📄️ What is Staking?
Staking refers to the process of participating in a Proof-of-Stake (PoS) blockchain network by holding and locking up a network's native tokens in a digital wallet to support network operations such as transaction validation, security, and governance. In return for staking their tokens, participants receive rewards, often in the form of additional tokens, proportional to their stake.
📄️ Proof of Stake
Proof of stake (PoS) is a consensus mechanism designed to safeguard against Sybil attacks, where a user tries to take over the network with multiple false identities. In proof-of-stake, validators are randomly selected to add blocks to the chain based on the amount of cryptocurrency they hold. This means that validators do not need to compete to solve complex mathematical puzzles, as they do in proof-of-work (PoW) systems.
📄️ Delegated Proof of Stake
Delegated proof-of-stake (DPoS) is a variation of proof-of-stake (PoS) that allows users to delegate their stake to other users, called validators. This means that users do not need to run their own validator node in order to participate in the consensus process. It lowers the barrier for everyday individuals to participate in staking.
📄️ Torus DPoS
Now that we've gone over the differences of Proof of Stake and Delegated Proof of Stake, we can get into what system Torus uses.