DPoS Points

In the DPoS (Delegated Proof of Stake) phase of the IERC protocol, EOA points serve as a scoring system to measure users' historical staking behavior. By staking crypto assets, users accumulate EOA points over time, which serve as a reward and voucher for their past staking activities. These accumulated EOA points can subsequently be consumed within the DPoS system in exchange for entitlement to future mining rewards. Specifically, users can choose to consume a portion or all of their points to increase their weight in specific block rewards. In other words, EOA points act as voting rights, allowing users to enhance their proportion in the distribution of DPoS mining rewards by consuming them. This mechanism ensures that the allocation of rewards in the DPoS phase is based on users' long-term contributions and commitments to the network. It rewards not only long-term and stable stakers but also encourages new users to join and stake assets, thus building a more secure and decentralized network. Through this approach, the DPoS phase of the IERC protocol facilitates a fair and sustainable reward system, rewarding participants who make substantial contributions to the network.

Is there only one type of EOA point?

In the IERC protocol, there are multiple types of EOA points, which reflect users' participation in different staking strategies and staking pools. As the IERC protocol enters its final stage, the permission to deploy arbitrary EOA staking will be open to all users. This means that users will be able to create and participate in different staking pools according to their needs and strategies, generating various types of EOA points. The diversity and scalability of these points symbolize the maturity of the IERC ecosystem infrastructure, allowing for more customization and flexibility beyond being limited to a single staking model. Each type of EOA point may have different characteristics and uses, such as different reward weight calculation methods or different usage scenarios, further promoting ecosystem diversification and scalability. Such a design allows the IERC protocol to adapt to various market demands and user preferences while fostering broader community participation and innovation. Within the IERC ecosystem, these points serve not only as tools for staking and rewards but also as incentives for user participation in network governance, support for decentralized application development, and promotion of ecosystem diversification.

What is the IERC Foundation?

The IERC Foundation is a governance body with attributes of a Decentralized Autonomous Organization (DAO), dedicated to managing and guiding activities and developments related to IERC. The foundation's primary responsibilities include handling all external affairs of IERC, organizing and overseeing the voting decision-making process, and ensuring the effective implementation of these decisions. Operating in a similar manner to the Ethereum Foundation, the IERC Foundation plays a central role within its ecosystem, aiming to drive the long-term development and success of the project.

As a DAO, the IERC Foundation operates in a decentralized manner, meaning it does not rely on a single centralized leadership structure but rather on collective decision-making by community members. This structure enables the foundation to be more flexible in responding to the needs and changes within the community while ensuring transparency and fairness in the decision-making process. Through this approach, the IERC Foundation aims to foster continuous innovation and progress for the projects and technologies it supports.

Regarding IERC's future vision

The IERC protocol is committed to making groundbreaking advancements in the decentralized space. The Index Node initiative, as a preliminary step towards this vision, is just the beginning. Our ultimate goal is to achieve full decentralization, particularly in the realm of data indexing using Proof of Work (PoW) computational power. By applying PoW computational power to create and maintain a decentralized indexing system, IERC aims to enhance network availability and transparency, providing a more open and autonomous data environment.

Additionally, the implementation of Delegated Proof of Stake (DPoS) signifies our exploration of network scalability. The successful implementation of this mechanism has demonstrated its potential, and we expect to extend these innovations to all construction areas of the IERC protocol. As technology evolves, these applications of DPoS will bring more flexibility and customization options to the IERC ecosystem, enabling it to adapt to evolving market demands and user expectations.

In terms of security, the IERC protocol intends to leverage the mature security mechanisms of Ethereum to build a robust tokenized asset ecosystem. We believe that by integrating Ethereum's security features, we can provide users with a secure and convenient experience for token transactions and management. This will further solidify the IERC protocol, ensuring its long-term prosperity and stability.

In summary, the IERC protocol is advancing towards becoming a decentralized, scalable, and secure blockchain ecosystem that not only meets current needs but also addresses various challenges and opportunities that may arise in the future.

Last updated