Creation of event for choosing a winner of PoS

From E2C Wiki
Jump to navigation Jump to search

In PoS system the complicity of block creation is significantly easier than in PoW and a mechanism is needed to prohibit the creation of the blocks right after the first transaction is received and monopolising block creation by improving bandwidth for a faster broadcast. To solve this problem, there will be strict time limits as to when the block is formed and the node that can create it and receive a reward will be chosen randomly. To synchronise the participants and to eliminate the possibility of choosing different winners in every node there is a stable algorithm, that is based on the parameters that are calculated within the blockchain. New nodes will be able to participate in block generation only after one iteration after the broadcast is over to make sure all nodes have received new winner to choose a winner.