We hope you enjoy poring over the document and getting acquainted with the finer points of what this means from an implementation perspective. Here’s a sample of what you’ll find in our all-new technical paper:
- Independence: Remme Protocol will operate on the EOSIO codebase, but will not rely on the EOS mainnet. In other words, REMChain will continue to be an independent blockchain fueled by the REM token, while benefiting from the many advantages that EOSIO holds over Hyperledger.
- Consensus Algorithm (BFT-DPoS): Holders of a certain number of tokens may select Block Producers (BPs) via a continuous voting mechanism. Those who accrue a minimum amount of tokens may elect to take part in a block producer election by competing for top 21 status, or voting for other candidates whom they endorse. Participation in the network’s governance is necessary to partake in the reward distribution process.
- It’s a numbers game: Using the Remme Protocol, blocks are generated in rounds of 126 (6 blocks each, times 21 producers). At the beginning of each round, 21 unique block producers are selected according to votes placed by token holders.
- Block Rewards: The block reward is divided between Block Producers in the following proportions: 70% shared between all Block Producers (Active and Standby) proportionally to their stake. 20% shared between Active Block Producers (the top 21) proportionally to the number of votes received (1 token = 1 vote). 10% goes to Remme Savings account.
- Block Producer resignation: When an owner elects to resign and no longer function as a Block Producer, it is necessary for them to sign a dedicated transaction within the system contract. Thereafter, staked tokens will steadily release over a period of six months. This is necessary to secure the network from speculative behavior among Block Producers.
Naturally, a deep dive into the Tech paper is necessary to gain a full and rich understanding of the nuts and bolts, and for fuller explanations of the highlights presented above. It covers emergency changes, protocol upgrades, details on the user agreement and how to become a block producer. Happy reading.
Read the Tech paper here
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