In this article, we’ll explain how our PoD Consensus Mechanism works. The links for you to actually try it out yourself will be at the end of this article. So let’s dive right in!
Proof of Dedication (PoD) Consensus Mechanism: Before going to PoD, let’s recap on PoU (Proof of Utility), which is a sort of credit score: a single value that describes the trustworthiness of an account by taking into account a range of different variables. In our creation of minebot, we have upgraded PoU to PoD to include the storage aspect. Our model thus far takes five different variables into account: the stake size, the age of the account, the average staking time, the last staking time and the storage size. Each of these variables is assigned a dynamically changing weight that will adjust itself in accordance to the system demographics. In a consensus mechanism, votes from an entity with a higher PoD would be weighted more than someone with a lower PoD.
In that sense, PoD is akin to a multidimensional, dynamic PoS, except one cannot game the system simply by controlling the majority of the stakes. Although we know which variables go into making a higher PoD, we don’t know what the weights of each one are, and furthermore, the weights will change over time. This effectively guarantees that no one will remain king of the hill.
So let’s start with the demo:
Let’s assume, you’re a node on the jura protocol. Now your ranking on the network will be dependent on four metrics:
Storage Size
Stake Size
Time spent on the platform
Average time between consecutive stakes
Last Staking Time
Now, let’s say your current stake size is 5, CST is 1.7, AIST is 0. Your current PoD score will be 0.1
Let’s say we vote with more stake size (greater than 5).
You can see your overall score automatically increases. Now if you keep on voting with hire stakes without spending a lot of time in between your votes, your PoD score will increase relatively quickly.
As you can see, the higher your stake size without skipping a voting turn will bring your PoD score very close to 1 which is extremely high.
But now, let’s say you do not participate in voting for the next five rounds, this will have a huge effect on your PoD Score.
Now you can see that the LIST is also in action which is the last time since you voted with a stake and your score automatically drop but 0.3 points.
But then if you decide to keep on voting/participating but with a relatively lower stake size, that will have a negative effect on your overall PoD score.
As you can see, the PoD score automatically drops like a lot. This is to make sure that nodes on the network are unable to game the system by voting in higher-amounts but with less stake size.
As there are more rounds in which users participate, the calculation of the score becomes more and more complicated. The key to a higher PoD score is consistency and higher rate of participation with higher stakes on the platform.
PoD will ensure there is no gaming of the system and will completely eliminate the possibility of 51% attack or penny attack because, at the end, the PoD score is highly volative and strongly co-related with the positive effort of the user.
We hope you were able to get an idea of the how our PoD will work at the backend and will ensure the authenticity of the protocol.
Now, it’s time for you to try it out yourself. Follow the link and explore our PoD: https://jura.network/pod
