HomeНаука и техникаRelated VideosMore From: Amanda B. Johnson

DPoS: The Sleeper Consensus Algorithm?

212 ratings | 9899 views
Delegated-proof-of-stake is markedly different from Proof-of-Work and Proof-of-Stake in that it's permissioned by stakeholders -- meaning 'decentralization' can be cryptographically enforced. Bitshares developer Fabian Schuh explains what this means in terms of security. Check out our new channel! http://youtube.com/dashorg Connect with us! [website] http://TheDailyDecrypt.com [tweets] http://twitter.com/TheDailyDecrypt [facebook] http://facebook.com/TheDailyDecrypt [RSS feed]: http://TheDailyDecrypt.com/posts/feed [subreddit]: http://reddit.com/r/TheDailyDecrypt Wanna sponsor a show? http://thedailydecrypt.com/Sponsorship Sponsor: Bnk to the Future: https://bnktothefuture.com Bnk to the Future's investment in BitPesa: https://www.youtube.com/watch?v=Vc5DPUBZhEE&list=PLrou7z4TGqLNAoBys6HL5u3tF9wLEcXjf Show links: Delegated Proof-of-Stake, detailed: https://bitshares.org/technology/delegated-proof-of-stake-consensus Lisk crowdsale details: http://www.smithandcrown.com/lisk-raises-6-million-ico-building-dapps-javascript Music: "House of the Rising Sun" by Animals: https://www.youtube.com/watch?v=5A-4VGfx5lU
Html code for embedding videos on your blog
Text Comments (48)
Gaurav Ramrakhyani (1 month ago)
Very Nice Video Amanda. Thank You.
Tiwaking Tiwaking (2 months ago)
Retarded system for retards
Crusader General (4 months ago)
DPoS will fail as long as humans hold democratic elections
Crusader General (4 months ago)
Did I just discover the smartest and cutest female in the crypto world?
Ben Deshaies (6 months ago)
I miss The Daily Decrypt!
Russell K. Bonney (6 months ago)
Only three witnesses with POS and Proof of disassociation are required to verify a block. In reality more 24/7 witnesses are necessary for a valid and consistent verification consensus. That lower limit needs to be discovered to maximize scaleability. Security can be enhanced by purposeful and random injection of faulty data which will of course be rejected by the consensus which will also verify the origin of the data as being "in house" but which any hacker won't be privy to and will be instantly discovered and ejected with wallet lockout. That tiny amount of additional data is insignificant relative to the ether that will be freed up by minimizing the block mining to almost zero. Full node miners can be appointed and paid by voting. Activity failure will result in them being fired. Simple huh? That's ether reduced cryptographically enforced decentralization of the ledger.
Cyrus Talladen (11 months ago)
Still the best explanation of this very complicated consensus method. I love you💓
Victor Nascimento (1 year ago)
Look's like you're 3D modeled.
Hai Nguyen (1 year ago)
how did you got the price banner?
Alex Waugh (1 year ago)
What is stopping someone from creating multiple witness accounts and dividing the computing power they control between them?
Alex Waugh (1 year ago)
Thanks +Jones :)
Jones (1 year ago)
Witnesses are always being monitored - especially by proxy voters - and are voted out very quickly when they do selfish things.
Tuck Fheman (2 years ago)
Good job xeroc!
Harlan Dietrich (2 years ago)
Democracy Coin! = Bitshares. This is the opposite of bitcoin. DPoS requires trust and so does democracy. The democratic process is such a sterling example to build a consensus algorithm around. Its worked out so well.
Veli-Matti Lahnala (2 years ago)
Love your videos. Informative and entertaining.
Michael D (2 years ago)
Don't buy bitshares. You'll get stuck with bags. Simply open up the full chart of BTS since the beginning. It is virtually impossible for it to go to new heights due to the massive layers of bag holders it would have to drill through. Don't fall for it. Stay away from BTS. There are way more better crypto's out there that actually are going up in value due to the tech behind it. A little research goes a long way. BTS is risky as fuck. Don't fall for it, and know this channel's primary purpose is to push people into BTS and out of bitcoin. Trust me, at the end of the day all this biash wants is your Bitcoins.
MrFreeGman (4 months ago)
This comment is pretty comical two years later. 83x growth as of writing this, outperforming BTC by a factor of 6. EOS is the future, and it'll be built off BTS tech.
Lab Beat (2 years ago)
+Michael D Make up your mind; is the tech what's important, or the graph? This decrypt episode has just made quite clear that Bitshares has significant advantages that both Lisk and Ethereum devs find compelling. Best of luck with your BTS short position. I tried that once. Very dangerous trade to do with a coin that has such negligible POS emission. Stick to shorting Litecoin.
Holger Pedersen (2 years ago)
Gridcoin has also another consensus algorithm called, Proof of Research. The reward is based on the work your computer does to help in big distributed calculations
im really taking position in BTS now
Sandwich (1 year ago)
That was a good choice ;)
Autonomous Prime (2 years ago)
Name of intro song?
むく (4 months ago)
Darude - Sandstorm.
Amanda B. Johnson (2 years ago)
+Autonomous Prime Always in the description section. Of every video.
Marc B (2 years ago)
+Autonomous Prime the animals...
John Nistler (2 years ago)
House of the Rising Sun
yep yep (2 years ago)
exactly. "its like watching the most entertaining movie ever, except its real life."
crystaltube (2 years ago)
