What is Effective Proof of Stake (EPoS) (Harmony)?

Effective Proof of Stake (EPoS) is Harmony's proprietary Proof-of-Stake (PoS) mechanism and is designed to increase network security and decentralization. EPoS allows thousands of validators to stake in a fair and equitable manner, reducing the possibility of staking centralization. Harmony's EPoS staking framework supports reward delegation and reward compounding and encourages 100% network uptime by slashing validators who double-sign transactions and penalizing elected but unavailable nodes.