Liquid Proof of Stake
Fleeting- Référence externe : https://opentezos.com/tezos-basics/liquid-proof-of-stake/
- Référence externe : https://opentezos.com/tezos-basics/liquid-proof-of-stake
liquid proof of stake
Kind of a delegated proof of stake with baker
main objective of a consensus mechanism is maintaining a common history throughout the whole peer-to-peer networ
PoS requires participants to prove that they are willing to guarantee the integrity of the blockchain by sequestering a certain amount of coins
In Proof-of-Stake, validators replace miners
validator gathers transactions and creates blocks
PoW allows for chain selection, maintains regular blocks’ issuance, regulates coins’ creation, and selects the miner receiving rewards.
energy connects to the physical world and supports the Mutual-Assured-Destruction (MAD) property (
Fisher, Lynch, and Patterson’s Impossibility shows that, with no guaranteed bounds on network latency, it is impossible to reach consensus even with a single faulty node. This absence of limits for latency is characteristic of an asynchronous setting
5 most known problems[1][2] we encounter if we try to construct a Proof-of-Stake algorithm:Rich get richerNothing at StakeStake grindingHot wallet attackLong range attack
idea of DPoS is to add a new option to make PoS more inclusive
DPoS, users act as if they were in a parliamentary democracy. Users delegate or “vote” for validators also called “witnesses” among a set.
LPoS, a validator is called a “baker” or an “endorser”. As opposed to DPoS, any user can become a validator if he has enough coins. If he doesn’t, then he has the choice to delegate. The idea is to dilute even more the activity and to increase inclusion
The two roles of delegates are simple:Bakers: create blocksEndorsers: agree on blocks
validator needs 8,000ꜩ (one “roll”) to take part in the consensus (soon to be lowered to 2,000ꜩ [11])
roll represents 8,000ꜩ delegated to a given private key
more rolls someone has, the higher the chance to bake the next block
One cycle corresponds to 4096 blocks (≈ 2.8 days).
7 cycles to accumulate rewards. It then takes another 5 cycles before the delegation service receives them and can transfer those rewards
each cycle, a random seed is created. A pseudo-random number generator uses the seed to generate the priority list based on a snapshot of existing rolls 2 cycles ago.
generated list of priorities identifies who bakes a block and who endorses it. It is a round-robin process that cycles on the list of priorities until the end of the cycle (4096 blocks).