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Last Updated 2020-07-30 |
The core team will update this section as more ideas become solid towards establishing EPoS. One thing that is sure at this point is that EPoS will be a hybrid form of Proof of Stake(PoS) / delegated Proof of Stake (dPoS).
There are a lot of similarities between PoW and PoS in the structure of their ecosystem.
For example, there are two distinct groups in PoW ecosystem; solo miners and pools with miners.
Miners can choose how to mine depending on their hash rates.
Group A) For a miner with high hash rates, solo mining is the best option.
Group B) Miners with smaller hash rates have a better chance of finding a block when they collectively gather their hash rates together to find blocks in pools.
In PoS, there will be two groups of participants like PoW.
Group A) Individuals with enough coins can run a staking masternode.
Group B) Individuals with insufficient coins to run a staking masternode, willing to delegate their stakings to a particular node. The purpose of such delegations is for nominating a master node collectively with enough stakings to acquire a masternode status, similar to how a pool can find a block with a group effort of smaller miners.
QWC's PoS part of the implementation will have similar staking and reward system of other PoS coins. dPoS implementation will allow pool staking for those with insufficient number of coins to run a solo staking node. This feature will provide a chance to have a representative for the minority's shares in EPoS ecosystem.