What is NGK block producers, what are its rights and obligations?
the star blockchain project NGK this year is about to shock the main, many people also began to ask about the content of the NGK block producer, today I would like to introduce it to you, what is the NGK node, and what are its rights and obligations.
In order to take the performance into account, security and decentralization of the network, NGK network needs 21 block producers to participate in the maintenance of the governance NGK network together, and a distributed block producer election algorithm is proposed. A total trust index including reward penalty factor and time attenuation factor is added to the node as an important reference for the selection of block producers, so as to quickly complete the block producer election.
As to incentives, NGK network rewards 95% of the resource consumption of the whole network to block producers, and the remaining 5% accumulates to Worker Proposal rewards to NGK DAPP technology developers and application development contributors. As a block producer, institutions can earn resource consumption rewards in the process of maintaining the network, but also have the opportunity to obtain Worker Proposal rewards through the development of applications.
The 21 block producers are temporarily run by the NGK.IO’s official foundation to ensure the daily operation of the NGK network when there is no community capable of block producers. In each round of block out cycle, each block producer turns out the block. When a community gradually starts running for a block producer, the official block producer exits in turn, but still retains three official block producers.
In the block-chain network running often, the restriction to the node evil situation in the network also can not be ignored. Such as the 2018 EOS version of a FOMO game, only less than a week of operation was stolen 60996.4190 EOS, after investigation, a number of clues pointing to a malicious block producer in the EOS network that caused huge loss of investors to lose money.
To limit the occurrence of malicious or incapable block producers in the NGK network, NGK network defines the four state assessment levels for the block producers and determines the permissions of the nodes accordingly. As the state of the node is converted to Error, it will no longer have any permissions, and then it will be locked as a revenue within the time period of the proxy node, and it will be removed from the proxy node, no longer eligible for the campaign proxy node. NGK the penalty mechanism in the network is mainly aimed at the agent node whose state is Error, the cumulative number of invalid blocks of its output exceeds the standard fixed value, so it can be identified as a malicious node, NGK network will carry out punishment measures against it. All decisions and execution in NGK networks are determined by public voting or smart contracts in the network.
The block producer maintains the operation of the NGK network, helps the ecological development of the NGK, increases the value of the token, feeds the block producer back, and realizes the win-win cooperation between the node and the ecology.
