Edited with flyer maker
Hello, my dear Steemians. How are you doing? I hope you are fine and doing well with your loved ones. Today is another great day in our lives in which God has made it possible for us to witness a great day like this. Today in this post, I talked about the consensus protocol used in Steem, and others. Let's get started.
Discuss the consensus protocol used in Steem, Proof of Delegated Participation. What are the differences between DPoS and PoW? |
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The consensus protocol that is used in Steem is the Delegated Proof of Stake consensus algorithm, where users are allowed to vote for witnesses that would secure the Steem blockchain. In regards to that, 21 witnesses are needed for the securement of the Steem blockchain. These 21 witnesses are in charge of block prediction.
The top 20 witnesses with the most votes, i.e. the highest votes, and one witness that is time shared among each witness that didn't make it to the top 20 witnesses will create and sign blocks on Steem.
Every Steemian can vote for up to 30 witnesses, and through their vote weight by the stake of users, that is when the witnesses can be ranked. The ranking is what determines the number of witnesses that can add a new block on the Steem blockchain.
For the top 20 witnesses, they would be working as full-time block miners, where they would be creating blocks every 63 seconds. For that, the 21 witnesses are rewarded with STEEM power for each of the blocks they produce. The rewards are split between authors who have created posts, those that have voted and witnesses. 10% of the Steem coin is distributed among the witnesses that are in charge of securing the Steem blockchain.
The differences between DPoS and PoW? |
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Let's take a look at the two differences below:
DPoS (Delegated Proof-of-Staeke)
DpoS is an advanced mechanism of PoS that makes use of a reputation system and real voting for a consensus to be achieved. In the DPoS community, members are allowed to vote for representatives, i.e., super representatives, to secure their network, for which they will be compensated by validating transactions for the next block to be produced.
Although the main difference between Delegated Proof of Stake and that of Proof of Work is that in Delegated Proof of Stake, community members and consensus systems have more governance power in the network than others.
Proof of Work (PoW)
In PoW, it is computers (miners) that work to solve some mathematical problems, i.e., cryptographic puzzles constantly. It requires a high amount of energy to solve some cryptographic puzzles, and it is very secure.
Proof of Work (PoW) is seen as the mother of all consensus protocols since it is a machine that validates and records transactions on a blockchain network through the use of computer nodes to generate cryptographic hashes that satisfy what the network needs.
After miners have finished solving mathematical problems, that is when their would then be rewarded for solving such a complex problems that would take difficult time to solve with brain.
How often does a block occur in Steem and how many tokens does it use? Discuss this topic. |
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Friends in Steem Blocks occur every 63-sec where witnesses are scheduled to create a new block every three (3) seconds on the Steem blockchain. In Steem, every 63 second round results in 21 blocks from the 21 witness nodes.
Just as I have earlier said, the top 20 witnesses would be working as full-time block miners, meaning they would be creating blocks every 63 seconds. For that, the 21 witnesses are rewarded with STEEM power for each of the blocks they produce.
The rewards are split between authors who have created posts, those that have voted and witnesses. 10% of the Steem coin is distributed among the witnesses that are in charge of securing the Steem blockchain.
If there is any witness that does not produce a block when it is his or her time to produce a block, then that person's time will be skipped and the next witness will take over the block production.
In the Steem blockchain, witnesses are paid according to their ranking, excluding the top 19 witnesses that get 1 block every 63 seconds. Those at the rank of 30 or above produce as many as 4 blocks every hour compared to those that are ranked 50 or above, which produce fewer blocks.
Do you know what was the first application to run on the Steem Blockchain? Discuss this application. |
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Yes, I know what the first application to run on the Steem Blockchain was. Steemit was the first application to run on Steem, which is occasionally mistaken for the Steem blockchain.
Users can get paid in Steem cryptocurrency for curating and creating content. Steemit is the oldest blockchain-based social media network, having been established in 2016. Although popular among English speakers, Steemit is utilized all across the world and offers information in other languages as well. The majority of Steemit users create Korean content, meaning Koreans are the majority of users on the Steemit application.
After a relationship between TRON and Steem led to Justin Sun, CEO of TRON, possessing a majority interest in the network's tokens, he carried out what is frequently referred to as a hostile takeover of the Steem blockchain in March of 2020. Justin Sun subsequently stopped a network soft fork initiated by users. Due to this, numerous developers and stakeholders abandoned the project, and some of them made a shift, which led to the creation of Hive.
Finally, to this, the platform on which this post is posted is the Steemit platform, which is the first ever application to run on the Steem blockchain. Although, besides Steemit, there are other applications that have been run on the Steem blockchain. D.tube, Dlive, TravelFeed, 3Speak, and Dlike are some of these applications.
What is Proof of Brain (PoB)? |
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Here I will be explaining the word proof of brain (PoB) based on how things are being done on Steemit. To that, I can say that the way in which author and curation rewards are distributed on the Steem blockchain is what is known as "Proof-of-Brain." This means that on the Steemit platform, it is based on "proof of brain," meaning that authors are paid according to the value of their work, which serves as the author's "proof of brain" (PoB).
In a nutshell, Proof of Brain is a means by which authors earn rewards through the use of their brain in publishing original content that is 100% free from plagiarism. In regards to this, when it comes to Proof-of-Brain, the value of the content is decided by the community.
After participating in the engagement challenge, I am also inviting @preye2, @chant and @sailawana to also take part.
Consensus Protocols are actually the sets of rules and regulations that are essential for the maintenance of the security of the blockchain. Your explanation about the Delegated Proof of Stake are very good. It is a new algorithm as compared to the PoW and it is more scalable than PoW as well.
Yes, there are actually 21 witnesses in the Steem Blockchain at a time and one of them is the backup witness. The selection of these witnesses is on the basis of the vote from the stakeholders. The more the SP of a user, the more will be the worth of his vote for a witness.
Thanks a lot for sharing your Quality post with us and wishing you a very happy contest ahead. 🤗
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Those witnesses are actually our representative on Steem Blockchain. Thank you for stopping by.
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You've got a free upvote from witness fuli.
Peace & Love!
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Miners on PoW solve complex equations before they can add new blocks which needs that they set up expensive and excessive energy consuming machines whose emission is said not to be eco-friendly.
DPoS does not require much like PoW and that is why it is more scalable, an example in on Steem where the network can process up to 10,000 transactions per seconds.
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Waooh you really know much about DpoS, PoW and Steem consensus dear. Thank you for stopping by.
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Hello friend,
Since the creation of Steem blockchain there have been a lot of new applications built on steem Blockchain but steemit remains the first, also steemit is also the first decentralized social media platform that support creation by creative author on Steem Blockchain.
Thank you very much for sharing, please you can check my own entry here
wishing you success
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