Delegated-Proof-Of-Stake, DPOS
is a consensus mechanism which is an alternative as it combines the positive sides of Proof-Of-Stake and Proof-Of-Work where validators are selected according to their stakeweight or miners struggles to validate a block . But in DPOS, there is a "delegates" Or "Witnesses" That validates the transaction and creation of blocks of data. Witnesses did not elect themselves or selected but are voted by every token holder. That's purely decentralization which ensures that their oversight role enriches and secures the ecosystem.
The consensus mechanism for Hive is DPOS which is the prominent network that uses the DPOS algorithm which resulted to the purely decentralized social blogging site based on blockchain . Its platform is unique because it resists censorship and promotes engagement as well as content creation and sharing.
The main principle behind DPOS is that the validators are elected or delegated via a democratic manner. So apart from Hive, there are notable networks whose consensus mechanism is DPOS and its variants includes
1. STEEM another social media based on blockchain. Actually, Hive is a hard fork from Steem. A conflict about its decentralization, decision making and control leads to that emergence of Hive which is very clearly different from Steem as it still lacks decentralized tandency and supports censorship as one entity controls decision-making and distribution of rewards.
2. TRON: This Network provides decentralized platform for entertainment industry. Its termed CHINESE BITCOIN due to its popular in Asia. It employ DPOS as its mechanism to reach consensually. In Tron, their delegates are called "Super Representatives" to validates and block creation. They are elected as one being voted by several nodes or Tron Holders.
3. EOSIO: It is a network built to utilize the ability of DPOS algorithm for high transaction and scalability for several smart contracts or decentralized application (dApps) designed on the chain.
Token holders can vote for elected few nodes to produce blocks and validates the transaction within the network and sustain it too.
4. LISK: This is a blockchain network built with Javascript which use a variant of DPOS called Delegated Proof of Stake Plus(DPOS+) where delegates are voted by token holders to forge blocks, validates and secure the network in a decentralized and scalable manner.
5. ARK: Ark is a blockchain platform that employ DPOS as its consensus mechanism resulting its scalable, secure and decentralized nature. It favours several smart contracts or dApps to be built on it via smartBridge technology.
Token holder votes for delegators whose roles protects the network and support it's consensually.
HOW DPOS PROMOTES SCALABILITY
DPOS have great potential of promoting of scalability due its high transaction speed and network throughput. It sacrifices a lot of decentralized layers when compared with other consensus to promotes its scalability and processing speed. There are Three main features of DPOS that enable this mechanism to have high processing time. They includes:
1. BLOCK PRODUCTION: Few or Fixed trusted and elected nodes called delegate, witnesses and Representative to validates transactions and create new blocks which is the main difference existed between DPOS and other consensus mechanism like POW of bitcoin where miner struggles to creates blocks
By limiting the number of delegates, DPOS and its variants are reasons of faster block confirmation rates. For instance, In Hive, the number of witnesses are predetermined and fixed. They are 21 witnesses with allocated time factor for the validation of the transaction and creation of blocks by the selected delegate as they take turn in validation and creation of block On the ecosystem.
Witnesses are elected on trust by the token holder that they will validates transaction on the ecosystem dutifully. The token holder's governance role like voting of delegates depend solely on their stakeweight.
2). VOTING AND GOVERNANCE: DPOS favours the participation of token holders to engage in decision making, governance policy, and reward allocation. With the involvement of token holder in decision making, there are more achievement of DPOS in the term of high scalability and processing speed.
3) FORK RESOLUTION: Whenever Conflicts arises on the ecosystem, Delegates will resolve the matter very fast to avoid the network not to be forked as it will slow down its operations. This resolution are reached as the delegates being few can decides centralized manner to solve the matter. This approach have raised eyebrow as there is uncertainity over the supposed decentralized nature of the nature.
CONCLUSION
DPos based blockchain networks are decentralized platform where every token holders participate in governance and voting of the delegates whose roles are important as its promote scalability prowess within a secured network. It implement the positive side of POS as stakeweight is important to be token holders and delegates. How huge, stake of the token holder is, that is how huge, its voting power will be. The delegates are fixed and effective in discharging their duties. But, if any witnesses whose role does merit the trust of the recorded votes will not be elected again but replaced with others with higher vote and their activities will be appreciated more.