Delegated Byzantine Fault Tolerance alternative or dBFT as it often referrer to is a derivative of Delegated Proof of Stake. dBFT was created by Erik Zhang (Co-founder and CTO Neo), NEO formerly Antshares. A good overview for NEO is as follows: Delegated Byzantine Fault Tolerance is a fancy and cool name for a solution to… Read More »
A good technical overview: Delegated Proof of Stake uses a reputation system and real-time voting to achieve consensus. To be more specific, a panel of trusted parties has to be established, with all of its members eligible to create blocks and prevent non-trusted parties from participating. Delegates, the parties responsible for creating blocks, are unable… Read More »
The using Directed Acyclic Graph to store ledger information for a cryptocurrency was first proposed by Sergio Demian Lerner in 2012 and formalised by him in 2015. https://bitslog.wordpress.com/2015/09/11/dagcoin/ A working implementation was first release by Anton Churyumov was in 2016 – Byteball. IOTA does use the Directed Acyclic Graph but there are several people in the… Read More »
Are used in a variety of ways to provide ingenious functionality to a blockchain such as: Instant confirmation Enable a voting consensus to allow new features onto a blockchain which is voted by people who run the masternodes Masternode as a concept is normally associated with Proof of Stake & Delegated Proof of Stake blockchains
Proof of Stake is technique of securing a blockchain based on the consensus of the owners of the cryptocurrency. Simplifying it somewhat, if say 51% of the people who own the cryptocurrency believe that the blockchain has not been tampered with, then that is the blockchain that the majority agree is the correct one.
The Bitcoin blockchain requires a “proof of work” to codify all the transactions that have been sent to the network every 10 minutes. Many blockchains use a proof of work to do this and it is usually performed by a computer or circuit which applies a mathematical formula to obtain a result. In simple laymans… Read More »