Proof of Believability
IOST is building an ultra-high TPS blockchain infrastructure to meet the security and scalability needs of a decentralized economy. Led by a team of proven founders and backed by world-class investors, our mission is to be the underlying architecture for the future of online services.
The IOS platform not only provides its users a completely decentralized way to exchange online services and digital goods, but also enables developers to deploy large scale dApps with the ability to support massive number of users. With a series of groundbreaking innovations, such as EDS (Efficient Distributed Sharding) and Believable-First consensus approach, we are able to increase the system’s throughput enormously while guaranteeing security.
Each round consists of three steps:
- All candidate will get Servi proportional to their votes.
- Ranked by Servi, the top 17 nodes will form a committee who are in charge of the block production for the next round.
- All selected committee members will have their Servi balance reduced by the balance of the 17th node. In other words, the 17th node will have its Servi reset to zero, and the other 16 nodes will lose the same amount.
In the current version, the voting period is 10 minutes. This results in the committee rotating once every 10 minutes in the IOST network.
IOST’s POB consensus mechanism provides a more decentralized voting and committee formation process by introducing a Servi point system, where the number of blocks produced will be closely proportional to the votes they receive.
IOST Venezuela Servi Node
You can vote for the IOST's Servi Nodes here:
https://iost.biss.com/#/nodedetail?id=59
More info:
https://iost.io