NGK.IO: Rely on the block producer mechanism in order to blaze a new path
DeFi has once again reproduced new ways and possibilities in the long-term weak and routed market, which has made many people once again caught up in the circle. The lock-up funds, user volume and total market value of DeFi have soared in a short period of time, which has also led to the rise of a series of DeFi-related products, such as decentralized stable coins, loans, DAOs, oracles, and other derivatives. There are all kinds of colorful appearances in the market. There are various of projects have emerging to catch up with DeFi.
NGK public chain team has done with something similar to each other, but DeFi has completely taken a “new concept”, and NGK.IO has created new things based on the original “predecessors”. There are 21 units of block producer on the NGK public chain are one of the most exciting features.
In the past two years of preparation time, the distributed data center of the NGK public chain has deployed 300 candidates’ nodes and 49 alternative nodes. So, who are these candidates and alternative nodes and what are they stand for?
In fact, mining pool miners in the ecology or users who enter the ecology by redeeming NGK and USDN, blockchain consulting companies, and NGK loyal supporters, there all stand for these 300 candidate nodes. The block producer is selected by voting, but not established at the beginning.
After that, the block producers will conduct transactions in the order of block generation (alphabetical order) 65139 to obtain block production rewards. However, if some block producers are disturbed or faced with problems, in order to maintain the stability of the system, these alternative candidates of nodes will be taking over the position.
The use of candidate nodes is usually to balance power, exercise monitoring, and initiate democratic voting. The other block producers could cancel the negativity state by voting if something bad discovered. The candidate nodes of the whole process are monitored in real-time. If there’s any PY transactions discovered by the alternative candidate node, they will immediately initiate a vote through democratic means, and replace the blacklisted block producer with the alternative node with the highest vote to realize their value of supervision and democracy.
The candidate nodes need to make some other preparations. For example, their hardware facilities must be ensured to be perfect, which is the same as the block producer, otherwise, it is likely to affect the NGK.IO network after the replacement which is an invalid establishment.