(E)ventual (C)onsistent Consensus.
Consider 4 nodes, described as N1, N2, N3, N4, having staked 1, 2, 3, 4 TK respectively.
Total system stake is 10, with weightings 10%, 20%, 30%, and 40%. Soft majority at 51%, finality assumed at 67%.
At the start of a round the weightings are finalized.
- N1 processes Transaction 1 denoted as Tx1. Tx1 has 10% weight.
- N1 uses gossip to propagate Tx1 to N2 and N3. Tx1 has 60% weight (soft majority achieved).
- N2 propagates Tx1 to N4, 100% weight. Tx1 is finalized.
By virtue of having been processed by 67% of stake of nodes, we can consider a transaction finalized.
All nodes become eventually consistent. This further allows for asynchronous processing of events.
A round will include the starting stake of all participating nodes. And all transactions finalized in the round.
This round is replayed on the input state with state transition transactions to create the zero knowledge proof. The proof along with the current merkle root output is the current state.
No blocks, and no single state processor. Nodes participate in an eco system to benefit financially. Each round will have a fixed reward as well as accumulate all fees. Reward and fees are distributed proportionate to all participating nodes of the round.