28 Sep '15, 6am

Hot Cryptocurrency Trends: Delegated Proof of Stake - Bitcoin Magazine

This is a guest post by Max Wright Disclaimer: Max Wright owns both Bitcoin and BitSharesX. Wright’s critique of the security concerns of DPOS can be found at http://www.SuccessCouncil.com In August of 2014, in front of a small crowd at a regional Bitcoin event in Raleigh, North Carolina, a panel of arguably 6 of the brightest minds in Crypto were asked, “What is the most pressing issue facing Bitcoin today?” The unanimous answer: A more efficient consensus algorithm. For those of you who do not know, Bitcoin is secured by a consensus of “who owns what” by what is called a Proof of Work consensus algorithm. Satoshi understood that decentralization is the key to a disruptive technology in the field of payments and currency. By creating a system that used many individuals, but relied on none, the system would be sufficiently decentralized so that it could never be thwarted, ...

Full article: https://bitcoinmagazine.com/articles/hot-cryptocurrency-t...

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