The Elastos Foundation is proud to announce that with the completion of our DPoS Consensus implementation, the decentralized Elastos Smartweb is officially launched. Earlier today, at block height 402,680, the inaugural round of DPoS Supernode elections officially concluded, and community-elected Supernodes joined Cyber Republic Consensus (CRC) Supernodes in validating blocks on the network. With DPoS fully live, Elastos realizes a major milestone, as a fully autonomous blockchain joins a decentralized ecosystem for data storage, communication, and ownership. In conjunction with our open and successful merged-mining operations, DPoS consensus brings a complete AuxPow+DPoS hybrid consensus into action, and Elastos enters a new era of true decentralization.
As we progress from this significant milestone, it is important to fully understand the function of the AuxPoW+DPoS in connection with elections and the rewards distribution process.
Recurring Elections: In a live DPoS consensus, votes are recounted every 36 blocks—approximately every 72 minutes—to determine which Supernode candidates will be active nodes in the ensuing 36-block round. If the top 24 Supernode candidates remain unchanged, the active nodes will remain unchanged.
Rewards Distribution Process: As each block is successfully packaged by an AuxPoW miner and successfully signed by a DPoS Supernode, the corresponding block reward is divided such that three parties receive the following allocations:
→ AuxPoW Miner: 35%
→ DPoS Supernode: 35%
→ Cyber Republic Fund: 30%
Please note that the rewards that miners and Supernodes receive from successfully packaging and signing each block are temporarily locked, preventing distribution until the corresponding transactions receive at least 100 confirmations. Although it necessitates a brief delay in reward distribution, this serves as a fundamental security mechanism of the Elastos blockchain to prevent malicious activity and collusion amongst both AuxPow miners and DPoS Supernodes. It is the foremost priority of Elastos to establish a transparent, autonomous consensus mechanism that incentivizes AuxPow miners, DPoS Supernodes operators, and all other stakeholders in the Elastos ecosystem to preserve the integrity of the Elastos blockchain.
By establishing a fully decentralized consensus, we will continue to uphold our mission to transfer more power and resources to our growing community.