What is the NGK mechanism? The characteristics of NGK consensus mechanism?
It is widely known that blockchain is a distributed network with many nodes on it. Both blockchain transactions and data are written to this distributed network and stored on these nodes. How to write information on multiple node servers? At this point, a mechanism is needed to specify the rules in advance, and when storing data, follow this rule. This rule is implemented by algorithm. This rule is called consensus mechanism, also called consensus algorithm, which is the core mechanism of blockchain.
For the blockchain, the consensus mechanism is the key to the blockchain. Different blockchain uses different consensus mechanism, everyone is no stranger POW, POS, DOPS, corresponding to solve different problems. An impossible triangle problem has always been a blockchain to solve the problem, the market can achieve a balance between the three blockchain is very few, NGK blockchain is one. The focus today is on the NGK consensus mechanism and what features it has.
Prior to introducing the consensus mechanism of the NGK, we are familiar with the characteristics of the next DPOS,DPOS. The advantages are low energy consumption, fast confirmation speed, but there are also shortcomings, block producers are vulnerable to destruction, currency holding is easy to produce monopoly. Therefore, NGK the consensus mechanism is to upgrade the DPOS technology and adopt the DPOSS consensus mechanism.
For the situation that the block producers are vulnerable to destruction and the currency holding is easy to produce monopoly, 21 block producers are NGK selected to negotiate a block ownership order based on their own network resources. when the block producer produces the first new block, the block producer signs the block and broadcasts it to other block producers. the other nodes sign it after verification and return it to the node. when the node receives the blocks signed by other different nodes, the block has irreversibility. The election of block producers not only ensures the control of the network by token holders, but also reduces energy consumption.
In addition, when each block producer has an output block ,12 new blocks are continuously generated at an interval of 500 milliseconds, and then switched to 12 blocks after the next block producer is continuously generated. 21 block producers take turns out blocks 24 hours, can reach average 3 seconds/block, single transaction can reach 1.5 seconds confirmation speed, DPOSS consensus mechanism to achieve greater performance improvement.
Regarding decentralization, DPOSS consensus mechanism will block producer power under, let the DAPP developer take the responsibility, can not only stimulate the developer enthusiasm, but also promote the DPP ecological development, more in line with the blockchain sharing, co-governance decentralization management concept.
DPOSS consensus mechanism realizes the balance between decentralization, extensibility and security. It has the characteristics of decentralization, increasing transaction speed and reducing energy consumption. The DPOSS consensus mechanism allows the NGK blockchain to support tens of thousands of commercial distributed applications running on the chain at the same time.