Xenea Docs
  • OVERVIEW
    • Summary of Xenea
    • Core Technology
      • PoD（Proof of Democracy）
      • DACS (Decentralized Autonomous Content Storage)
  • XENE Tokenomics 1.0
    • What is XENE?
    • XENE Tokenomics
    • XENE Max Supply
    • XENE Genesis Tokens
    • Mining XENE with PoD
    • XENE Burning Mechanism
  • WHITEPAPER
    • Abstract
    • Legal Disclaimer
    • Introduction
    • Basic Concepts of Blockchain
    • Current Blockchain Issues
    • General Description
    • Purpose and Uniqueness
    • Basic Functions of the Xenea
    • PoD Consensus Algorithm Overview
    • Xenea Blockchain Nodes: The Pillars of the Network
    • Block Reward Mechanism: Fair Distribution of Rewards
    • Specifications: A Deeper Dive into Xenea Blockchain
    • XENEA Wallet
    • DACS Node Architecture and Sustainable Generation Manager
    • Halving
    • Finality
    • Token Economics for Sustaining the Xenea
    • Token Allocation and Supply
    • Xenea Governance Overview
    • Future Works
    • Development Roadmap
  • TESTNET
    • How to Run a Test-Net Node
    • How to Connect to Kura Testnet
    • Claim Kura Testnet XENE
    • How to Deploy to Smart Contracts
      • Remix IDE
      • Hardhat
      • Truffle
  • OTHER DOCUMENTS
    • AML KYC Policy
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PoD（Proof of Democracy）

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Last updated 6 months ago

PoD is the Xenea's proprietary consensus algorithm consisting of Voting and Escrow nodes. The algorithm aims to solve the following problems found in each of the consensus algorithms and enable large-scale decentralization, thereby enabling secure transactions and transfers of assets for decades and centuries to come.

Other Consensus Mechanism Problems:

  • PoS (Proof of Stake)

    • Security dependent on token price

    • Centralization of power through a “rich get richer” structure

  • PoW (Proof of Work)

    • Consumption of large amounts of energy and natural resources

    • Centralization by minority groups with capital to invest in significant computing resources

PoD is a hybrid consensus algorithm consisting of an authorized Escrow node and a Voting node in which anyone can participate. Usually, the Voting node refers to the user's wallet. Originally, PoD's Voting Node was designed to allow anyone to participate unconditionally, but to prevent Sybil attacks, minor conditions are imposed on the requirement to participate as a Voting Node.

To reduce the probability of parties with mal intent joining the consensus, the selection of both Escrow and Voting nodes is conducted randomly. Escrow nodes are randomly selected based on a determined transaction volume. In addition, Escrow nodes receive transaction confirmation status from randomly selected Voting nodes.

Voting nodes selected by Escrow nodes participate in the transaction confirmation for a period of 10 blocks (i.e., 10 minutes). Five of the seven selected Voting nodes, excluding the sending and receiving nodes, vote True/Not-True for each transaction, where the Escrow nodes determine the validity of the transaction using a decision-making formula. In the meantime, tokens are held on Escrow nodes; if the sum of the True/Not-True results reaches or exceeds 75% of the threshold, the tokens on Escrow are released and the transaction is finalized.

Escrow and Voting nodes participating in PoD earn fees and block rewards for each confirmed block based on the distribution ratio specified by the protocol. The block rewards have a half-life/halving every two years.

Related Articles

For more information on PoD, please refer to our .

High Secure Mobile Wallet for Token Transfer using Escrow Account on PoA Voting Blockchain

Voting blockchain for High Security NFT

Implementation of Smart Contract on Autonomous Decentralized Voting Blockchain

Whitepaper
https://ieeexplore.ieee.org/document/10315485
https://ieeexplore.ieee.org/document/9621968
https://ieeexplore.ieee.org/document/10092152
PoD Overview Diagram