How does NGK.IO improve EOS consensus?
NGK.IO is a blockchain system in the blockchain field designed to apply the power of blockchain to build a digital economic empire. So how does it plan to run the entire blockchain? What is the distinction between its DPOSS mechanism and the EOS of adopting DPOS consensus?
Firstly, at the technical level, NGK abandoned the verification method of extensive nodes, and adopted the mechanism of DPOSS( block producers computing power) to block out 21 block producerss, and adopted the system to reduce the possibility of cheating of the main nodes. This is the most feasible way to improve performance at present.
NGK Consensus Mechanism
Achieve mining through block producers computing power, mining reward is used to promote the blockchain ecology, build NGK into a value network through the continuous users accumulation in blockchain ecology, and users are the pioneer of the NGK network, this is a digital ecology connecting developers, merchants and users, the model architecture innovation creates no bubble in NGK blockchain projects, which only needs to create the application scenario, the supply and demand scenario and transaction scenario of the token, to deepen the network coverage of the blockchain, and truly promote the three-party win-win network ecology.
Although the vitality of the previous DPOS blockchain came from the community consensus, the decentralized community formed resistance in the operation of nodes instead. With BTS and EOS as the representative, the high cost of community governance has become the main obstacle to the progress of the blockchain.
NGK avoids the pressure of community governance in the early stage, and employs the first to set up block producerss out of the block, build the blockchain infrastructure, and then ecological governance to build, complete the orderly promotion of business models.
NGK abandons the usual rules for ETH to charge gas fees and opened them to all public-chain participants and developers free of charge, saving BD costs substantially.
The second is the STO issue form, the parent company behind the NGK, USA International Covenant INC, or UICI Group, with more than $3.4 billion in funding endorsement, its Global Investment Committee launched 15 project funds, operating in Europe, the Americas and other places.
Lastly, the NGK blockchain operates in double coins, on the one hand issuing its own credit Token (native) NGK, injecting eight ecological application scenarios in the form of anchoring economic assets: new energy, biotechnology, sports, finance, red wine, entertainment, data and real estate, and realizing the unity and integration of various commercial subdivision areas.
Smart contract issuance Anchored US Dollars
On the other hand, the issuance of their own stablecoin USDN, as exchange with the NGK, stabilizes the existence of the entire economic system. Its price is stable at about $1, through the market supply and demand to achieve price stability.
Stablecoins are issued when higher demand for stablecoins causes their price to be greater than the anchored dollar (E>1) and destroyed when lower demand for stablecoins causes their price to be smaller than the anchored dollar (E>1).
As a result, the circulation of the market determines the circulation of USDN. Since NGK is the original tokens of the blockchain, users can trade freely in the market, and with the increasing computational power, and the capacity of tokens is indeed limited, thus NGK tokens will continue to increase in value to meet market demand, and the circulation of USDN will rise steadily.
All in all, the NGK.IO DPOSS consensus mechanism inherits and develops the DPOS, to make the whole economic system a stable positive rising system by adopting the way of issuing, setting up the blockchain infrastructure in advance, using the block producers in block production and dual currency operation.