05/11 - PAI Hybrid Consensus Updates
As an owner of PAI Coin, how will Hybrid Consensus benefit me?
As you probably know, the goal of the Hybrid Consensus mechanism is to fully decentralize the PAI Coin network by making it completely safe to remove the whitelist on blockchain mining. Because of its inherent redundancy, a decentralized network is less vulnerable to downtime and has reduced susceptibility to malicious attacks. So, that’s one huge benefit for anyone that owns, uses, or relies on the PAI Coin network.
This additional security is compounded by the design of the Hybrid Consensus protocol. On a pure Proof-of-Work (PoW) blockchain, a network participant who accumulates a majority of hash rate can effectively control (and maliciously change) transactions. Similarly, for a pure Proof-of-Stake (PoS) blockchain, anyone holding a majority of staked funds can control things. By combining both approaches, vulnerability to so-called 51% attacks is greatly reduced.
Furthermore, facilitated by PAI Coin Pool, Hybrid Consensus gives network participants more opportunities to earn PAI Coin by incorporating both mining and staking activities into the protocol.
Here’s a snapshot of some of the commits / PRs by our developers last week:
- Voting transactions generated by wallets https://github.com/projectpai/paicoin/commit/156b13ff0684985ee5421b93b965e1d46f8c24b7
- A test for split transaction reordering https://github.com/projectpai/paicoin/pull/293/commits/9b4ff4f1e619fbe90a67ce93134669a4047cfe69
- New difficulty adjustment algorithm complete with unit tests https://github.com/projectpai/paicoin/pull/295