Link to Medium article

Current Consensus Algorithm and its Components

Current: leaders chosen rotationally from a static list of BLS keys (internal validator nodes)

Leader responsible for proposing a new block and collecting signatures form other validators to reach a consensus on the contents of the block

Consensus algorithm determines how transactions are validated and how new blocks are added to the blockchain

External Leader Rotation

Main goals:

  1. Improve scalability and performance: Designed to potentially allow for more transactions to be processed per second
  2. Increase network decentralization: Allow a more significant number of participants to have a role in the consensus mechanism
  3. Enhance network security: Reduces the risk of a single participant having too much control over the consensus mechanism
  4. Foster network consensus: EPoS aims to achieve equal power distribution among network participants. Leader rotation update builds upon this mechanism by enabling external validators to participate in the leader rotation process and propose blocks. Promotes an even distribution of power and reduces the risk of conflicts.

Scalability and Performance Improvement through Leader Rotation Update