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Delegated proof of stake

The Newcoin platform works with a decentralized consensus algorithm called Delegated Proof of Stake (DPOS).
This further optimized performance and increases the transactions per second possible, while reducing transaction fees.
Under this algorithm, if you hold $GNCO, you can select block producers through a continuous approval voting system.

Anyone will be given an opportunity to produce blocks, if enough token holders vote for them, therefore it's a more democratic approach then POS.

If you like to know more about DPOS, we recommend (this great article by multicoin capital)[]

Vote decay

To further improve the democratic process, each vote for Block producers decays weekly, if not renewed.
This allows new participants to have higher voting powers and enforces Block producers to encourage constant voting.

Becoming a Block Producer

Guides for becoming a block producer, and the required software will soon be released. If you want to join the Block Producer early adopter program, please head (to discord and talk to the MainDAO)[].