DPoS – The Hottest Thing in Blockchain; A Look Inside DCore DPoS Mining

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Bitcoin Garden: DPoS – The Hottest Thing in Blockchain; A Look Inside DCore DPoS Mining
https://bitcoingarden.org/dpos-the-hottest-thing-in-blockchain-a-look-inside-dcore-dpos-mining/

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....