Specifically, I thoroughly enjoyed this episode. Generally, its clear you belong "in front" of the camera. Am I to assume the manservant should NOT be on camera? Has the manservant EVER been on camera? Does the Daily Decrypt have a written policy on when the manservant is unshackled and what activities he is allowed? Apologies if this is prying...
crystaltube (2 years ago)
+The Daily Decrypt the video you linked to is a scream! Keep em coming...
Amanda B. Johnson (2 years ago)
+videohoskins His hands and even voice appeared in this video: https://www.youtube.com/watch?v=TbM-eKfs5nU, so obviously he was unshackled during that time. It was his birthday, see.
dave [hodl] matherly (2 years ago)
and does anybody know who is pumping Fedora Coin??!! Its up on market cap, way up. I used to have 3 million of those, sold them on cryptsy for like $20 or so...
dave [hodl] matherly (2 years ago)
no, about $20 total. I mined a buttload of them, traded some ... doge I think for a buttload more, wound up with millions thinking I'd hold them till some whale decided to pump them... but instead traded them in for a couple LTC, when it was about $10. Surprised to see it was brought back from the dead, but would rather see it drop back down and out of the way.
frisby850 (2 years ago)
+davematherly So you made $60 Million dollars?
sbohunko (2 years ago)
Delegated is the same as delegates, which separates voters from their votes and so is thus less decentralized than POW in the pure sense. There are arguments against POWs resiliency to centralization, most notably by James D'angelo, whos points deserve to be considered IMO. To put it in a very general sense DPOS is designed to overcome the "Stake Grinding" attacks that POS is vulnerable to. But DPOS still needs to be criticized for its own susceptibility to centralization. The original intent of POW was 1 CPU 1 vote, any deviation from that starts running into a tangle of abstraction. Overall a good report :-)
Amanda B. Johnson (2 years ago)
+sbohunko Ah, indeed. Answers merely bring about more questions! The truest of inquiries...
sbohunko (2 years ago)
To follow your point to its conclusion, where everyone mining may have 1 vote only: the way to manage that would be with an unbreakable ID system but now you have 0 anonymity in the system for miners.
Amanda B. Johnson (2 years ago)
+sbohunko Though isn't the whole notion kind of debunked when you realize that any one person can own and vote with as many CPUs as they want?
sbohunko (2 years ago)
Thats a very good question. There are a whole panoply of POW algo out there that try to be ASIC resistant in different ways, such as Dagger X11(used in Dash), memory intensive algos such as Scrypt in Litecoin and so on. But any of them can be turned into an ASIC if the incentive A.K.A. mining profit where there. This is actually a very academic subject, I think James D'Angelo would be a first-class guest who could answer your question in greater depth. :-)
Amanda B. Johnson (2 years ago)
+sbohunko Interesting point. It does indeed seem that Satoshi did not envision mining pools or ASICs or anything like that. Are you aware of any algos which somehow maintain the 1 CPU/1 vote setup?
dave [hodl] matherly (2 years ago)
yay! BNK to the FUTURE!!! I 'm loving those guys, bigtime! along with your new haircut :) you guys rock
Lisk (2 years ago)
Thank you for the mention Amanda! Everyone who wants to know more about Lisk: https://lisk.io/
frisby850 (2 years ago)
+King Genova Wow good info! So your saying I should maybe sell only half at launch and save the other half for when price goes to at least 5 USD?
frisby850 (2 years ago)
+King Genova I would like to make 100k-250k from this :)
frisby850 (2 years ago)
+King Genova Wow that's a lot. I invested about 3 btc. Serious question. Should I sell at launch and take profit or hold til it reaches like 5-10 dollars?
frisby850 (2 years ago)
+King Genova How much btc you put in?
frisby850 (2 years ago)
+King Genova I agree maybe even 20x 👍👍👍

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.
How to become bitcoin trader? Exactly like Bitcoin, multiple digital currencies exist in the marketplace. So if you prefer to buy a few other currencies which aren`t available on Indian Exchange than you can utilize Bittrex. All you have to do is locate an exchange that you favor. Cryptocurrency exchanges have a massive potential to modify peoples minds and opinions concerning cryptocurrencies generally speaking and their application in actual life. So even in the event the exchange is attacked, its still true that you have your money. Furthermore, the exchanges prepare each and every industry for Bitcoin expansion. Existing stock exchanges will also compete to be able to fulfill the users configuration requirements. Sooner or later later on, the prices will grow more equal, meeting somewhere in the middleyour profit is equivalent to the quantity of convergence. No matter how far it is from Kijun, it is likely to return and test that level at some point. The amount of bitcoin is perpetually changing. In the US, it is 1000 USD. Whats even better, seek the services of a seasoned lawyer or at least ask for an in depth consultation. So youve read the newspaper about the meteoric growth of crypto currencies including Bitcoin or Ripple. Then coming up with 1000s of exchange rates simply to go out and get groceries is nearly impossible. Many cities around the world provide a bitcoin ATM where you are able to trade cash for bitcoin. The cryptocurrency world isn`t efficient.