• Chainwire DeSo has introduced a revolutionary Proof-of-Stake (PoS) system, setting a new standard for the industry.
• This technology promises to revolutionize and build upon the successes of previous PoS systems, providing greater energy efficiency and security while making its native currency, $DESO, deflationary.
• The new system includes distinct breakthroughs over existing proof-of-stake mechanisms such as maximum deflation, Revolution Rule, and Sovereign staking.
Coinbase-Backed Decentralized Social Blockchain Revolutionizes with New Proof of Stake System
Chainwire DeSo has announced the introduction of a revolutionary Proof-of-Stake (PoS) system which sets a new standard for the industry. This technology is designed to revolutionize and build upon the successes of previous PoS systems while providing greater energy efficiency and security while making its native currency, $DESO, deflationary.
DeSo Raises 200 Million from Investors
DeSo’s new layer-1 blockchain raised $200 million from investors including Sequoia Capital, Andreessen Horowitz, Coinbase Ventures and more. The state-of-the art system combines the best elements of earlier PoS systems such as Tendermint, HotStuff, DiemBFT, Ethereum Solana Avalanche and Flow with some unique features like Revolt which makes it one of the most censorship resistant systems in existence.
Revolution: Making Smart Contract Systems More Secure
One particular feature of this new PoS system is „Revolution Rule“ which automatically times out any leader that tries to censor mempool transactions. This ensures that smart contract systems are more secure by preventing miners from extracting value within them. Furthermore there is also „Maximum Deflation“ where transaction fees are burned to the maximum extent possible thus making $DESO deflationary in nature.
Validator Nodes Required To Lock Up Deposits For Network Security
In order to participate in consensus on DeSo’s PoS system validator nodes must lock up a deposit of $DESO tokens on their network similar to how Ethereum’s PoS works so as to keep it secure by preventing malicious behaviour. This also allows users to sovereignly stake their tokens for around 3 hours only instead of locking them up indefinitely like other networks require thereby significantly improving convenience for users who want to stake their tokens quickly without having long wait times or high gas fees associated with other networks like Ethereum’s current POS system.
This groundbreaking technological advancement brings us closer towards achieving trustless decentralization today and will likely be adopted by many blockchains going forward due to its numerous advantages over existing PoS models including improved energy efficiency and security along with an overall faster user experience due to shorter wait times when staking tokens compared with traditional Proof of Stake models used by other platforms like Ethereum’s current POS model .