ABBC Foundation has recently announced the migration of our current mainnet into a new and more advanced version — Generation 2.0. It was developed in partnership with the New York-based blockchain and security development firm Deep Dive Tech. We’ve designed our mainnet to scale so much faster than before.
To develop our mainnet to be more efficient, we had to change our consensus protocol. From the previous hybrid combination of Proof-of-Work (PoW) and Proof-of-Stake (PoS), ABBC will now be implementing Delegated Proof-of-Stake (DPoS).
Let’s discuss why this protocol is deemed to be better than others and how ABBC’s blockchain users can benefit from it.
DPoS Consensus Protocol
Delegated Proof of Stake (DPoS) is a validation method based on a system of reputation and real-time voting to select trustworthy third parties or delegates. These delegates are in charge of accepting or refusing various network transactions based on validation and also creating the blocks that contain these transactions. Since it is a cumulative decision of all delegates, the possibility of changing the details of these transactions is highly unlikely.
Each system has its own rules in which blocks are generated by delegates in the sequential method. Commission, transaction costs, or inflation could create incentives for members to make a decision; but, it is in their best interest to back the network as much as possible and to give high measures or output to be in the admiration of the stakeholder.
Did you know?
People in a crypto community vote for the individuals they want to run the computer network. The people who get the most votes are called delegates or witnesses and they get paid for their services.
The admiration of the stakeholder is necessary since the delegates are in competition with each other. If, for example, a delegate so happens to fail to manufacture a block in time or the representative does a lousy job, it is immediately visible to the community. Since there would be other delegates more deserving of this position, that bad delegate would get voted out and subsequently replaced with a new one. A DPoS system is essentially self-governed and controlled by all of its members assuring the sound interests of the network, outlasting any bad actors.
ABBC Shifts to DPoS
ABBC will be implementing DPoS as its consensus protocol in the new mainnet. Through this, transactions on our nodes can be confirmed much easier, which in turn streamlines the overall consensus process leading to faster confirmations. This is made possible due to the small number of block generators and their interest in implementing high-performance hardware. This, in turn, creates a faster internet connection causing the data throughput to improve exponentially.
When this is put into effect, we would be able to handle up to 5,000 transactions per second. This would make ABBC’s new mainnet one of the fastest available blockchains in the world. As our user base increases, we will continue to make sure our transaction remains competent and powerful to match their needs and expectations.
We value each individual who is part of our community, and through DPoS a more democratic approach can be practiced, making ABBC more secure and transparent than the previous one.