As the cryptocurrency ecosystem expands and more use cases revive, PoW Proof of Work mechanism Its limitations appear, such as power-intensive and slow transaction processing times.
Also Read: Nigeria: Proof of Stake Book Released Ahead of Ethereum Merger
On the other hand, networks depend Blockchainwhich focus on building an ecosystem rather than addressing a specific use case, (eg Ethereum), on PoS consensus mechanismThe validated stake in the system is vital to the security of the network.
On the other hand, with the onset of dawn Web3Many companies rely on blockchainTo provide a variety of user needs, this revolution comes with a tradable market, including aspects such as non-fungible tokens (NFTs), and games blockchaindigital identities and social media platforms.
Given the variety of use cases that can benefit from a technology blockchaineven PoS consensus mechanism I’m starting to show the need for more adjustments.
A new blockchain suitable for the Web3 era
The latest innovation in technology has recently been introduced blockchainand he PoSA consensus mechanismwhich was developed by System fastix fastex paid for Web3.
where you add PoSA consensus mechanismAn extra layer of security PoS consensus mechanism Widely adopted, keeping in mind the needs of businesses and users Web3 in consideration.
And she rose Fastex By submitting the first blockchain based on PoSA Proof of Stake and ActivityBasim Bahamut Chainwhose main network was launched on the 3rd of May.
Inspired by the mythical sea monster Bahamut Chain reliable foundation for companies Web3 AndDAppswhich seeks to become part of the system Fastex growing.
How to become a validator on the PoSA blockchain
Auditors are the users who ensure security and sustainability blockchain, By confirming transactions on the string, where string Bahamut on the implementation layer Caravanand the consensus class Bedouin on its main network Saharaso users need to run implementation and consensus clients, and set up node node to become auditors.
Although it is the checkers selected PoS consensus stake Depending on the amount of coins stored, only the mechanism PoSA Proof of Stake and Activity It selects validators based not only on their stored cryptocurrency, but also on the level of activity of their smart contract on the platform blockchain.
In a related vein, and in order to keep the work of the auditors in check, it has the Blockchain PoSA Proof of Stake and Activity Punitive penalty mechanism, through the seizure of cryptocurrencies.
Also Read: How Proof-of-Work Incentives Are Fairer Than Proof-of-Stake
Once users become validators, they can earn rewards for validating their transactions, in addition to annual rewards for storing coins, as rewards depend on the amount of gas used, and the number of active validators on blockchain.