DECENT is on the verge of releasing a new miner voting tool for their DCore network which will make it easy for DCT holders to vote for miners in DCore. On the brink of this news, it’s beneficial to look deeper into how DCore mining works, why voting in DPoS (Delegated Proof of Stake) is so important, and why DECENT chose DPoS for their blockchain technology and platform.
In DCore DPoS consensus mechanism, stakeholders (DCT holders) have a responsibility to make sure the network is appropriately distributed to ensure the health and security of the blockchain. DCT holders do this by voting for delegates to become witnesses. It is important to point out that in DPoS, miners are often called witnesses and they are responsible for creating blocks in the blockchain. The number of active witnesses running the network is voted on by DCT holders and the more DCT one holds, the more impact each vote has. Currently, the DCore blockchain is maintained by 33 active witnesses.
Witnesses have a huge responsibility and are crucial to the integrity of the blockchain, therefore, they should not be chosen at random, instead, they should have a proven track record before being considered. Witnesses run servers (nodes) which process and organize data into blocks and validate them into the blockchain. Every block is created by one active witness who is chosen at random from the list of active witnesses. That witness is tasked with creating and validating a new block and adding it to the current blockchain. If a witness misses a block, it is passed to another active witness. This process happens extremely quick making DPoS the fastest consensus mechanism to date (5 seconds in DCore). Active witnesses also vote collectively for several parameters of DCore such as block size (2MB), block creation intervals (5 seconds), fees, and more.
Stakeholders also have the power to remove their votes for any witness if they become unreliable (miss too many blocks), which helps reinforce a democratic environment. Votes are counted every 24 hour period and the list of active miners changes accordingly. Another feature of DPoS, is that stakeholders can delegate their voting rights to another stakeholder, allowing for voting pools and other trusted users to vote by proxy for those that don’t wish to vote directly themselves but still want to protect the network.
The insanely fast speed of transactions and energy efficiency makes DPoS perfect for a blockchain focused on real world applications, such as DCore. In this regard, it’s not difficult to understand why DECENT chose it for their blockchain technology and platform.
DECENT is a non-profit foundation that has developed an open source blockchain ecosystem focused helping businesses adapt to a decentralized future. With their proprietary technology and platform called DCore, DECENT can improve a wide range of real-world applications, especially content distribution networks.
DCore is the blockchain you can actually build on. Developed by DECENT, this platform is set to revolutionize the way digital data is exchanged by providing simplified, decentralized and borderless content and data distribution. Strong cryptography ensures the highest level of security and trust. DCore is an open-source solution for companies looking to fast-track their own blockchain-based ideas.