What Is Delegated Proof of Stake (DPoS)?
Delegated Proof of Stake (DPoS), an advanced version of the core concepts of Proof of Stake, was developed in 2014 by Daniel Larimer, the founder of BitShares, Steemit, and EOS. Delegated Proof of Stake uses a voting system where users stake tokens to vote for delegates or witnesses. Delegates elected by voting are responsible for network security as well as block creation and verification. Delegated Proof of Stake is a more democratic version of the Proof of Stake (PoS) consensus mechanism. Both algorithms are used as alternatives to high-energy consuming PoW.