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Overview
Many decentralized consensus protocols such as proof-of-stake (PoS) and proof-of-authority (PoA) have emerged since Satoshi Nakamoto published the proof-of-work (PoW) algorithm over ten years ago. Unlike PoW, which requires miners to expend computational resources, these protocols are environmentally fairer and scalable.
Because of these factors, many of the current cross-chain solutions, such as bridges, largely rely on PoA or PoS to provide interoperability consensus. Despite their novel applications, PoA- and PoS-enabled bridges are largely centralized. The cross-chain solution’s integrity depends on the trustworthiness of a few chosen validators, which means the system has a higher chance of failure.
The validators can also be politically aligned and be influenced or coerced into performing censorships or other actions that are antithetical to principles of decentralization. Most bridges are also not bridges going by the true sense of the word. An actual cross-chain bridge, in our view, should allow users to receive a canonical, or most commonly used, form of the token on the destination chain, not a proprietary wrapped version.
On this basis, we have built the PoT consensus protocol from the ground up as a completely decentralized and secure mechanism to provide interoperability consensus. Our goal is to be as scalable and completely decentralized as possible with many time nodes onboarded to the platform.
PoT is a completely decentralized consensus algorithm where any node (user) can join and propose/confirm blocks without being hindered by the hardware or money. It works by selecting validators based on their ranking scores and fixed stake. A ranking score is a numerical weighting measure that the algorithm assigns to each validator based on its historical experience (the accuracy with which the node validates event data) and other validators’ experience with the validator.
On the other hand, a fixed stake is a staking mechanism where all the validators stake an equal amount of $ANLOG tokens—the platform’s native asset—to participate in the consensus process. Unlike typical proof-of-stake (PoS), where nodes must stake large amounts of tokens to be considered for consensus, the PoT mechanism is fair. Any node can participate as a validator provided it has staked a fixed amount of $ANLOG tokens and accumulated a ranking score.
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