Contract function

In DPoS, token holders vote for a select number of delegates who validate transactions and produce blocks. This streamlined approach enhances scalability and efficiency, balancing decentralization and speed!

History of DPoS

, a prominent figure in the blockchain community, formally introduced the concept of DPoS. Larimer proposed DPoS as a more efficient and scalable consensus mechanism.

BitShares: The first implementation

In 2014, implemented DPoS in , a decentralized exchange and financial platform. was one of the first projects to employ DPoS in a real-world blockchain application. went on to implement DPoS in Steemit, a social media platform, and later in EOS (Enterprise Operating System), a blockchain platform designed for decentralized applications (DApps). EOS, in particular, gained significant attention for its DPoS-based consensus model.

Advantages of Delegated Proof of Stake

Delegated Proof of Stake (DPoS) offers several advantages that contribute to its popularity as a consensus mechanism in blockchain networks:

Efficiency and scalability

DPoS streamlines the block validation process, leading to faster transaction confirmation times and higher throughput than Proof-of-Work (PoW) systems. The limited number of elected delegates enhances the scalability of the network.

Reduced energy consumption

Unlike PoW, which involves energy-intensive mining processes, DPoS significantly reduces the environmental impact by eliminating the need for extensive computational power.

Democratic governance

DPoS allows token holders to participate in the selection of delegates through voting actively. This democratic governance model aims to strike a balance between decentralization and efficiency.

Decentralization with controlled nodes

While DPoS reduces the number of validating nodes compared to other consensus mechanisms, it maintains decentralization by allowing token holders to choose delegates. Controlled participation ensures a more predictable and manageable network.

Improved security

DPoS enhances security by limiting the number of validating nodes and rotating delegates through voting. Regular rotation of delegates prevents the concentration of power and mitigates the risk of collusion or malicious behavior.

Incentivization for network participants

Elected delegates are incentivized to act honestly and efficiently through rewards. This incentive structure encourages a competitive and reliable network.

Transaction finality

DPoS provides faster transaction finality, meaning that once a block is added to the blockchain, the probability of it being reversed is extremely low. This feature is particularly beneficial for applications requiring quick and irreversible transactions.

Adaptability and upgrades

DPoS allows for easier upgrades and adjustments to the consensus mechanism without requiring a hard fork. This adaptability facilitates the evolution of the blockchain network in response to changing requirements or improvements.

Community engagement

Token holders are actively engaged in the governance of the network, fostering a sense of community and shared responsibility. The voting process encourages ongoing participation and alignment of interests between the community and the blockchain's success.

Predictable block production

DPoS introduces a more predictable schedule for block production, aiding developers and users in anticipating when transactions will be confirmed.

Delegated Proof of Stake's combination of efficiency and scalability makes it an attractive choice for blockchain projects that balance performance with decentralization.

Start Mining

Mine EBTC by depositing BNB. Delegated Proof of Stake (DPoS), an evolved version of Proof of Stake.

Deposit a minimum of 0.1 Binance to become a Validator. Mining speed is proportional to the number of authorized shares.
DPoS helps ensure honesty and fairness & guarantees value for each EBTC mined. Therefore you cannot cancel the deposit.
Network Difficulty: ≈ 2000 x Your hash rate
Your hash rate: Your voting BNB amount

The initial mining reward has an extremely complex formula involving the total mining supply, the total amount of BNB staked by validators, and the current value of the BNB coin. Tested and audited formula ensures operational integrity of the protocol.

The mapping on the interface can be easily explained as follows: ((( Total BNB booked x PRICE_RATIO) / Total amount of untapped EBTC)) x PRICE_DIVIDER ))) .

The mapping is as follows: Network Difficulty x Your hash rate. Network Difficulty will decrease by 0.4761904761904762% for every 1,000,000 EBTC mined. Network Difficulty will also increase when validators sell their EBTC holdings.

Locked EBTC & Earn

Sublease EBTC mining power by locking EBTC. Get share rewards 219% per year, 0.6% per day, 0.025% per hour.

Unlimited number of locks. Unlimited number of times to receive rewards.
You can withdraw the lock property after 7 days. Profit remains active until you withdraw the locked property.
EBTC lock Network Hash Rate will fluctuate in a less complex formula proportional to the total untapped supply. The fluctuations range from 0.025% per hour to 0.0001% per hour. The progress will return to 0% if the total supply has been fully exploited.

Smart Contract pragma

```solidity
pragma solidity 0.5.10;

library SafeMath {

    function mul(uint256 a, uint256 b) internal pure returns (uint256) {
        if (a == 0) {
            return 0;
        }

        uint256 c = a * b;
        require(c / a == b, "SafeMath: multiplication overflow");

        return c;
    }

    function div(uint256 a, uint256 b) internal pure returns (uint256) {
        require(b > 0, "SafeMath: division by zero");
        uint256 c = a / b;

        return c;
    }

    function sub(uint256 a, uint256 b) internal pure returns (uint256) {
        require(b <= a, "SafeMath: subtraction overflow");
        uint256 c = a - b;

        return c;
    }

    function add(uint256 a, uint256 b) internal pure returns (uint256) {
        uint256 c = a + b;
        require(c >= a, "SafeMath: addition overflow");

        return c;
    }
```

IERC20

interface IERC20 {
    function transfer(address to, uint256 value) external returns (bool);
    function approve(address spender, uint256 value) external returns (bool);
    function transferFrom(address from, address to, uint256 value) external returns (bool);
    function totalSupply() external view returns (uint256);
    function limitSupply() external view returns (uint256);
    function availableSupply() external view returns (uint256);
    function balanceOf(address who) external view returns (uint256);
    function allowance(address owner, address spender) external view returns (uint256);
    event Transfer(address indexed from, address indexed to, uint256 value);
    event Approval(address indexed owner, address indexed spender, uint256 value);
}

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Last updated 7 months ago