What is Delegated Proof of Stake (DPoS)?

Delegated Proof of Stake (DPoS) is a consensus algorithm some blockchain networks use to achieve distributed consensus. In a DPoS system, token holders can delegate their voting power to "delegates," who are responsible for validating transactions and adding new blocks to the chain. The process of reaching consensus in a DPoS system works as follows: First, token holders vote for delegates using their tokens. These votes determine how much "voting power" a delegate has. The top N delegates with the…