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Topic: Trying to understand proof of stake technically (Read 121 times)

member
Activity: 142
Merit: 13
January 19, 2018, 05:11:51 AM
#3
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The amount of work in the PoS/PoW combination required is so tiny compared to the amount of work required for proof of work. That means that even a mobile device could complete it fast whereas for Bitcoin you need some expensive ASIC equipment.

Also, some algorithms (of the PoS/PoW combining ones) work so that there is no voting on who gets to do the block.. instead they all race to create it but the ones with a higher stake have lower difficulty and are thus more likely to create a block.

Thank you, I understand better now.

member
Activity: 142
Merit: 13
Quote
You are understanding it correctly. What one does to create a block depends on the Proof of Stake algorithm used.
 Block creation time can be controlled the same way as in Bitcoin. Through difficulty adjustment etc.

For code examples you can look at the source code of Proof of Stake coins at their github. A simple google search will give you a list.

So, the chosen "miner" have to perform proof of work also?

What if a node doesn't find a solution to PoW? or if he delays a lot more than the estimated block creation time?

Then what is so revolutionary at PoS coins if they depend on Proof of Work? it doesn't make any sense for me.
member
Activity: 142
Merit: 13
Hello, im a dev and i dont understand how I could implement a basic PoS system.

What I understood so far:

- The more stake, the more probabilities to "mine" a block
- Each node votes on other nodes to choose the node that can "mine" the block
- So what does really do the one that will mine the block? i've seen that hey have to do proof of work, and the difficulty is based on their the stake, the more stake the easier it is? But then this is hybrid, proof of stake and proof of work?

- How to control block creation time in this system?

Is there some technical guide or code example? Could anyone explain me better?

Thanks!
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