YGGDRASH MainNet Content #4_ YGGDRASH DPoS Part 2(Article)
Hello, World!
Greetings from Team YGGDRASH.
The Team is uploading the contents regarding YGGDRASH.
As the fourth content, we would like to explain the features of YGGDRASH DPoS part 2.
If you would like to read Part 1, you can follow the link below: https://medium.com/@yggdrash/yggdrash-mainnet-content-4-yggdrash-dpos-part-1-article-c297636ea0eb
In the previous article, we covered Delegated Proof of Stake(DPoS), and the benefits of DPoS. DPoS is a consensus algorithm that the delegates select their representatives by exercising their voting rights in proportion to their stakes and elected representatives will make decisions. EOS and ICON are representative projects using DPoS in their system.
In this article, we would like to introduce YGGDRASH’s insight towards DPoS and the structure.
YGGDRASH + DPoS = !
YGGDRASH is a MainNet project whose core technology is INTERCHAIN. YGGDRASH’s DApps will interact through YGDRASH’s INTERCHAIN technology, RATATOSKR. TPS and stability are important to expand the blockchain ecosystem. Among them, service providers consider TPS as a priority and YGGDRASH will provide faster service performance through DPoS. Stability is also a key factor that should not be missed. Therefore, in the early stage, the YGGDRASH team will elect the representative node to maintain stabilization, and this can be developed that the representative node will be selected through DPoS and more rewards will turn to the YEED holder.
The Structure of DPoS
The voting power of Valkyrie will be provided by the amount of YEED staked to the YGGDRASH network. Voting power can directly affect to the Odin election. If Odins will show their commitment to the YGGDRASH, Valkyries can receive more incentives. In the case of malicious behaviors by an Odin, the Odin can be punished. This is because misbehavior by the Odins will decrease the YEED value.
The rewards ratio is proportional to the amount of the Valkyrie staked. The YGGDRASH team plans to provide a flexible compensation policy ranging from 3% to 20% per year to promote the value of YEED and vitalize the ecosystem. The team is conducting numerous mathematical and economical tests to make this possible.
Odins will perform various works. They are responsible for operating and securing the YGGDRASH network, verifying RATATOSKR. Odin will play a key role in YGGDRASH internal blockchain network and external blockchain network at the same time and will receive more benefits.
The necessity of Community
Blockchain platform exists to operate blockchain services. And the blockchain platform needs community and incentives to encourage them. The YGGDRASH project will provide DPoS rewards to the community.
Official YEED Smart Contract Address:
0xca2796f9f61dc7b238aab043971e49c6164df375
YGGDRASH Official channels
- Github: https://github.com/yggdrash
- Gitter: https://gitter.im/yggdrash/yggdrash
- Youtube: https://www.youtube.com/yggdrash
- Telegram: https://t.me/Yggdrash
- Twitter: https://twitter.com/YggdrashNews
- Facebook: https://www.facebook.com/yggdrash/
- Reddit: https://www.reddit.com/r/yggdrashYEED
