Glossary

Proof of Work (PoW): A consensus mechanism using mathematical puzzles that require energy expenditure to incentivize network participants to verify transactions and add the next block to the blockchain.

Proof of Stake (PoS): An energy efficient consensus mechanism that validates transactions by selecting validators in proportion to the value of their staked holdings.

Delegated Proof of Stake (DPoS): A version of Proof of Stake consensus in which users of the network delegate tokens to stakers that validate the next block.

Ethereum Virtual Machine (EVM): Turing-complete virtual machine that enables smart contracts on Ethereum and other EVM compatible chains.