The Blockchain Concencus

The Blockchain

Blockchain is a distributed ledger system that works like a highly secure, decentralized database. Numerous nodes in a blockchain network each hold a copy of the database. As a result, the database's accessibility is unaffected by the failure of one or more nodes.

Any transaction that takes place on the blockchain is noted and appended to the block that came before it. A chain of transaction events is created by encrypting the links between the blocks. It is theoretically impossible to access, change, or interfere with the data stored within the blocks due to the encrypted chain.

The Concencus

Scalability, security, and decentralization are the three key trilemmas that our technologies are being developed to address. Rawblock developed a Proof of Authority (PoA)-based solution to address the scalability issue, enhancing it with improvements to allow interoperability with the Ethereum Virtual Machine (EVM).

As a consensus technique, the Proof-Of-Authority (PoA) designates an authority group consisting of pre-selected validators. In addition to validating transactions and blocks to add to the network, their job is to verify and examine each newly added identity. Typically, the validator group is maintained small (fewer than 25) to maintain network security and efficiency.

How the POA Operates

Within Proof of Authority (PoA), nodes that have demonstrated their legitimacy are granted the ability to create new blocks. These nodes, which go by the name "validators," are equipped with software that enables them to group transactions into blocks. Validators do not need to continuously watch their computers because the process is automated, but they do need to keep their systems secure. PoA works well in public and private networks where trust is shared. Block validators are staking their reputations rather than currency since the PoA consensus mechanism exploits the value of identities. Trust in the chosen identities secures PoA. A validator must first demonstrate their excellent reputation and willingness to contribute toward the long-term good of the blockchain by meeting specific requirements before they can be approved as an authorized node.

The Native token

Native tokens are essential to the blockchain's underlying protocol and are produced upon the start of a blockchain network. They are used to speed up transactions on that network and are also referred to as protocol tokens. The native token of the Rawblock Blockchain is $RWB. $RWB will be use as gasfees on Rawblock blockchain.