to become a validator of a block depends on the number of coins blocked in the wallet, then in DPoS this role is performed by votes cast for the producer block by network participants.

Unlike PoS, coins used in voting are not blocked in the wallet, but can be freely used. This will reduce the weight of the voter in the next vote. Another difference is the absence of a mandatory minimum amount of coins for voting.

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