Proof Of Stake

Proof Of Stake: The New Consensus Protocol in QI Blockchain

QI Blockchain has evolved from the Proof of Work (PoW) consensus protocol, similar to Bitcoin, to a more advanced and energy-efficient Proof of Stake (PoS) system. This transition is a strategic move towards a sustainable, scalable, and secure blockchain future.

Block Creation in PoS

In the PoS model, block creation is carried out by validators, not miners. Validators are chosen based on the number of QIE tokens they hold and are willing to 'stake' as collateral. This process is more energy-efficient as it does not involve complex mathematical problem-solving like in PoW. Validators who successfully create a block are rewarded with transaction fees and new QIE tokens, thereby incentivizing participation and network maintenance.

Enhanced Security with PoS

The PoS model significantly enhances the security of the QI Blockchain. In PoW, the network's security is contingent on having over 51% of the computational power, which is both energy-intensive and potentially vulnerable to attacks. PoS, however, mitigates this risk effectively. Since validators have a stake in the network, the cost of attempting to manipulate or attack the blockchain (such as through a 51% attack) is prohibitively high. This economic disincentive makes the network more secure and robust against fraudulent activities.