Nominated Proof-of-Stake (NPoS)Polkadot implements Nominated Proof-of-Stake (NPoS), a relatively novel and sophisticated mechanism to select the validators who are allowed to participate in its consensus protocol. NPoS encourages DOT holders to participate as nominators. Any potential validators can indicate their intention to be a validator candidate. Their candidacies are made public to all nominators, and a nominator, in turn, submits a list of up to 16 candidates that it supports, and the network will automatically distribute the stake among validators in an even manner so that the economic security is maximized. In the next era, a certain number of validators having the most DOT backing get elected and become active. For more information about the election algorithm go to this page on the wiki or this research article. As a nominator, a minimum of 250 DOT is required to submit an intention to nominate, which can be thought of as registering to be a nominator. Note that in NPoS the stake of both nominators and validators can be slashed. For an in-depth review of NPoS see this research article.Question 2: Why would Polkadot choose Proof-of-Stake over Proof of Work? a.Lower energy utilization b.Better decentralization c.Enhance resistance to 51% attacks d.Faster transaction speed
Nominated Proof-of-Stake (NPoS)
Polkadot implements Nominated Proof-of-Stake (NPoS), a relatively novel and sophisticated mechanism to select the validators who are allowed to participate in its consensus protocol. NPoS encourages DOT holders to participate as nominators.
Any potential validators can indicate their intention to be a validator candidate. Their candidacies are made public to all nominators, and a nominator, in turn, submits a list of up to 16 candidates that it supports, and the network will automatically distribute the stake among validators in an even manner so that the economic security is maximized. In the next era, a certain number of validators having the most DOT backing get elected and become active. For more information about the election
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