Bonded Proof of Stake is a consensus mechanism in which individuals who hold a certain amount of a specific cryptocurrency can participate in validating transactions and creating new blocks on the blockchain. In this system, participants must “bond” or lock up a certain amount of their coins as collateral in order to be chosen as validators.
The amount of coins that need to be bonded is usually determined by the network protocol, and validators are selected based on the amount of coins they have bonded. This system helps to ensure that validators have a stake in the network and are less likely to act maliciously, as they would risk losing their bonded coins if they attempt to act dishonestly.
Bonded Proof of Stake is considered to be more energy efficient than other consensus mechanisms like Proof of Work, as it doesn’t require validators to solve complex mathematical puzzles. This makes it a popular choice for many blockchain projects looking to improve scalability and reduce energy consumption.
