GPoS Consensus Mechanism
GPoS Consensus Mechanism
GEMMA Proof of Stake (GPoS) consensus protocol
GEMMA's proof of stake is a variant of the proof of stake consensus form with a kind of regularity governing the creation of GEMMA tokens and its own network. This is based on a deterministic algorithm, and in principle, the validators of the block are elected according to the characteristics of the stake. GPOS compensated for the shortcomings of existing blockchain technologies in terms of speed and security.
Validators: They take the charge of building new blocks, taking care of the networkβs infrastructure and maintaining it. They are the sole parties responsible for assurance of finality and security of the network which is regarded as expensive operations. Not only is their job difficult but they also suffer financial loss when they donβt follow an ideal protocol. They are obligated to stake their GEMMA token (GMA) which is a native token of GEMMA Blockchain to guarantee good conduct. Their stake gets slashed when they violate the protocol and multiplied when they follow the rules.
The Election Process
The GEMMA Blockchain is one of the GPoS-based projects that will grant equal influence and authority to all the chosen validators who will contribute to consensus protocol.
We will denote a validator with symbol ΞΌ and the probability of the same to be selector will be denoted by π.
Now suppose that validator ΞΌ has a stake in the blockchain pool. The probability that ΞΌ will be elected as a block producer is directly proportional to its stake.
π β Ο
Also the probability of a validator to become selector will be inversely proportional to the sum of all the stakeholders in the blockchain pool.
Hence, this will be the general formula to calculate the probability of any validator to become a selector of the block production.
Illustration of the above could be:
Where in,
Vi is any i^th validator.
P is the probability of the validator to become a selector.
Stake of () function returns the corresponding stake of the validator Vi passed as a parameter.
Let us suppose that we have 4 validators in the pool {A, B, C, D} and their stakes in the pool are {20, 40, 30, 10} respectively. Also letβs say we have 10 slots for the block production in the blockchain.
The ratio of the validators to produce blocks will be 2 : 4 : 3 : 1: 1
The blocks generated by the validator can now be arranged in the following manner:
The total number of arrangements that will be possible can be calculated using:
Validators
Validators can get annual returns depending on the GEMMA token they stake. Validator responsibility is to add a new block to the blockchain.
Through this process, the validator earns a new GEMMA token. The more validators join the network, the lower the annual return will be. You will get penalized or get slashing if an invalid transaction is validated accidently or if your computer remains offline for a specific period and your stake goes below a certain GEMMA token. In the worst scenario, the validator will be kicked out of the network entirely.
pBFT consensus algorithm
pBFT is a practical algorithm implementation method of BFT. It is said that if there are f Byzantine nodes, Network N, which can solve the Byzantine problem, must contain 3f + 1 nodes. This is known as a deterministic method in which blocks are necessarily generated as the minimum number of nodes. There is a disadvantage in that there is no other way to know whether the node is Byzantine than to detect the response of the node.
This includes the process that nodes participating in the consensus algorithm may participate, stop participating, or maliciously interfere with participation. This means that it is a Byzantine node in such a way that the response of the node does not come, comes late even if it does, or delivers completely wrong results.
First of all, the node's answer attempts to convey a completely wrong result can be immediately confirmed by the type of message delivered for each stage of pBFT and the verification of each message. Therefore, if the wrong message arrives, the node can be blocked from the next message or excluded from the consensus process (but not by default).
In addition, if the response does not come, it can be considered the same as the message coming after the consensus process, so you can set the response timeout of the node and conclude that the node that sends the response later than that time is a Byzantine node.
GPOS distinguishes and excludes Byzantine nodes in a similar manner to the pBFT algorithm.
Eco-friendly system (low energy consumption)
The consumption of large amounts of energy in blockchain transactions leaves a significant impact on the environment. It is a critical matter of concern in the use of public blockchain networks.
Bitcoin solely is accountable for the consumption of 57.8 TWh each year which is very close to the yearly energy consumption of Algeria. This is significantly higher energy consumption as compared to a centrally regulated ecosystem of a global banking network.
The proof of work mechanism is accountable for the increased need for energy. It is a tried and tested system built for securing public blockchains. It incentivizes the blockchain participants (miners) in terms of Bitcoin to expend enormous quantities of electricity in mining.
The GEMMA Network will leverage GPoS consensus, allowing the GEMMA network community to conduct transactions with extremely little energy.
Consensus Algorithm Comparison Table
In conclusion, GPOS is an algorithm that improves scalability, security, and consensus speed by supplementing the shortcomings of the existing consensus algorithm. Because nodes participating in the agreement are randomly elected, even if there are more nodes, they are free from malicious attacks that occupy more than 50% of the network. Therefore, it is suitable for a decentralized consensus method in which anyone can expand the node, and numerous nodes participate in the agreement, improving security. In addition, the method of randomly selecting 21 consensus nodes is faster than the method of selecting existing consensus nodes.
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