October is an exciting month as the NGK blockchain will be launched! Many people are looking forward to this day!
As the NGK blockchain has always attracted everyone’s attention with its unparalleled advantages, it caused more people hope to use it.
For example, the DPOSS consensus mechanism adopted by the NGK blockchain is recognized by many people for its unique advantages.
1. Voting mechanism
The DPOSS consensus algorithm adopted by NGK.IO is improved on the original DPOS algorithm. The rights are delegated to DAPP developers, so that NGK.IO holders have voting rights. Holders can vote for a good and sufficiently reliable block producer to ensure the stable operation of the NGK network. At the same time, through voting on the proposal, the community can express opinions on specific NGK.IO ecological issues, and even change the mainnet setting and composition of NGK. In this way, through voting, not only can the development of NGK be promoted, but also the assets in the hands of NGK holders can be appreciated. Inspired by the voting mechanism, the enthusiasm of NGK holders has been greatly mobilized.
2. Transaction speed
DPOSS combines the shared governance characteristics of the blockchain with the trust characteristics of the alliance chain. In addition, DAPP ecological service providers are empowered by the main chain ecology, thus achieving a block generation interval of 500 milliseconds.
The NGK blockchain distributes 21 block producers and assigns 21 block producers’ responsibilities. Block producer generate new blocks and confirm transaction data in turn has speed up the transaction confirmation where it only takes 1 second to complete the confirmation of thousands of transaction data. Therefore, the NGK blockchain has decentralized performance at the same time as each new block is generated. This ensures that all transactions in the transaction contract cannot be tampered with and rolled back.
3. Prevent forks
The DPOSS consensus algorithm has strong anti-forking ability. Under normal circumstances, the DPOSS blockchain will not encounter any forks, because block producers will not compete, but cooperate to produce blocks. At this time, if the block producer has a fork, the consensus will automatically switch to the longest chain. At any time, when an honest block producer sees a valid longer chain, it will switch from the current fork. At this point, if a block producer manages to generate blocks on two forks at the same time, the holders of NGK.IO will delete the malicious block producer in the next round of voting, and the certain penalty will be given to the malicious block producer by the NGK.IO community.
4. Low threshold
NGK users can create accounts at a lower cost or even for free, which in turn reduces the user’s capital cost. In addition, NGK uses a decentralized consensus algorithm. Under this algorithm, anyone can choose to participate in block production and have the opportunity to produce blocks as long as they persuade the coin holders to vote for them.