What is Delegated Proof Of Stake (DPOS)? How does it work? - Cryptocurrencies explained!

➤ Hello everyone, we hope you are having a great day and want to learn something new! Today we have a very exciting video for you. It's about what delegated proof of stake is and how the delegated proof of stake works! If you enjoyed the video please hit the like button and subscribe for more. Also hit the notifications button so you will be notified if we post a new video!

➤ Delegated proof of stake (DPOS) is a consensus mechanism that allows for the validation of blocks on a blockchain by using a more democratic process. Instead of a single node validating every block, DPOS uses a much more decentralized approach.

In a DPOS system, there are many nodes on the network that can validate transactions and create new blocks. This means that there is no need for miners like in bitcoin or etherum where only one miner can create blocks at any given time. With DPOS, anyone can create new blocks so long as they have enough votes from other users in the network.

➤ Why It’s Important
DPOS is becoming increasingly popular because it makes it easier to scale up networks while also increasing the security and decentralization of those networks by making them harder to attack or compromise than other types of consensus mechanisms like POW (Proof-of-Work) or POS (Proof-of-Stake). For example, because there are so many possible validators in DPOS systems, it makes it much

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➤ Timestamps:
00:00 Introduction to consensus mechanisms
01:23 How does delegated proof of stake work?
02:43 Pros and cons of delegated proof of stake
04:34 Who uses delegated proof of stake?
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