🔐Secured Proof of Stake

The Secured Proof of Stake consensus mechanism that Elrond employs features a number of unique innovations such as its randomized validator selection which facilitates its high-speed transaction throughput in a near-instantaneous manner. Secured Proof of Stake eliminates Proof of Work (PoW) computational waste, thus rendering it a secure and low-latency solution for consensus whilst ensuring distributed transparency.

The novel mechanism works by combining; eligibility through the amount of staked tokens, a network rating for each node with a random validator selection and an optimal dimension for the consensus group.

On the Elrond Network, the term node refers to a server, smartphone, or computer that runs the client software to relay and process data across the network. Secured Proof of Stake transacts data and establishes consensus with the aid of three types of nodes, Validators, Observers and Fishermen. With the help of the separated shards that were obtained through Adaptive State Sharding, each validator only needs to confirm the data held on its particular shard, instead of all the data held on the blockchain, achieving maximum operational efficiency.