CROWDWIZ WORLD DECENTRALIZATION

Crowd Wiz World Block-chain also called CWD Block-chain is an open source, decentralized block-chain that runs on the delegated proof of stake consensus. Crowd wiz world took the bitshares block-chain and added some features to it to make it better. The bitshares block-chain was the first Delegated proof of stake block-chain.

Role of Consensus

Consensus is what allows decentralization to be possible, All the transactions that occur on the block-chain is packaged up into a data and placed in a block, this block is then added to other blocks that had been created prior, creating a block-chain. Before any of these transactions occur on the block-chain, they have to be verified and approved so as to prevent fake or double spending. Consensus mechanisms handles this whole process of verifying and approving transaction, writing them into blocks leading to a block-chain.

Proof of Stake

roof of stake block-chain is one of the popular crypto consensus mechanisms, it stripped away the high computational and hardware resource required by proof of work. Validators as they are called in proof of stake consensus perform the same functions as Miners in proof of work. They perform the tasks such as verifying and approving transaction, writing them into blocks leading to a block-chain. Anyone can be a validator on proof of stake with the requirement that they have skin in the game by putting up a stake in the form of locking away the native token of that block-chain. It’s insurance that validators act well or they lose percentages of their stake. Validators earn rewards in transaction fees.

Delegated Proof of stake

Delegated proof of stake adds onto the proof of stake by allowing other users in the ecosystem to also participate by staking their tokens to any validator of their choice, this allows increases the decentralization of that block-chain because it’s not just the validator stakes participating but other users stake, and it also allows users to select validators of their choice to stake with making it sort of an election process as this user can switch validator when they like. Validators are rewarded the same way as proof of stake and users who delegate their tokens to validators are also rewarded.

Features of CWD Block-chain

• It’s built in a way that allows new features that have been tested by core developers and approved through governance be easily added to it. The CWD Block-chain runs in a way where every component runs on its own and adding new feature wouldn’t affect any other component.
• It’s able to scale up to 100,000 transactions per second and more with slight tweaks
• The CWD Block-chain public address comes in 2 formats, The regular string of characters and numbers and an easily customizable name created by the user. So rather than inputting a public address as ‘0x43f54e4……..’ , it could be written as ‘steven’ or ‘diana’ or ‘any name you like’
• Allows for messages to be sent from one user to another, and this messages are encrypted. Imagine being able to send an ‘ I love you’ with the block-chain or in a transaction.
• Referral program up to eight levels of referral, meaning you still get rewarded after the person you referred, referred another person who referred another person, till the 8th level with you being the first

$CROWD

Being a block-chain on it’s own, it requires native currency that is used as fuel to power transactions, rewards to validators and one that captures value from protocols and activity in the ecosystem. This native currency is $CROWD. With a total supply of 10Billion coins, it’s also used as governance, staked by participants in the ecosystem and required to participate in games.

There are two other tokens in the CWD ecosystem that perform certain tasks. Which are the Gold Crowd Token ($GCWD) with a 21 thousand max supply that rewards it holders every 1 minutes based on activities involving $GCWD and MilliGoldCrowd ($MGCWD) with 1 million maximum supply rewarding its holders just like $GCWD based on activities that involves the token.

Applications live on the CWD Block-chain

• Decentralized exchange where tokens such as $CROWD can be purchased amongst many others.
• Decentralized gaming zone, that allows users to play and earn
• Decentralized Loan system
• Peer to peer enabled exchange
• An application that allows any user to generate and issue their token easily

Basically CWD Block-chain is an open source, decentralized blockchain that runs on a delegated proof of share consensus.

Thank you for listening to my explanation about CWD, for more detailed information please visit the link below:

Website: https://cwd.global/

Medium: https://cwd-global.medium.com/

Twitter: https://twitter.com/cwd_global_dao

Instagram: https://www.instagram.com/cwd.global.official/

Facebook: https://www.facebook.com/cwd.global.official

WhitePaper: https://github.com/crowdwiz-biz/whitepaper

Author

Medium: https://medium.com/@girjikoke

My proof of Authentication: https://bitcointalk.org/index.php?topic=5401670.msg60421252#msg60421252