THE DELEGATED PROOF OF STAKE

The delegated proof of stake is an algorithm with the main aim of providing security for block chain by making sure to represent the transactions that are within that block chain.

The maintenance of the delegated proof of stake is by the election process, the delegated proof of stake is an evolution from the popular proof of stake. Users of the delegated proof of stake are given the privilege of voting delegates who will be verifying the next transactions.

To vote for a delegate, you stake your tokens in a staking pool via staking service providers and not necessarily having to make use of a physical transfer to another wallet.

The job of the voted delegates is to take care of the system, although there are responsible for governing the system, they do not have the right to the production of blocks and also do not have the right to validate transactions carried out in the system.

Their jurisdictions are to transaction fees, the size of blocks, the block intervals of the network, the payment of the witnesses. The delegated proof of stake practices democracy as the verifier for the blocks are dependent on the votes of the users.

Every node in the block chain network can vote according its stakes and pick its approved node in the traditional delegated proof of stake process.

The witness node is the node that takes an interest in the election of the witness nodes and receives the most number of votes in the top N. Accounting permissions are approved to the nodes in the witness node list, permitting them to create new blocks one by one.

Each election cycle, the witness nodes will be re-elected. The trust model and ring signature method are remembered for our proposed DT-DPoS algorithm to further develop the consensus cycle.

The wellbeing and privacy of testimonials are worked upon and improved, the danger of collusion assaults is reduced to the barest minimum and security is provided for block chain systems.

RICARDIAN CONTRACTS ON THE EOS BLOCKCHAIN

The ricardian contract is actually a digital agreement between two parties, these digital agreement is machine form and can also be read by humans, the ricardian contract possesses the feautures of a regular legal contract or document which includes the intensions of the parties, their terms and conditions, and also the smart contract actions.

In the ricardian contract, whenever the actions on the smart contracts is executed, that agreement is signed and verified with a hash, and this process happens whenever an action takes place, before a ricardian contract can be linked with the our actions we will need to create what is referred to as a mark down file, the mark down file must possess the same name with the smart contract.

EXPLORING THE OFFICIAL EOSREX INTERFACE

Haven gone through the official website for EOSREX, I will be sharing my experiences or observation about the website. The site is user friendly and easy to understand by anybody including those who are visiting the site for the first time:

1.First things first as always, login to the official website of EOSREX through your pc or mobile phones.

2.Once you login the website, the first thing you might notice is the menu option, by clicking it, you will see the dashboard, the wallet, REX, powerup, manage CPU/RAM, manage keys, vote, create account, Bio name, alert and trade your token

3.Also we have the wallet, the event and the tools at the top of the screen, after clicking the wallet option, youll see where you can link your account with the wallet. Those three are circled in red on the image below.

4.The area marked with blue is the transition chart and it is updated every 5 sconds. This tells us the number of transitions that are taking place.

5.We also have the search bar, where you can input the account name, block, transaction etc, anything that is related to the site can be searched using the search engine

6.On the right side of your screen you will see the details about the EOS price, the market rank and also other related details and it is marked with green on the image above.

On scrolling down you get to see more features on the EOSREX interface, features like;

1.The live TPS and the current block count, thes two are circled in red on the image above

2.This part displays all the informations on current EOS wallets , stacked and unstaked EOS, voters , Ram usage and CUP usage and that is the part I circled in green.

3.The part circled in blue contains the block producers where you get to see all the blocks, there is the chain alert, the trading alerts, the proxies, transactions carried out, recent blocks, top accounts, market cap and other features in the part circled in blue.

4.For the part circled with purple this is where yoy can search any block whether it is live or not.

Then the last part circled in orange contains the block list and this list continues all the way down.

DOWNLOAD AND EXPLORE THE SQRL WALLET AND EXPLAIN HOW THE CPU, RAM AND NETWORK CAN BE OBTAINED

To download/create the Sqrl wallet, the following steps/images were steps that I followed;

i.I made a visit to https://github.com/Telos-Foundation/Sqrl, I downloaded the software from this site.

ii.After downloading the software, I installed and created a sqrl wallet as shown in steps below in image.

CPU:The CPU is used for the execution of transactions. Since EOS is free to use this only come into play when the other features want to use their space.

RAM: A RAM (Random access memory) is a Permanent storage data that need to be retrieved quickly and often like keys and balance in your storage space.

Network: This refers to the amount of data that can be sent per time from one point to another point. As a token holder, staking coin engines you to a corresponding amount of CPU and NETWORK, collectively known as bandwidth.

Open eostools.io and click on manage account then manage stake:

1.To add to the Ram, the following steps should be adhered to;

2 After you must have login the website, click on manage account

3.Then click on manage RAM option
After you click on manage RAM, click on purchase

THE PRESENT PRICE OF REX AND WHAT REX IS USED TO DO

The price of REX as at the time this article was written is 0.0107971 USD.

When we talk about REX we are talking about a virtual currency that was designed to store and transmit values, another virtual currency that has the same characteristics as REX is the HEX, it provides us with a more accurate and higher rate of result that our conventional certificates of deposit and immense flexibility.

The users can tag their stakes so as not to lose track of its use, a stake for instance can be tagged academic plan, this enables the user to remember what the stake was kept for after a period of staking.

REX is quite flexible as it allows the users or stakers as the case may be to divide their stake into stratas should in case they may have need to transfer their stakes to a different address, for instance if the reason for staking is to give to someone as a birthday gift, then it will have to be transferred into the account of the person you want to gift it to.

CONCLUSION

I strongly believe that the essence for this write up was met, haven learnt what the delegated proof of stake is , also what the Ricadian is and lastly the Sqrl wallet, it is of importance that we note in addition that REX CAN be loaned out as a means of generating income.

Thank you for reading my post

@steemcurator02
@pelon53