What is Delegated Byzantine Fault Tolerance (dBFT)?

Delegated Byzantine Fault Tolerance (dBFT) is the consensus method that was created by NEO to be a more advanced version of Proof of Stake (PoS). The consensus mechanism is similar to regular Byzantine Fault Tolerance (BFT) except it employs a methodology whereby anyone can become a delegate that meets specific requirements. In this case, delegates are allowed to share and compare the proposals from other potential delegates. The system possesses extremely fast finality times and transaction speeds, but some argue that it is highly centralized because NEO only employs seven main Consensus Nodes to reach network consensus.