Let’s think of a democracy: a nation where the most powerful elected official can be removed office if the nation’s people decide that the official is not acting in the interests of the common man. Delegated proof of stake acts on a similar level. Consider the people in power in your life: bosses, judges, police chiefs, etc. What if, through the power of democracy, you were able to remove anyone from controlling aspects of your life?
DPOS allows users to effectively “remove” delegates that control the blockchain. This means that the users who are disenchanted with the way that a blockchain is run can remove the people in power. DPOS brings democracy to blockchain, effectively circumventing issues facing proof of work (POW) systems where the richest users with the strongest mining operations control network validation.
Let’s go back to the history of DPOS and its biggest innovations, along with how NASGO uses DPOS.
Eons ago (2014) Daniel Larimer of EOS fame theorized that bitcoin mining would eventually become centralized due to mining pools. Along with fighting centralization, Larimer wanted to figure out a way to scale Bitcoin’s transactions. Thus, he came up with DPOS to combat Bitcoin’s energy-inefficiency, slow transaction speed, and centralization.
Members of a particular DPOS coin will vote for delegates who secure the blockchain network by validating transactions. The top delegates earn block rewards as long as they show that they are continuously acting in the interest of the overall network community. If they are not, users can effectively vote out these members, effectively “firing” the delegates.
DPOS allows the NASGO blockchain to bring decentralization to the masses by allowing anyone to vote on delegates. In addition, voting is always happening in a DPOS environment. As the network grows, more and more competition for delegates will pop up and delegates will need to show that they are always acting in the community’s interest to stay in power.
