What is Effective Proof-of-Stake (EPoS)?
Let's find out Effective Proof-of-Stake (EPoS) meaning, definition in crypto, what is Effective Proof-of-Stake (EPoS), and all other detailed facts.
The term Effective Proof-of-Stake (EPoS) is used to describe a better version of the Proof-of-Stake (PoS) consensus mechanism provided by Harmony. This means that Harmony’s blockchain uses Effective Proof-of-Stake as a replacement for Proof-of-Work (PoW).
EPoS is an improved version that guarantees that Harmony’s blockchain remains decentralized by implementing random state sharding. Its goal is to make sure that major stakeholders can’t centralize power. This is done by making the validators that hold a bigger number of stake tokens than others must also run a bigger number of nodes.
Effective Proof-of-Stake is considered to be the first Proof-of-Stake mechanism that directs its attention to the sharding process.
In order to make sense of EPoS, you must have a clear understanding of Proof-of-Stake.
Essentially, Proof-of-Stake is a consensus mechanism implemented within the blockchain that allows the production of blocks while also validating transactions and eliminating the problem of double-spending. It can be considered a sort of alternative to Proof-of-Work.
Effective Proof-of-Stake<\/strong> is considered to be <strong>the first Proof-of-Stake mechanism that directs its attention to the sharding process<\/strong>.<\/p>\n<p>In order to make sense of EPoS, you must have a clear understanding of Proof-of-Stake.<\/p>\n<p>Essentially, Proof-of-Stake is a consensus mechanism implemented within the blockchain that allows the production of blocks while also validating transactions and eliminating the problem of <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-double-spending/">double-spending/strong>/a>. It can be considered a sort of alternative to Proof-of-Work.<\/p>","definition":"is a variant of the Proof-of-Stake consensus mechanism introduced by Harmony.","status":"published","meta_title":"What is Effective Proof-of-Stake (EPoS)? Definition & Meaning | Crypto Wiki","meta_description":"Effective Proof-of-Stake (EPoS) meaning: Effective Proof-of-Stake (EPoS) - is a variant of the Proof-of-Stake consensus mechanism introduced by Harmony.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? 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