Verification of Delegated Power (VDeP)
Binance Smart Chain (BSC), a popular blockchain network, has implemented a unique consensus mechanism called PoSA (Proof of Staked Authority). This mechanism is crucial for networks where speed and trust in validators are of utmost importance.
PoSA on BSC offers a combination of high performance and security, making it an efficient solution for networks requiring both speed and reliability. The mechanism works by having validators, who are verified and stake their BNB tokens, participate in validating transactions and creating blocks.
The PoSA mechanism on BSC is a blend of the economic incentives of Proof of Stake (PoS) and the reliability of Proof of Authority (PoA). This hybrid approach ensures that the network maintains a balance between economic incentives and reliability, thus providing a robust and secure environment for its users.
It's worth noting that the blockchain network that uses the PoSA consensus mechanism is not BSC, but another network named VeChain. After its July 2025 Renaissance Upgrade, VeChain replaced its previous Authority Masternode system with an open validator model. This upgrade allows anyone holding at least 25 million VET tokens to participate as a validator. These validators act as the staked nodes responsible for validating transactions, supported by delegators who stake via Staking-NFTs to entrust their coins to validators.
In the PoSA mechanism on BSC, validators are selected and required to stake BNB tokens. This requirement ensures that only committed and invested validators are part of the network, contributing to its overall security and stability.
In conclusion, the PoSA mechanism on BSC, while not directly applicable to the network itself, demonstrates a promising approach to consensus mechanisms. By combining the benefits of PoS and PoA, it offers a high-performance, secure, and reliable solution for blockchain networks.
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