Access Management on DPOS Blockchains and keynotes To Observe

Network Access on Blockchains and How this Works

Blockchains adopt real-time voting combined with a social system of reputation to achieve consensus. Every token holder wields some level of influence about what happens on the network.

It will also interest you to know that active delegates are voted into their roles by token holders. The voting power that the token holder has, otherwise known as voting weight, is determined by how many of the base token the account is holding. It is quite pertinent that the delegates are picked with the interest of the network in view as they keep the network running effectively and efficiently.

On the Network, a delegate might need to reaffirm dedication by depositing his funds into a time-locked security account (which is confiscated in case of malicious behavior). This version of DPoS is often referred to as deposit-based proof of stake.

How Delegates Take on Roles

The roles of delegates cannot be overemphasized. Their roles entail ensuring that their node is always efficient and safe, running up and down. They are also charged with the duty of collecting the transactions across the network into blocks and signing and broadcasting those blocks. Their work also includes validating the transactions. If there are issues regarding consensus, DPoS allows these to be resolved in a fair and democratic way.

However, delegates do not have the luxury of power to change any transaction details. But being the validators, they have the power to theoretically exclude certain transactions in a block. Nevertheless, this does not have adverse effects as the next created block will include these transactions, thereby giving the next delegate the fees associated with validating them. Invariably, the transactions will only be slightly delayed.

Furthermore, this would result into an unfair situation of a delegate getting voted out by the rest of the network. More importantly, a DPoS network is self-governed; it is typically policed by all its participants in order to facilitate the best interests of the network.

Interestingly, DPos is a more democratic system steeped in efficiency and effectiveness. The selection of block producers facilitates the validation of transactions in a short period of time like a matter of minutes unlike the ten minutes it takes the proof of work system employed by Bitcoin

Scalability on DPoS

DPoS is designed to be a more efficient form of PoS consensus. It specifically focuses on scalability. It can offer reliably confirmed transactions on the network in a very short period, I mean seconds. It is capable of scaling to levels among the highest of any current consensus mechanisms. The system is built around a reputation and real-time voting process in order to facilitate consensus. The stakeholders always have the power to vote on adding or removing block producers. However, the voting is predicated on their reliability and courses of action. The basic duty of the block producers is to validate and propagate blocks and make sure that there are no double spends. The amount of block producers is subject to change by the stakeholders at any time. This ultimately spurs the producers on to act honestly within the system because if they choose to act maliciously, their actions will be displayed publicly, and they stand the risk of getting rid of.

More importantly, the process for reaching consensus can be simplified into the following basic steps:

Stage One
: Block producers are selected by the stakeholders in a round of voting. As soon as the producers are selected, they are deterministically given a round-robin rotation for a round of blocks which are equivalent to the number of producers selected. This invariably brings about a competitive market within the round, ensuring reliability.

Stage Two
: Block producers validate and broadcast blocks to the network.
Consensus is reached, and the next round begins.

Stage Three: block producers receive a reward. If they do not produce a block, then there is no reward and the reward is transferred to the next block producer if a successful block is produced. Producers do not have the ability to change transaction details, however, they could collude to prevent specific transactions from being included in blocks. Acting in this manner would most likely get a producer voted out, costing them economically and tarnishing their reputation.

Furthermore, reducing the conditions for maliciously acting miners can easily be implemented and their prevention of certain transactions from being included into blocks will not work in the long run as the transaction would eventually be included in a block produced by honest block producers.

DPos is basically designed to make an optimal use of the nominal condition of 100% honest node participation, even in the face of high and varied failure conditions. For instance, the longest chain will be the chain endorsed by the biggest majority. Even if most of the nodes are ganging up to act maliciously which is quite unfeasible and unlikely. At this point, the stakeholders would notice a reduced node participation in block validation by the producers (i.e. 70% instead of 100% because 30% are honest) and would vote to remove the current set of producers.

The fact that stakeholders can vote and get rid of producers at will has great consequences on the system design. And this is a very important security feature. Block producers are not vested with real power.

As a result of this, their participation is determined and controlled by the stakeholders. Well, in some cases, users even delegate their votes to another to vote for them in a process known as “proxy” voting. Through operating in a more traditional hierarchy system but with the benefits of blockchain transparency, stakeholders can exert much more control over the network and the result is a much more flexible network.

As a matter of fact, DPoS consensus models make informed trade-offs between scalability and decentralization. Since the cost of decentralization is high, it becomes the key limiting factor to scalability in platforms such as Bitcoin and Ethereum. DPoS concerns itself with scalability by facilitating a very central environment where the centralized components (block producers) that validate and propagate consensus are transparent, identifiable, and removable by the larger voting stakeholder community.