Leasing Proof of Stake (PoS/LPoS)

Last updated 7 months ago

LPoS is an enhanced version of Proof-of-Stake. In a regular Proof-of-Stake system, each node that holds a certain amount of cryptocurrency is eligible to add the next block to the blockchain but in the LPoS system, on the Waves Platform, users can lease their balance to full nodes. WithLPoS, the user will have the ability to Lease WAVES form the wallet to different contractors which can pay a percentage as a reward. The larger the amount that is leased to a full node, the higher the chances of that full node being selected to produce the next block. If that full node is selected to produce the next block, the leaser will then receive a percentage of the transaction fee that is collected by the full node. In a LeasedProof-of-Stake environment, users can choose between running a full node or leasing their stake to a full node with receiving rewards. This system allows anyone to participate in the Waves network maintenance. User can leas his waves through leasing on any computer or mobile device that has an internet browser since Waves provides a lite client solution that does not require Miners, that are leasing their balance to store the whole Blockchain or to have the wallet running

Used in

  • Nxt

  • Waves