DeFi 10115 September 2021

What is SPoS?

What is SPoS?

Summary

· SPoS ensures security by warding off attacks

· Validators receive roles for the network’s best interest

· Only the Elrond Network uses SPoS

The SPoS or Secure Proof of Stake is a consensus mechanism that ensures that attackers are kept off. Under SPoS, nodes need to have a minimum qualifying state and a good reputation on the network to be eligible candidates as validators or block proposers.

The reputation depends on node actions. Each validator can receive a role that they are willing to play in the interest’s best network. This mechanism gives every participant the power to act on their behalf instead of delegating the nodes.

In each round, a sampled but qualified group of nodes are randomly selected. From one consensus group, one node acts as the validator or block proposer. The proposed block is approved when two-thirds plus one of the validators in the group aggregate signatures. The selection process is via a variable derived from the signature of the previous block, making it hard for an attacker to know which node to attack.

The Elrond Network only uses SPoS. It ensures the network can achieve almost linear scalability by letting easy node access sourced from anywhere without endangering network security.

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