Secure Proof of Stake (SPoS)

Secure proof of stake (SPoS) is the name the MultiversX network, known as Elrond until 2022, gives to its consensus mechanism. It is a variant of proof of stake designed to work with the network's sharding, in which the chain is split into several shards that process transactions in parallel. For each round, a small consensus group of validators is selected within each shard, with the chance of selection depending on the validator's stake and on a rating that rises with reliable behaviour and falls with missed duties. Randomness for the selection is drawn from signatures produced in previous blocks, which aims to make the choice hard to predict or manipulate. Validators are reshuffled between shards over time to limit collusion. The token and network are covered under MultiversX (EGLD). The term is specific to this project and is not a general industry standard.