Advanced Proof of Stake

Proof of Chain (PoC)

A critical aspect of designing a blockchain system is choosing and implementing the right consensus protocol. This protocol not only determines how consensus on the blockchain's state is achieved within a decentralized network but also defines the governance model imposed on the system.

Proof of Chain (PoC) Mechanism

Proof of Chain (PoC) is a consensus mechanism where block validators are selected based on the number of coins they stake. Staking involves validators committing funds to the system, allowing them to participate in producing new blocks once approved by OPTIMUSZ7 Blockchain. The staked funds act as collateral, meaning malicious validators risk losing their stake and being expelled from the network. Conversely, honest validators are rewarded as new blocks are forged. Thus, a PoC blockchain achieves distributed consensus based on the economic stake that validators commit to the network.

Benefits of PoC in OPTIMUSZ7 Blockchain:

• Block Production: Blocks are produced by a selected set of validators.

• Validator Rotation: Validators take turns producing blocks, similar to Ethereum’s Clique consensus design.

• Staking-Based Governance: Validator sets are elected in and out based on staking, ensuring a fair and secure governance model.