0xTrade Cross-Chain Smart Chain unique consensus algo

ETH is already moving to POS — Proof of Stake Consensus. But it is not viable solutions. We have unique cross-chain consensus.

What is Cross Chain Consensus?

Cross chain Consensus is inspired from POA — Proof of Authority.
Let us deep dive into POA.

PoA Consensus Algorithm is well established consensus algorithm with faster consensus as well as more security.

PoA (Proof of Authority) is a consensus approach in which a group of validators has been selected as the authorizer. Their task is to check and verify all newly added identities, validate transactions, and block blocks that are being added to the network.

To ensure efficiency and security in the network, validator groups are typically kept small (-25 or smaller). The node needs to complete a mandatory process to authenticate itself in order to gain the right to generate new blocks.

Authenticators are required to register in the public notary database using government-issued documents with the same identity as theirs on the platform. As a result, blocks and transactions are verified by the participant, whose identity has been verified and acts as a permission for the system.

The advantages of the PoA consensus

Compared to other consensus approaches, PoA has the following advantages:

1. High transaction rate.
2. No high-performance hardware is required.
3. PoA networks are highly scalable compared to PoW blockchain
4. Less power consumption.
5. Low transaction fees.
6. Increased speed of valid transactions
7. No communication is required to reach a consensus between nodes.
8. Network operation is independent of the number of real nodes available.
9. The chance that a node becomes counterfeit depends on its shares and overall holdings.

In order incentivize the community for participating in POA, we have 0XT Token.

What is 0XT Token?

0xT Token

0xTrade has a native platform token called 0xTrade Governance Token (ticker: $0xT).

The platform token facilitates platform operation, utility capture and value realization. $0xT has no monetary value. $0xT incorporates economic and game theoretical designs to boost platform utility.

There are plenty more articles to come to give exciting updates for you.
Stay Connected with us for all the latest Project updates and HOLD YOUR TOKENS, WE’RE GOING TO RISE!

Twitter: https://twitter.com/0xTradeToken
Telegram: https://t.me/OXTRADEoffcial
Medium: https://0xtrade.medium.com/