CREA 2.0 change of algorithm info

in crypto •  last month

crea2.jpg

In CREA 2.0 the consensus algorithm will change from POW to DPoS.
The distribution of CREA will be different including a system of Witnesses elected by the community.

In DPOS, the stakeholders can elect any number of witnesses to generate blocks. A block is a group of transactions which update the state of the database. Each account is allowed one vote per share per witness, a process known as approval voting.

Each time witnesses produce a block, they are paid for their services. Their pay rate is set by the stakeholders via their elected delegates (to be discussed later). If a witness fails to produce a block, then they are not paid, and may be voted out in the future.

How DPoS works?
https://bitshares.org/technology/delegated-proof-of-stake-consensus

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