Waves Platform New Protocol to Eliminate Spam Tokens

The developers of Waves blockchain platform presented the version of protocol 0.13.3, in which they improved the Proof of Stake algorithm (PoS). Among the updates is the possibility of “burning” tokens and a new mechanism for paying out the miner’s remuneration. As reported by the developers, the new version of the protocol equates the opportunities for the formation of new blocks between small and large miners. The PoS algorithm calculates the remuneration paid to the miners, depending on their WAVES balance. However, in reality, large mining companies were much more likely to create new blocks. The new “burning” function will also make it possible for users to remove spam tokens.

“One of the important updates to the protocol is the launch of sponsored transactions. After they are activated, issuers of tokens will need to make a deposit in WAVES. These tokens will be sent to pay for the work of the miners. For the processing of the transaction in the network, the miners are paid in WAVES, and the amount proportional to the assets will be returned to the accounts of the issuers”, emphasized the representatives of the developers. Also, in the new protocol, there is an opportunity to conduct data transactions. The commission for these operations is calculated in proportion to the size of the transaction.

http://cryptoconsulting.info/2018/news/waves-platform-new-protocol-to-eliminate-spam-tokens/