What is the consensus mechanism of Shentu (CTK) coin?

Shentu Coin's unique dual-consensus mechanism combines PoS and DPoS, providing both enhanced security and scalability for its blockchain network.

Dec 14, 2024 at 01:36 pm

What is the Consensus Mechanism of Shentu (CTK) Coin?

Shentu (CTK) is a blockchain platform that utilizes a dual-consensus mechanism, combining Proof-of-Stake (PoS) and Delegated Proof-of-Stake (DPoS), to secure its network and validate transactions. This hybrid approach provides both security and scalability advantages, ensuring a stable and reliable platform for decentralized applications.

Proof-of-Stake (PoS) Consensus

1. Stakeholders: In the PoS consensus mechanism, users who hold a certain amount of CTK tokens become validators, responsible for verifying and validating transactions. The more CTK tokens a validator has staked, the greater their chances of being selected to add the next block to the blockchain.
2. Block Creation: Validators are randomly selected to propose new blocks to the blockchain. Once a validator is chosen, they use their staked CTK tokens to validate transactions, create a new block, and add it to the blockchain.
3. Block Validation: Once a new block is proposed, other validators in the network verify the transactions in the block and check its validity. If a block is deemed valid, it is added to the blockchain, and the validator who proposed the block receives a block reward in CTK tokens.

Delegated Proof-of-Stake (DPoS) Consensus

1. Delegates: In the DPoS consensus mechanism, CTK token holders vote to elect a set of delegates, typically numbering between 21 and 101. These delegates are responsible for validating transactions and producing blocks.
2. Block Production: Elected delegates take turns producing blocks for the blockchain. The order in which they produce blocks is determined by a pre-defined schedule. Each delegate has a specific time slot during which they have the authority to create a block.
3. Rewards: Similar to the PoS consensus mechanism, validators who produce valid blocks receive block rewards in CTK tokens. Additionally, delegates may also earn rewards based on the number of votes they receive from token holders.

Hybrid Consensus Mechanism

1. Complementary Roles: The PoS and DPoS consensus mechanisms work together in the Shentu blockchain to provide both security and scalability. PoS ensures the network's security by incentivizing validators to stake their CTK tokens, while DPoS improves scalability by limiting the number of validators who can produce blocks.
2. Increased Security: The combination of PoS and DPoS makes the Shentu blockchain more resilient to attacks. With PoS, malicious actors would need to acquire a significant number of CTK tokens to gain control of the network. DPoS further strengthens security by spreading block production across multiple delegates.
3. Enhanced Scalability: DPoS reduces the number of validators responsible for producing blocks, which improves transaction throughput and reduces network latency. As a result, the Shentu blockchain can handle a higher volume of transactions while maintaining its efficiency.