A consensus mechanism where token holders vote for a limited set of delegates who produce blocks on behalf of the network.
Delegated Proof of Stake (DPoS) selects a small committee of validators via token-weighted voting. This improves throughput and latency versus fully open validator sets, at the cost of greater centralization risk.
In a DPoS network with 21 active validators, token holders periodically vote to elect or remove delegates; misbehaving validators can be replaced quickly.
Advantages include high performance and predictable block intervals. Risks include cartel formation, vote buying, and plutocratic control.
A large holder amasses voting power to keep a friendly set of delegates in control, reducing the network's effective decentralization.
All terms and definitions may update as the Cryptionary improves.