With the Delegated Proof-of-Stake consensus algorithm, many Blockchains are deemed to be pioneering blockchain solutions for the problem of scalability. However, because of the small number and the unchangeableness of Block Producers, EOS, for example, has come up with rumors that the system is manipulated by sharks and whales. Eventually, rumors have come true when the Huobi scandal was out. It seems like not only did Huobi buy votes from small token holders by issuing HPT token, the exchange also colluded with 20 other Block Producers to vote for each other.
Another problem that DPoS-based Blockchains are running into is that they encourage the richest ones staking the largest number of tokens, instead of the ones most contributed to the performance of the business ecosystem, to control the network. At
Umbala Network, we question ourselves that how the gap between the Blockchain world and the real world can be bridged if real applications on Blockchain are still kept away from the chance to control the network? They serve the system by enriching the ecosystem and the Blockchain industry by creating real-life applications, thereby deserving to be empowered to be Block Producers.
What do you think of a new consensus algorithm that empowers real-life applications to be Block Producers while still ensuring the high scalability and the decentralization of Blockchain? We, at Umbala Network, have been developing such consensus algorithm. Her name is 108 Delegated Proof-of-Reputation (108 DPoR). The testnet, with 108 DPoR, will be launched in a few months The heart and soul in our 108 DPoR are
the Reputation Scoring System for all accounts in Blockchain and
the Reputation Voting mechanism. The formula to calculate Reputation Score of each account is composed of 3 variables: How large the number of staked tokens and how long these tokens remain staked; Quality of Transactions; The Usage of Allocated Resources (most influenced). This structure is designed to help effectively-operate applications to have the highest score.
With the Reputation Voting, votes’ strength is determined by the Reputation Score, not by the number of staked tokens like in Stake Voting. By that, we encourage high reputation accounts that effectively and actively contribute real values to the business ecosystem to be the controllers.
There will be 45 accounts playing the role of Active Block Producers. When
the mainnet is launched at Q2 2019, our performance-focus
Umbala Network Blockchain is expected to reach
TPS= 10K - 1M, Blocktime = 1 second, Epoch time = 135 seconds and Transaction fee = Zero.If you are interested in our new idea, just drop a comment at https://medium.com/umbalanetwork/9b48f0f3ba2e and we'll discuss further on the topic.We are from
Umbala Network team and we would love to meet and talk with any friends have the same vision to make Blockchain applicable in real life
Cheers
Images
- See the details of 108 DPoR: 
- Our CEO Don Thao Nguyen talked about 108 DPoR at Junction Hanoi - the Europe's biggest hackathon came to Vietnam for the first time: 
