In order to make the entire blockchain securely consistent, the generation of blocks needs to reach a certain consensus. At the same time, the difficulty of block output directly determines the degree of participation in mining, the breadth of users and the efficiency of dissemination. The more participants the token output, the higher the degree of consensus, and the easier it is for the chain to succeed. Therefore, consensus algorithm is the core research topic of developers before the development of public chains, and strives to achieve block production de-centering, value incentives are more reasonable, and network security is credible.
Recently, the Good Data Foundation (GDF) proposed a new mechanism, the Proof and Reputation Mechanism (PoR), to incentivize miners to contribute their computing power to advanced technology and researched data model training and prediction. The PoR mechanism has design innovation in multiple dimensions such as value incentive, security verification, and sharing, and skillfully combines contribution and credibility to improve the efficiency of public chain operation and ecological expansion tension.
In order to better understand the characteristics of PoR consensus, let's explore the mainstream consensus mechanisms in the market: POW, POS, IPFS and other consensus mechanisms, decide who can produce blocks (that is, become miners), and take away the benefits such as block rewards and fees.
The PoW mechanism takes the size of computing power (workload) as the core index of mining output, and has evolved into mining machine performance competition. Its technical threshold and capital threshold are increasing day by day, and the centralized trend of mining farms and mining pools is obvious, resulting in ordinary retail investors being unable to enter to share network value, such as Bitcoin and Ethereum's large-scale output monopoly Status Quo is difficult to change.
The PoS mechanism takes the position volume (equity income) as the main assessment criterion for mining income, and the poorer the poorer, the richer the people, and eventually the poor are gone, resulting in the loss of vitality of the blockchain. As in EOS, block producers can only be 21 larger groups.
IPFS mining, which uses contributions such as memory or broadband as the benchmark for mining, is a hot concept, but it seems that there is still a long way to go before maturity. Moreover, from the beginning, it has advocated the construction of mining farms as a competitive weight for token output, away from its original intention of distributed storage and computing, such as FIL.
The PoR consensus mechanism will incentivize and distribute in all aspects of block production, data transmission, value sharing, etc., in order to promote technology evolution and system performance improvement, so that the chain can move forward safely and steadily in a highly decentralized environment. On the one hand, PoR will link contributions to reputation, incentivizing blockchain miners to participate in secure multi-party computing (MPC) and machine learning (ML) computing to meet the above challenges; on the other hand, in the PoR model, token output is not based on workload (computing power), holding capacity, memory, etc. as the only driving force, and the advantages of hashrate or holding aggregates will be greatly reduced, so that ordinary miners also have the opportunity to create blocks. At the same time, all output nodes had to turn to the network to provide more valuable behavior in order to obtain token revenue.
PoR also has advantages in terms of security and performance improvement of public chains. For example, in the PoR evolution workflow, each node has four modes: P2P node, MPC node, verifier, and leader. The performance of nodes in various roles and work links is related to the reputation value, and the built-in reputation score function of the system calculates the comprehensive score. The reputation score affects not only the revenue distribution, but also the chances of a node joining the next validation group, which in turn affects the node revenue again. Because nodes with high reputation scores tend to get more support in the network and are motivated to participate in more transaction verification, computation, and other work, system security will continue to improve. Stay tuned!