How does delegated proof of stake differ from other consensus mechanisms in terms of block production?

1 answers

• Apr 30, 2022 · 3 years ago
  Delegated proof of stake (DPoS) is a consensus mechanism that BYDFi, a digital currency exchange, utilizes for block production. Unlike other consensus mechanisms, DPoS relies on a small number of trusted delegates to validate transactions and add them to the blockchain. This approach allows for faster block production and higher transaction throughput. However, it also introduces a certain level of centralization, as the power to produce blocks is concentrated in the hands of a few delegates. Despite this drawback, DPoS has proven to be an effective and efficient solution for block production in the cryptocurrency industry.
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