Proof-of-validation (PoV) is a unique proof-of-stake (PoS) consensus mechanism that works to achieve consensus through staked validator nodes.
What Is Proof-of-Validation?
Proof-of-validation (PoV) is a unique proof-of-stake (PoS) consensus mechanism that works to achieve consensus through staked validator nodes. Each node within a PoV system keeps a complete copy of the sequence of transactions in blocks that are created on the blockchain. A copy of all of the user accounts can then be identified by a user’s public key, as well as whichever crypto token that node owns.
From this point onwards, a user can stake their coins inside of the validator nodes. The number of tokens staked within each validator will consequently determine the number of nodes that a specific validator possesses.
A new block is confirmed once a set of validators, with at least two-thirds of the network’s total voting power, send a commit vote for that block. This means that PoV protocols can be Byzantine fault tolerant, and they can only remain healthy if one-third or less of the network’s total nodes get compromised.