NGK global roadshow ended grandly in New York. DPOSS consensus algorithm mining shines bright!
Recently, the NGK global held a grand roadshow event in New York, USA. The guests present included blockchain experts from the United States, Canada, and other countries, as well as the NGK community representatives and many well-known media.
At the beginning of the conference, the U.S. roadshow speaker, Viko shared the NGK’s recent phased results and its future development plans. NGK always puts the interests of users first by continuously optimizing and upgrading its products. The NGK platform will work sincerely with industry partners to create the greatest cooperation and achieve a win-win situation.
After that, the invited guest Mike raised two questions. Why is DPOSS optimistic about it? What is the NGK’s biggest technological innovation? What are the current technological difficulties?
Next, the NGK representative Bob replied: There are four main reasons for being optimistic about DPOSS:
First, fairness. In the DPOSS consensus algorithm, the proof of capacity space is decentralized, and the capacity proof provided by a miner is linearly related to the revenue. If miners want to get more revenue, the best way is to expand the capacity. This mining algorithm allows individual miners and institution miners to mine on an equal basis.
Second, security. A well-designed DPOSS mechanism can resist the malicious nodes with a capacity of less than 51%.
Third, scalability. The DPOSS consensus algorithm uses capacity space to prove that. Therefore, after the hard disk is initialized, it does not require many additional resources to provide the proof of capacity for multiple blockchain platforms.
Fourth, energy saving. The power consumption of nodes that have been initialized and under the process of mining is reduced by the orders of magnitude compared to PoW.
The biggest technological innovation of NGK is that it has redesigned a more advanced DPOSS consensus mechanism compared with projects such as Burstcoin. Each NGK proof of capacity only requires reading a few bytes of data from the hard disk, while ensuring extremely high security.
Then Mike asked again: What is the difference between Polkadot and Cosmos that can send parachains on the NGK engine? What kind of ecology do you think NGK wants to make?
NGK representative Bob replied: The information on the official website shows that NGK was designed to support the parallel operation of multiple blockchain platforms and realize the interaction between chains.
This cross-chain protocol is somewhat different from Polkadot and Cosmos. The chain independence on NGK is stronger. In the first question, the design of NGK can reduce the pressure on the disk of the miner node. Therefore, the NGK system can entirely support the parallel operation of multiple chains at the mining pool level.
I think the advantage of this design is that it can be dedicated to the dedicated chain while reducing the additional energy consumption. For example, the NGKNet itself is based on the UTXO model, and some business logic is more suitable for Ethereum’s account model, so community organizations can develop an account model chain based on the NGK consensus. By distributing and running different businesses to several segments of the chain, instead of using one chain to contain everything, I think this is more conducive to the development of the ecology in general.
