The Currency Analytics
By Ayobami Abiola
The Proof of Stake (PoS) Consensus algorithm was designed to mitigate the huge energy consumption problem in proof of work consensus like that of Bitcoin.
Proof of work has innovative versions like Delegated Proof of Stake (DPoS) by Dan Larimer the developer of Steem, Bitshares, and EOS.
There has been some misconception of what DPoS really is with Cardano's new innovative consensus- Ouroboros.
In Ouroboros, nodes are pooled into staking pools because a single node might not have what it takes (expertise) to create new blocks.
The consensus also prevents takeovers by selecting the “densest” chain or one which has the most participants and transactions while DPoS selects the longest chain.
Every popular crypto project today is unique in its own way and different from another, instead of divisions, why not let us all move forward as a family under one umbrella-…