Futurepia’s BP works on the consensus algorithm called ‘Dual Delegated Proof of Stake (DDPoS)’.
In order to better understand the 4th Generation of Blockchain, or DDPoS, let’s first discuss the progress of blockchain technology. n
PoW forms the foundation of Bitcoin’s block production algorithm. In PoW, there are miner who have high-tech equipment. They use this equiment to solve mathematical problems. Once the equations are solved, miner publish the solution to other miners and if 51% of the miners agree on the answer, a consensus is reached and the new block is added to the chain. The miner who solves the problem first gets a compensation fee as a reward from the network.n
In POS, instead of miners, there are validators. The validators stake some of their tokens in a specific wallet address for a set period of time. Following that, the validators bet on the blocks that they feel will be added next to the chain. When the block gets added, the validators get a block reward in proportion to their stake. The more tokens you own, the more block creation power you have.n
DPoS follows original PoS consensus model with improved speed, but it compromises the security. DPoS can be considered as a form of representative democracy in a blockchain where coin holders vote to select delegates also called ‘block producers.n
DPoS processes transactions faster than both PoW and PoS, yet DPoS has certain flaws in terms of security. It is not as decentralization. In DPoS, 21 block producers participate in the block production but because the BPs are exposed and the number of votes are quite small, this algorithm leaves the BPs vulnerable to attacks from hackers. n
" DDPoS is a new consensus algorithm that can provide greater speed than previous PoW & PoS algorithms and superior security than previous DPoS method algorithms. The main features of DDPoS are:"n
— To avoid the risk of collusion or potential attack against certain BPs, the block observer (BO) systems was created. During each round, 4 new Block Oberservers are arbitrariliy chosen to ensure a certain amount of diversity is present within the delegate proof of stake system.n
— DDPoS works with 21 BPs out of which, 17 are Master Nodes and 4 are randomly selected Block Observers.
— Because there are 21 definite block producers that produce a block every 3 seconds, it takes 63 seconds to determine irreversibility.
— For a transaction to be stored on the blockchain, 11 out of 21 BPs need to agree.
Futurepia is a public mainnet focused on allowing DApp developers to quickly and efficiently deploy their DApps. The advantages of selecting Futurepia will result favorably with quick setup, lower transaction fees, and interoperability of tokens with other DApps inside the Futurepia ecosystem.n
Estimated time : 30 - 45 days Estimated cost : Down payment of 100 million KRW (USD 85,000) 20% of the total coins issued, Maintenance costs TBD
Since BPs participate in the block production, they are required to have minimum infrastructure and sufficient resources to supply the infrastructure required to facilitate the proper functioning. Below is the table
"Futurepia also provides a customized mainnet option where the private mainnet is customized as per the needs of clients. Customized Mainnets are for businesses or enterprises (banks, insurances, government institutions etc.). Using Futurepia’s DDPoS algorithm, the number of Block Producer (BP) and Block Observer (BOP) can be adjusted according to the customers’ needs."
For example,) 17 BPs + 4 BOs = 21 nodes (can be adjusted to meet Partner needs)
- Other services offered: Node management, BP/BO operation management, services and connectivity support
Estimated time : 30 - 45 days Estimated cost : Down payment of 100 million KRW (USD 85,000) 20% of the total coins issued, Maintenance costs TBD
Sigmachain has extensive experience in developing a social media based DApp, called SNAC. SNAC creates a tokeneconomy using tokenized features to reward users. SNAC has a DAU of 15,000+, in over 40 countries and operates on both Android and iOS (website version also available).n
Various features of DApps
PASTA (PIA Alliance Standard Token Agreement) is a technical protocol used for all smart contracts on the Futurepia blockchain
