Delegated proof of stake (DPoS)?

What is Delegated proof of stake (DPoS)

Delegated Proof of Stake (DPoS) is a blockchain consensus mechanism enables the network's coin holders to participate in voting and earning incentive rewards from the Signers' nodes. Then, these elected signers will vote for proposals for the entire network's related parameters and developments.

The mechanism of DPoS is similar to Proof of Stake in the sense that both require users to stake coins in order to take part in the blockchain consensus protocol. However, the stark difference between them is, in a Proof of Stake, all coin holders are able to participate in the validation and decision-making through direct staking. While in Delegated Proof of Stake, only the elected signers are qualified to participate in validation on DPoS networks. Further to the difference between DPoS and PoS, in DPoS consensus, community members have more governance rights in the network.

There are key characteristics:

• In DPoS, it is to make the governance of the network more efficient by having a small group of people running it from the community.

• The community votes to elect a group of candidates to run the network – these people are called Signers in Solis Network.

• DPoS provides community governance over who represents their interests in the network.

• Community voting strength is determined by the amount of coin they staked; the users staked with more coins have a stronger vote than those with fewer coin staked.

• DPoS enables the community to vote out any candidates who are not in favour of the network ecosystem by increasing the amount of staking for candidate election.

• DPoS will reward the validators for their commitment of participation from block rewards.