An Introduction to Proof-of-Stake and the Future of Consensus — a Talk by Orbs’ Head of Research

David Yakira
Jun 17, 2018 · 5 min read
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Image by Marina Rudinsky
David’s session at the Blockchain Academy on the next generation of PoS.
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David Yakira speaks at Blockchain Academy (Photo by Gedalyah Reback)
  1. Chain selection rule — enables all participants to agree on a single version of history. This works because an elected leader can notify the network of his election in negligible time. The following leader, by hash chaining, could confirm the previous leader. Fundamentally, this allows communication in Bitcoin to be modelled as synchronous.
  2. A way to distribute new coins so as to incentivize the chain selection rule to converge into a single, agreed-upon, ever-growing history. The distribution of coins is also what drives miners to join the game in the first place.
  3. And finally, a safe (and objective) way for joining nodes to get up-to-date with the “true” history.
  • Increasing the Ethereum network resilience, and
  • Enabling scaling and sharding solutions.

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