Finality

What is finality?

Finality in blockchain pertains to the irrevocable verification of a transaction or a group of transactions. In traditional financial systems, once a transaction is verified, it cannot be reversed. Similarly, achieving permanence on a blockchain network guarantees that a transaction is unalterable once it is included in the blockchain. This concept is essential for ensuring the security and authenticity of the blockchain. The use of consensus in the blockchain network enables the achievement of finality. Various consensus algorithms are utilized by different blockchain networks, each employing a distinct method to validate transactions and ensure finality. Examples of these algorithms include proof-of-work (PoW), proof-of-stake (PoS), and practical Byzantine fault tolerance.

Finality of CROSSVALUE Chain Blocks

The finality of the generation of blocks in the CROSSVALUE chain depends on a timestamp of the block generation every minute. However, the irreversibility of the transaction is fixed when the transaction is approved by an Escrow node.

Mechanism of our VPoW Blockchain

In simple terms, the VPoW (Voting Proof-of-Work) consensus mechanism is a variation of the PoA (Proof of Authority) consensus mechanism. It incorporates the DTS consensus instead of the Clique Consensus mechanism. Additionally, in this consensus mechanism, the rewards for mining are given to chosen voters, signers, and DACs users. The VPoW consensus mechanism aims to achieve sustainability, maintainability and reliability through the following features: The transactions are included in the block only if the Escrow Node receives votes of 75% or more from network participants, which are considered valid. The Distributed Voting Reward ensures participation and consensus by distributing voting rewards to selected voters, signers, and DAC Storage users. Data from DACS (Decentralized Autonomous Contents Storage) is stored utilizing IPFS (InterPlanetary File System), which is a decentralized storage network that enhances the immutability and security of the data. The combination of these features contributes to the overall finality and integrity of the VPoW consensus mechanism.