Why MGP ?
DPOS Consensus
Delegated Proof-of-Stake consensus algorithm have proven itself as the only consensus algorithm that is able to provide transaction speeds equivalent to the centralized systems, while still preserving decentralization and advantages of blockchain. Under DPOS algorithm, token holders choose block producing nodes by a process of continuous voting. The voting power of a node is determined by the amount of tokens the node have staked into the system. Any node can start producing blocks, but must persuade users for votes Assuming that no node misses its own cycle, the longest chain will be generated. The block producer is invalid at any time other than the scheduled round. However, there may be malicious or faulty nodes creating a few bifurcations. To ensure that the chain where the honest node is located becomes the most long chain, the number of honest nodes is required to account for more than two thirds of the total.
DPOS Consensus
Delegated Proof-of-Stake consensus algorithm have proven itself as the only consensus algorithm that is able to provide transaction speeds equivalent to the centralized systems, while still preserving decentralization and advantages of blockchain. Under DPOS algorithm, token holders choose block producing nodes by a process of continuous voting. The voting power of a node is determined by the amount of tokens the node have staked into the system. Any node can start producing blocks, but must persuade users for votes Assuming that no node misses its own cycle, the longest chain will be generated. The block producer is invalid at any time other than the scheduled round. However, there may be malicious or faulty nodes creating a few bifurcations. To ensure that the chain where the honest node is located becomes the most long chain, the number of honest nodes is required to account for more than two thirds of the total.
Smart contracts platform
For developments of DApps on MGP’s ecosystem, MGP Virtual Machine (MVM) is designed as a lightweight, Turing complete virtual machine. It is a High-Performance Blockchain WebAssembly Interpreter with the goal to provide a custom-built blockchain system that is efficient, convenient, stable, secure and scalable. MGP supports the placement of executable scripts that can be associated with a user address. The logic defined in the scripts can be executed over a turing complete deterministic state machine, the result of which can be stored on the blockchain as transactions. These scripts are defined as the smart contracts, that can consist of business logic with various operations defined that can be permissioned or open.
