Difference between pure, delegated, liquid and bonded
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Pure Proof-of-Stake is a technology that allows for open participation, scalability, security, and transaction finality. The network's security is tied to the majority's honesty in this algorithm.
This algorithm differs from the previously stated DPoS, LPoS, or BPoS in that there are no disciplinary mechanisms in the event that an entity misbehaves. Rather of punishing bad actors, the network prefers to make cheating with a minority of the money difficult and cheating with a majority of the money just dumb. The protocol is designed in such a way that it will continue to function normally as long as 75 percent of the network's population is honest.
DPoS is often implemented via an election mechanism in which a predetermined number of validators are permitted to secure the network. As a token holder, you have the ability to vote on who will validate network transactions, with your voting power defined by the quantity of your investment. The validators who receive the most votes become delegates, validating transactions and collecting rewards.
DPoS has been implemented on protocols such as Lisk, Tron, Steem, Bitshares, and even EOS, a scalable blockchain Dapp platform established by Daniel Larimer and most known for its $4 billion ICO over the course of a year. DPoS may need a substantial amount of computational power for the validator, depending on the protocol.
Delegation is optional in LPoS. Token holders can delegate validation powers to other token holders without custody, which means the tokens stay in the wallets of the delegators. Furthermore, only the validator is punished in the event of a security flaw (e.g. double-endorsing or double-baking). LPoS also provides voting rights, but as a token holder, if you run your own baker, you get to vote directly on protocol revisions, rather than just who protects the network, as in DPoS.
Tezos, an on-chain governance protocol invented by Kathleen and Arthur Breitman that has been working successfully in mainnet since September 2018, was the first to incorporate LPoS.
BPoS is similar to LPoS in that delegation is optional and non-custodial, and token holders have voting rights in protocol revisions. However, there is a reason why it is termed BPoS: if a safety or liveness defect occurs, a percentage of the validators' and delegators' stake will be reduced. In LPoS, only the validator is at danger of cutting, whereas the delegate's sole risk is missing out on certain rewards/interests if the validator is dishonest or inefficient.
This BPoS method has the benefit of offering a clear answer to the issue of staking ratios (equivalent to capital requirements) that some LPoS protocol validators must maintain in order to avoid becoming over-delegated and disappointing some of their delegators. While this eliminates the problem, it also implies that delegators must exercise more due diligence before delegating and stay active in evaluating the effectiveness of their validator.