EPoSe (Egalitarian Proof of Service), a new consensus mechanism
PoW (Proof of Work, mining using CPU, GPU, FPGA or ASIC), PoS (Proof of Stake) and DPoS (Deligated Proof of Stake)are common consensus mechanisms used for decentralized networks and a way to provide incentives to the participants in cryptocurrencies.
PoW, PoS as well as DPoS consensus mechanisms are vulnerable to centralization. Please visit the following link to better understand these mechanisms. (https://medium.com/tron-foundation/an-easy-to-understand-guide-to-pow-pos-dpos-consensus-mechanism-and-super-representative-eb1f5504a8e)
Qwertycoin (QWC) organization came up with EPoSe mechanism and is planning to implement upon community’s decision. It is the true realization of egalitarian incentive system in Cryptonote Technology V2.0 whitepaper. (Page 5)
‘Our primary goal is to close the gap between CPU (majority) and GPU/FPGA/ASIC (minority) miners. It is appropriate that some users can have a certain advantage over others, but their investments should grow at least linearly with the power. More generally, producing special-purpose devices has to be as less profitable as possible.’
EPoSe is solo CPU mining consensus mechanism based on participants’ service using a measure of nodes’ uptime. EPoSe mechanism is energy efficient and provides more egalitarian/decentralized environments, while taking all the advantages and eradicating existing problems of conventional consensus mechanisms.
All mining/node rewards will be collected and distributed among qualified node reward addresses after the reward maturity time of 24 hours. This reward maturity interval may change upon community’s decision.
One of the hurdles of EPoSe implementation is the size of blockchain, which can be quite substantial as more blocks are added. For node service providers, the storage capacity can be the limiting factor. To solve this scale issue, QWC will implement a new reference block creation in order to reduce the working blockchain size to a sustainable level and lessen CPU usage for the ring signature verification process.
If you would like to know more about EPoSe and Qwertycoin (QWC), Please visit https://qwertycoin.org and download QWC whitepaper (https://cdn.qwertycoin.org/images/other/btt/QWC-White_Paper-V0.9-U.pdf) for more information.
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Website:
Webpage: https://qwertycoin.org/
Github: https://github.com/qwertycoin-org/
Bitcointalk: https://bitcointalk.org/index.php?topic=2881418
News & Blog: https://qwertycoin.org/blog/category/news/
Mining Pools & Block Expoloer: https://explorer.qwertycoin.org/
Node Map: https://nodes.qwertycoin.org
Faucet: https://faucet.qwertycoin.org/
Social Network:
Twitter: https://twitter.com/Qwertycoin_QWC
Facebook: https://www.facebook.com/422694361519282
Reddit: https://www.reddit.com/r/QWERTYCOIN
Telegram Community Channel: https://t.me/qwertycoin
Telegram Support Channel: https://t.me/qwc_support
Discord Channel: https://discord.gg/U5amwCs
