Cryptocurrencies that are using Delegated Proof-Of-Stake Algorithm | DPOS Coins
I am sure that any crypto enthusiast must have heard about Proof-of-Work (PoW) or Proof-of-Stake (PoS), but do you know about dPOS? Like PoW and PoS, Delegated Proof-of-Stake dPoS is also a consensus protocol which is similar to PoS but more in a democratic way. Major cryptocurrencies like Bitcoin, Ethereum are using Proof-Of-Work (PoW) as it’s consensus protocol. DASH, NEO are using Proof-of-Stake as it consensus protocol. Similarly, Cardano (ADA), EOS are using dPOS as the consensus protocol. In this article, I have listed out some dPoS coins or cryptocurrencies that are using dPoS in their blockchain.
Before jumping to the list of dPoS coins or dPoS blockchain, let me give a quick introduction to What is dPoS to those who still don’t know about it.
What is Delegated Proof-of-Stake (dPos)?
Delegated Proof of Stake is the brainchild of Dan Larimer, the creator of Bitshares. Bitshares was established in 2014 and has a fairly active community.
Delegated Proof Of Stake (DPoS) is an advancement to current PoS protocol. In the original Proof-of-Stake consensus mechanism, a crypto user can stake his/her cryptocoins to the respective blockchain network, thereby earning the right to verify transactions, forge blocks, and earn associated rewards.
DPoS is an advancement to PoS by having all the features of PoS along with some additional features. DPoS is like a digital democracy which leverages the power of stakeholder to resolve any consensus issued by voting in a fair and democratic way.
To read more details about dPoS, I recommend you to read this article:- What is Delegated Proof-of-Stake dPoS?
List of dPoS Coins | dPoS Blockchain
Following are the cryptocurrencies that have employed dPoS in their blockchain as the consensus protocol:-
- EOS – 21 Block Producers
- Lisk – 101 Block Producers
- Cardano (ADA)
- Bitshares (BTS) – 101 Block Producers
- Steemit (STEEM) – 51 Block Producers
- ARK (ARK) – 51 Block Producers
- Tezos (XTZ)
- Oxycoin (OXY) – 51 Block Prdocers
As more and dPoS blockchain projects are introduced, I will keep adding them in the above dPoS coins list. Stay connected and join our Telegram Channel to stay updated.
If I have missed any dPoS coin, let me know in the comments section below, and I will add it in the above list.