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分析师樊绪新杨其TI-Staking研究报告August2019TokenInsight同时提供项⽬目深度分析，⾏行行业研究报告以及咨询服务，您可通过以下⽅方式联系我们：TokenInsight.combd@tokeninsight.comFind,Create,andSpreadValueinBlockchain.tokeninsight.comTableofContents1 1.1 51.2 61.3 72 PoS Staking2.1 PoS92.2 Staking 112.3 Staking 133 Staking 3.1 Staking 153.2 Staking 224 Staking 4.1 244.2 244.3 25 4.4 25 4.5 265 276 28TOKENINSIGHTRESEARCH3 10 威 PoW Hash PoW ⼦威 0.21%参 Peercoin PoS 及 PoS 参 PoW PoW PoS Hash 处PoS 细 PoS 2017 Vitalik 参 2.0 CasperPoS PoS CosmosPolkadotAlgorand PoS Staking Proof of StakePoS Stake终 PoS 终 PoS Staking PoS 对 Staking Staking 参对 Staking PoS PoS PoS TOKENINSIGHTRESEARCH4PoS PoW PoW PoS 细 维 Staking Proof of StakePoSStake终PoS终 Staking Economy Staking失StakingPoSStakingToken名Staking名TokenStaking Staking“”“” StakingStaking展Staking TOKENINSIGHTRESEARCHtokeninsight.com501. 1.1 担P2P矿 终参咨PoWPoSBFT参参参3 PoW PoS 231展 23 PoW PoS 终 PoW Nonce PoS BFT维2/3参功2/3参 pBFT 细 O(n^2) 维100 pBFT 参 Zilliqa TOKENINSIGHTRESEARCHtokeninsight.com6pBFT pBFT prepare commit 细 O(n)pBFT (n-1)/3功 2/3 参属参pBFT BFT 功终PoW参PoSStakingBFT展BFTBFT展 1.2 1-1 ‣ 1-1 PoWPoSBFT50%50% 33.33%Hash覆威威名细细TokeninsightTOKENINSIGHTRESEARCHtokeninsight.com7功 n 功 n ⼥PoW威 PoS 展 PoS PoW 威参威威 PoS 功参展 PoS Polkadot Edgeware参 PoW PoS BFT BFT 2/3参 BFT PoW PoS 1.3 名PoW 失威51%PoS PoW PoS PoS TOKENINSIGHTRESEARCHtokeninsight.com8BFT BFT 展咨咨名参 1.3.1 展维维维参 PoW PoS BFT 1.3.2 展名Cosmos Tendermint BFT based PoS PoS BFT Zilliqa Zilliqa pBFT PoW PoW 名DS 名功展展TOKENINSIGHTRESEARCHtokeninsight.com902. PoS Staking2.1 PoS PoSPoW Hash处参Hash处MD4、MD5、SHAPoWHash参 参PoWNonceHash功终 PoWHashHash覆威PoW PoW及2011PoSBitcointalk2012PeerCoinPoSPeerCoinPoSPoW+PoS PeerCoinCoinAgePeerCoin功终PeerCoinHash参终Hash威Hash(BlockInfo,nonce)TargetHash(BlockInfo,Timestamp)Target*CoinAgeTOKENINSIGHTRESEARCHtokeninsight.com10功PeerCoinPoS参NextCoinPoSHash终参PoS参参 PoS终Hash处终威终PoSPoWPoS属PoS1-1 PoS终威终PoSPoWPoS属 PoSPoWCPU维PoS担DPoS终DPoS维功DPoSPoSDPoS功DPoS展 PoWPoS功PoS参维PoWPOS STAKINGFunction()Target*Balance‣ 2-1 PoS : TokenInsightTOKENINSIGHTRESEARCHtokeninsight.com11威维功51%参参维参PoSPoW51%PoW维威威PoS威参维PoS PoS名参参CasperPoS参CasperCasperSlash⼥Casper 属 PoSCosmosPolkadotPoSPoSPoSStaking参PoSStaking 2.2 Staking Staking Staking Proof of StakePoSStake终PoS终Staking参PoW 2100终失功50名PoW参POS STAKINGTOKENINSIGHTRESEARCHtokeninsight.com12POS PoWStakingPoSStakingPoSStakingPoWPoW威PoSStakingPoSPoS矿PoWHashPoSHashStaking维维 PoSSlash参CosmosSlashCosmosSlash⽩ 2-2 StakingPoW‣ 2-2 