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Polymesh Glossary
Decentralization, governance, and transaction finality
The Cryptoeconomic system: consensus, proof–of–stake, and who’s involved
Tokenization, tokens, and their types and standards
DLT, blockchain, and the different types and layers
Proof-of-stake (PoS)
The consensus mechanism used on Polymesh. Unlike proof-of-work, proof-of-sake determines which node will create or validate the next block based on how much they have staked in the system, instead of computational effort. A stake is the number of tokens the node has for the particular blockchain. On Polymesh, node operators and stakers work together, with stakers helping node operators increase their chance of receiving rewards from validating blocks. Node operators take a percentage of the reward, with the rest dispersed among stakers, but should the node operator fail to behave reliably, they will lose their stake. This helps to incentivize honest network behaviour, since there is something (literally) at stake for fraudulent or malicious behaviour.
