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It is a group evaluation, and the report is given below.
Consensus Mechanism with Random Polling
- Transaction Initiation: The process starts with the client initiating a transaction (Trx initiation). This is where a user or an application requests a transaction to be processed by the network.
- Transaction Batching: After a transaction is initiated, it is grouped with other transactions into a batch (Batched trx) which improves the efficiency of processing multiple transactions together rather than individually.
- Leader Selection: Once transactions are batched, a leader is selected to propose the batch of transactions to the rest of the network. The leader selection is aided by a Verifiable Random Function (VRF), which helps in choosing the leader in a way that is random but verifiable by other participants in the network.
- Transaction Proposal: The leader then proposes the batched transactions (Trx proposal) to the network. This involves sending out the transaction data to other nodes in the network for validation.
- Polling: Concurrently, there is a random polling of 33% of the network. This suggests that a subset of the network is selected randomly to vote on the proposed transactions. The chart indicates that the process waits until 1/3 of the votes are received.
- Transaction Commitment: Once the leader has successfully proposed the transaction and the necessary votes are received, the transaction is committed (Commit Trx) by the network.
- Transaction Settlement: After the transaction is committed, it is then settled (Finalized Trx), which means it is officially recorded on the blockchain. This completes the process, and the client is informed that the transaction has been finalized.
Consensus Mechanism with Time Weighted Voting
- Transaction Initiation: A client starts the process by initiating a transaction.
- Transaction Batching: Transactions are batched together for processing efficiency.
- Leader Selection: A leader is selected through a Verifiable Random Function (VRF) to manage the batched transactions. This ensures randomness and fairness in leader selection.
- Transaction Proposal: The selected leader proposes the batched transactions to the network.
- Time Weighted Voting (Polling):
- The network nodes participate in polling to approve the transaction proposal. This polling uses the Time Weighted Voting mechanism.
- Each node in the network has a weight (w) that increases over time or epochs, representing their tenure in the network.
- Voting Constraints:
- Individual node weight is capped to ensure no single node can dominate the decision due to its longevity (as shown in the second chart, where w(i) <= 0.33 * (network_w)).
- The sum of the weights (sum(w)) from the nodes participating in the polling must be greater than or equal to 51% of the total network weight to reach a decision (sum(w) >= (0.51 * network_w)).
- Transaction Commitment: If the proposal receives enough weighted votes (>= 51% of network weight), the transaction is committed.
- Transaction Settlement: The committed transaction is then finalized and recorded on the blockchain, and the client is notified of the transaction settlement.
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