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What is Proof of Stake

Chapter 4
Political and Economic Implications of Blockchain Technology in Business and Healthcare
A type of consensus mechanism used by blockchain networks to achieve distributed consensus. It requires users to stake their tokens to become a validator in the network.
Published in Chapter:
Blockchanging Politics: Opening a Trustworthy but Hazardous Reforming Era
Dario de Oliveira Rodrigues (Instituto Politécnico de Santarém, Portugal) and Pedro Santana Lopes (GlobalLawyers, Portugal)
Copyright: © 2021 |Pages: 42
DOI: 10.4018/978-1-7998-7363-1.ch004
Abstract
There has been a fundamental change in the genesis of political-economic trust, with the arrival of a decentralized but structured way to reach consensuses and automatically implementing decisions through self-executable contracts. Blockchain technology (BT) is a distributed, consensus-based, and secure way for individuals to make enforceable censorship-resistant quantifiable agreements. Every vote is a transaction, and BT is paving the way for decentralizing politics, defending privacy, and streamlining voting procedures. It has the potential to provide much more granular governance that hopefully will preserve freedom and defend democracy. However, especially in an embarrassing post-COVID-19 world, BT's centralization can, instead, pave the way for citizens' control, turning cryptographic protocols into an authoritarian digital corset tightened by some to menace the privacy and freedom of many.
Full Text Chapter Download: US $37.50 Add to Cart
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Chapter 14
Use of Smart Contracts and Distributed Ledger for Automation
In Proof of stake, the creator or the miner of the block is chosen from a pool of miners that hold a particular stake in the network. There is no reward for adding a block in the Blockchain. However, the miner gets the transaction fees.
Published in Chapter: Use of Smart Contracts and Distributed Ledger for Automation; From: Opportunities and Challenges for Blockchain Technology in Autonomous Vehicles
Full Text Chapter Download: US $37.50 Add to Cart
Chapter 10
The Critical Role of Blockchain Oracles in Web 3
In Proof of Stake (PoS) protocols, the creator of the next block is chosen in a pseudorandom way, depending on how many coins they hold. This favors those with more existing wealth holding stakes in the currency. The validation process is faster with less resource intensive than Proof of Work.
Published in Chapter: The Critical Role of Blockchain Oracles in Web 3; From: Decentralizing the Online Experience With Web3 Technologies
Full Text Chapter Download: US $37.50 Add to Cart
Chapter 8
Blockchain as an Enabler for Zero-Trust Architectures
A consensus model used to prove that each entity has adequate digital capital in the form of Ether tokens as proof of value.
Published in Chapter: Blockchain as an Enabler for Zero-Trust Architectures; From: Real-Time and Retrospective Analyses of Cyber Security
Full Text Chapter Download: US $37.50 Add to Cart
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