What Is Proof-of-Validation?
Proof-of-Validation (PoV) is a consensus mechanism that operates within a proof-of-stake (PoS) framework to achieve consensus through validator nodes.
In a PoV system, each node maintains a complete copy of the transaction sequence within blocks on the blockchain.
Additionally, the node can associate user accounts with their public keys and the corresponding crypto tokens they own.
To participate in the PoV system, users can stake their coins within validator nodes.
The number of tokens staked determines the number of nodes a validator possesses within the network.
Ensuring Robustness
In PoV, the confirmation of a new block occurs when a set of validators, representing at least two-thirds of the network’s total voting power, send a commit vote for that block.
This design allows PoV protocols to be Byzantine fault tolerant, meaning they can remain operational and secure even if up to one-third of the network’s nodes become compromised.
Proof of Validation and Proof of Stake
Proof-of-Validation and Proof-of-Stake share similarities, with Proof-of-Validation being a subset of Proof-of-Stake, similar to delegated proof-of-stake.
This means that all PoV blockchains utilize a form of PoS, but not all PoS blockchains implement PoV.
As a result, PoS is more prevalent and widely adopted than PoV.