Glossary - ChicksX

Delegated Proof of Stake (DPoS) is a consensus mechanism where stakeholders elect delegates to validate transactions and secure the network.

Delegated Proof of Stake (DPoS) is a consensus mechanism used in blockchain networks. It allows stakeholders to vote for delegates who validate transactions and maintain the network. Each token holder can delegate their voting power to trusted delegates. These delegates are responsible for creating new blocks and verifying transactions. DPoS aims to improve efficiency and speed compared to traditional Proof of Stake. It reduces the number of validators needed for consensus. This system encourages community involvement and ensures that validators are accountable to stakeholders. DPoS networks are typically more scalable and energy-efficient.