NEO Will Soon Go Through Decentralization Process. Elections Will Be Starting Soon. Similar To How Steem & EOS Work With Some Differences.
https://neo.org/blog/Details/4086
Voting should start over the next month.
NEO uses consensus algo DBFT (Delegated Byzantine Fault Tolerance).
From what I understand anyone with 1000 gas can run a seed node. One key differences is that NEO can have many different super nodes going at the same time, not just 21 like in EOS.
I am going to have to do more research on the precise details how DBFT works.
You can see here at least 12 or more different nodes are currently verify transactions. Once voting goes live this should increase exponentially. Hence, the word - NEO Decentralization.
This is could be a very big event for NEO. From what I understand this will also increase gas payout and reduce block times, which further increases scaling.
Some very interesting dapps being created on NEO. I remember this time last NEO had 0 live dapps now there is many. I believe good quality ones. It cost around $20K+ in gas to launch dapp on NEO so eliminates a lot of scams that would never pay up the initial fees.
Dapps outside of Ethereum (chart below), NEO has growing dapp list. Aion also very impressive with Institutional dapps linking private chains to their public.
Ontology and Elastos both using NEO Virtual Machine, which could add significant value in future. Ont is very impressive project dealing with ID's. Linking blockchain to real organizations, potentially linking much of the real world economy to open blockchain instead of closed off centralized data bases.
Please correct me if I am wrong about any details on DBFT. If you would like to add any additional info about NEO's DBFT or upcoming decentralization please do so in the comments.
NEO is picking up speed and THIS is pretty big news in my opinion. I am going to have to pick up some more GAS so I can get to that 1000 limit for a seed node.
Are you thinking about doing the same thing?
Probably so.
Do you know anything about the rewards for running a super node?
I don't know those details.
Allright thanks anyway, interesting stuff for NEO coming up!
I will try to find out.
Just wanted to mention that both EOS, Steem and NEO are all using delegated proof stake to transaction blocks Ethereum currently uses proof of work similar to Bitcoin but plans to transition into a full proof of stake version with sharding and algo known as Casper (a form of POS). Coins like Dash and SmartCash use POW to secure blocks but have a 2nd tier system built out to do special functions such as instant send, voting, staking rewards payouts for holding and the big one is for funding. Dash and Smartcash have self funding built into the block rewards, which gives them large budgets to develop and market community. Even in severe down turn lately Dash has something like $3 million a month to work with.
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I will be aware of those votes I think it would be interesting to be part of these changes! So thank you for the information:D