The BitWhite network uses a very exotic, but perspective DPOS mining system. The main difference from the classical Proof-Of-Stake mining is that the blocks are signed by so-called “delegates” (see the “D” prefix — delegate POS).
Delegated Proof of Stake (or DPoS protocol) is the fastest, most flexible, efficient and decentralized consensus model, which is a form of technological democracy. Imagine a system where a each employee (candidate) has the opportunity to dismiss an incompetent manager (delegate). Such a system is already quite close to implementation. It allows employees to influence on their bosses. And it’s called DPoS.
The system’s efficiency is in the ability to select truly valuable participants for its development and simultaneously removes useless ones. It depends entirely on the activity of the voters.
Each delegate in the top 101 rating gets the opportunity to sign a block and receive a rewards. With the launch of a new cycle (101 units), there is a reassessment of delegates and their productivity or stability of the server, as well as the weight of the votes. If during this time about 34 minutes the voter transferred coins from his wallet, his voice weight is reset.
Using vote system members of the community can choose certain candidates. The power of the voice is directly proportional to the number of coins in the user’s wallet. This means that user who own a large number of coins can have a greater impact on the development of the network.
Such a system should encourage owners of nodes not just to be passive “miners”, but to participate in community life promoting Bitwhite as a technology. Moreover, part of the rewards for the block is distributed among all voters of this delegate based on his decidion
With the growth of the community, it becomes difficult to retain its place among the top 101 delegates. In case of poor work of the delegate, community members can withdraw their votes. The process of voting in a network based on DPoS doesn’t stop. It is permanent.
This innovation from BTW team is a new reality and big opportunities!
There rules of the game are available for everyone now!!!
https://t.me/BTW_Community
https://bitwhite.org/
Daemon - BitWhite Team