StakingPoWStakingPoW威终处HashStaking威⽩覆威名细TokeninsightTOKENINSIGHTRESEARCHtokeninsight.com132.3 Staking 3-1PoWPoW功PoWPoSStakingPoSPoW Staking1%158%PoSStakingStaking StakingStaking参担 = (*)/(*) = / 参StakingStakingStaking参 参参POS STAKINGTOKENINSIGHTRESEARCHtokeninsight.com14‣ 2-3 StakingStakingStaking矿+矿矿矿矿Tokeninsight2-3Staking矿功参StakingStakingStaking矿StakingStaking失5%参 PoSStakingPoSPoWPoWPoSPoSStaking功POS STAKINGTOKENINSIGHTRESEARCHtokeninsight.com1503. Staking 3.1 Staking Staking Staking Rewards2019815Staking13742%57CosmosAlgorand2019参StakingEthereumPoSPolkadot4-1 StakingEOS参15.7staking‣ 3-1 Staking stakingrewardsTOKENINSIGHTRESEARCHtokeninsight.com16STAKINGStaking StakingStakingStakingStakingStaking 4-2Token名Staking名TokenStaking‣ 3-2 Staking : TokenInsightStakingTOKENINSIGHTRESEARCHtokeninsight.com17STAKINGStaking PoS参终SlashStaking展 CosmosTendermint2016CosmosHub-Zone功Hub维参HubZoneZoneIBC (Inter-Blockchain Communication Protocol)HubCosmos Hub Cosmos 功Hub, ATOMCosmos Hub终ATOM参Cosmos Hub终ATOM Cosmos7%-20%ATOM7.16%功展10.47%87.3% IOST威担IOSTPoBIOSTPoWPoB覆威威EthereumEVMIOST V8VMV8VMEthereum展IOST IOST 功Token属 IOST TOKENINSIGHTRESEARCHtokeninsight.com18STAKING CyberMiles担CyberMiles可Smart Business Contracts对咨CyberMilesCMTCyberMilesCyberMiles展5milesC2CM5miles1000参对参 CyberMiles 8% CMT 参参咨CyberMiles APP CMT 终stake 10,000 CMT30%CyberMiles APP 终15%1,948,355 MultiVAC-MultiVAC 功 UTXO 参MultiVAC 担 Merkle Tree 终功 1 KB参 MultiVAC 功 2000 功功 PC 参TOKENINSIGHTRESEARCHtokeninsight.com19STAKINGStaking PoS功可参Staking as a Service及咨终StakingStaking威Token威 HashQuark HashKey Group POSDPOS 参对 Staking VETEOSCosmosChainX维功参 Staking HashQuark Open Staking Platform OSP功展参 StakingOPSStakingOSPIncubatorOSPAccelerator参OSPServiceStakingOSPCloud威Staking担 TOKENINSIGHTRESEARCHtokeninsight.com20STAKING TokenTokenStakingTokenStaking参Staking参Staking Coinbase功CoinbaseStakingCoinbase Custody展Coinbase CustodyCoinbasestaking Tezos属CosmosPolkadotPoSCoinbase Custoy PoS Kucoin功Soft-Staking Soft-StakingKuCoinSoft-Staking-CosmosEOSTronIOSTNRGONIONNEBLNULSTOMO EOSCLOOMPOS2018失StakingStakingStakingKuCoin益参StakingStaking导 KuCoinKuCoin参KuCoinKuCoinKuCoinTOKENINSIGHTRESEARCHtokeninsight.com21STAKINGC 参咨Staking Cobo StaaS (Staking as a Service) Cobo CustodyStakingStaking20维700DASHIoTeX6%40% HashKey HubStakingHashQuarkC展BinancePoloniex参外ATOM, IRIS, CMTPoSBTCPCXTOKENINSIGHTRESEARCHtokeninsight.com223.2 Staking StakingPoW PoSPoWHashStakingStaking功维PoW参属矿StakingStaking24Slash⽩Staking⽩PoWStaking功Staking