Delegated proof-of-stake is a consensus algorithmA consensus algorithm is a computer-generated process to achieve agreement on a single data value amongst disparate parties. It is... Read More where tokenTokens are created and distributed on a blockchain and can represent a variety of assets or utilities, including commodities, loyalty... Read More holders can voteA vote on a blockchain is an encrypted submission of preferences stored as a record resistant to change on the... Read More for delegates to validate transactions and produce blocks on a blockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions.... Read More. BlockA block is a specific type of construct in a blockchain that stores transactional information blocks typically contain transaction information... Read More producers are usually selected based on stake weight (those with more tokens have more say in who creates blocks). The delegates holding the most votes have the most power. They tend to produce the most and receive the most rewards. Some protocols may have a built-in mechanism to balance block production and rewardA reward is an incentive given to a miner who successfully hashes a transaction block. The reward for completing a... Read More so that all delegates have an equal opportunity. Delegated proof-of-stake is an alternative to proof-of-work blockchain because it uses less energy and is more efficient with a tradeoff for some degree of centralization.
