Stealth’s Blockchain Uses New Economic System to Fairly Reward Quantum Proof-of Stake Activity
With five second blocks, Stealth Quantum Proof-of-Stake (qPoS) is one of only a handful of blockchains that offer nearly instant transaction confirmations.
On top of this speed, Stealth qPoS supports cryptographically anonymous transactions, making it an unrivaled solution to private transactions. To offer this unique combination of speed and anonymity, qPoS utilizes block scheduling, requiring that block validators qualify with the network.
As part of their continued, innovative blockchain development, the Stealth R&D LLC team is pleased to announce their new system that fairly recognizes and rewards transaction validators on the Stealth blockchain.
Block scheduling is used by other blockchains to achieve blazing speeds. Unlike Stealth, though, all of these blockchains use a political system called delegated proof-of-stake, whereby block signers are selected according to their popularity. The biggest concern is that political popularity may or may not reflect their performance as validators. If an individual can make friends with the founders of these blockchains, that person has a real opportunity to earn an income as a block signer. The resulting nepotism means that (1) validators in delegated proof-of-stake systems lose their autonomy, (2) reward systems can be exploited, and (3) blockchain performance can suffer.
Recognizing these problems with politics, the Stealth lead developer, Dr. James Stroud, has devised a purely economic mechanism for selecting validators; they simply buy their block validation rights directly from the block chain. In other words, Stealth validators don’t need to seek the approval or favor of insiders and founders.
Dr. Stroud explained, “In Stealth qPoS, block validators only need to acquire enough XST to buy rights to validate blocks on the Stealth blockchain. By exercising these rights and signing blocks, Stealth qPoS validators may collect rewards.”
Importantly, the good performance of qPoS block validators is rewarded by earnings that increase as validators sign more and more blocks. This highly incentivized system means that the legitimacy of block validation cannot be undermined by political considerations. The result is that Stealth qPoS block rewards are distributed fairly while the reward system exclusively incentivizes optimal performance of the blockchain.
Stealth qPoS is an economic-driven consensus mechanism that provides privacy using state of the art cryptography in combination with streamlined blockchain execution. It enables the fastest cryptographically private digital currency possible. Stealth addresses many of the current concerns about slow confirmation times that exist with other blockchain technologies, especially privacy coins.
The Stealth blockchain was launched in 2014 and quickly recognized for its StealthText technology. QPoS extends Stealth’s history of blockchain innovations, fusing two different types of blockchain ledgers to improve privacy, speed, and throughput.
Stealth R&D will be hosting an exclusive presentation on the new revolutionary technology Quantum Proof-of-Stake at the upcoming Consensus conference in New York at 4:20 pm on May 14th.
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About Stealth R&D
Stealth provides the fastest cryptographically private digital currency possible. The Stealth blockchain provides almost instant transactions with absolute privacy protection using state of the art cryptography combined with streamlined blockchain execution. This new technology is called Quantum Proof-of-Stake (qPoS).
Stealth R&D LLC is a registered Delaware (USA) limited liability corporation. For more information visit https://stealth.org/
About Consensus
Consensus is the annual gathering of the cryptocurrency and blockchain technology world. Since 2015, Consensus has attracted every major company, developer, founder and investor in the cryptocurrency and blockchain world to engage in an annual discussion about the future of the industry. Consensus is designed to be a big tent for the industry: it convenes industry participants ranging from enterprise consortia to cypher punks. This convening power breaks down the barriers that separate companies in the industry and allows everyone working on the technology to spend three days learning from their peers. Previous speakers reflect the richness and diversity of the Consensus crowd, ranging from titans of Wall Street and rulers of the Fortune 500, to pioneering cryptographers and the core developers who power the world’s most valuable cryptocurrencies.
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