DPoS Points
In the DPoS (delegated proof of stake) phase of the IERC protocol, EOA points are used as a scoring system to measure users’ historical staking behavior.
By staking crypto assets, users accumulate EOA points over time as a reward and proof of their past staking activity. These accumulated EOA points can then be consumed in the DPoS system in exchange for the right to future mining rewards.
Specifically, users can choose to consume some or all of their points to increase the weight of a specific block reward. In other words, EOA points act as voting rights, allowing users to increase their share of the DPoS mining reward distribution through consumption. This mechanism ensures that the reward distribution in the DPoS phase is based on the user's long-term contribution and commitment to the network. It not only rewards long-term and stable stakers, but also encourages new users to join and stake assets, thereby building a more secure and decentralized network.
Through this approach, the DPoS phase of the IERC protocol promotes a fair and sustainable reward system that rewards participants who make significant contributions to the network.
Is there only one type of EOA points?
In the IERC protocol, there are multiple types of EOA points, reflecting the user's participation in different staking strategies and staking pools. As the IERC protocol enters its final phase, the ability to deploy any EOA staking will be open to all users. This means that users will be able to create and participate in different staking pools based on their needs and strategies, generating various types of EOA points. The diversity and scalability of these points symbolizes the maturity of the IERC ecosystem infrastructure, allowing for more customization and flexibility, rather than just being limited to a single staking model.
Each type of EOA points may have different characteristics and uses, such as different reward weight calculation methods or different usage scenarios, further promoting the diversification and scalability of the ecosystem. This design enables the IERC protocol to adapt to various market needs and user preferences while promoting broader community participation and innovation.
In the IERC ecosystem, these points can not only be used as a tool for staking and rewards, but also as an incentive for users to participate in network governance, support decentralized application development, and promote ecological diversification.
What is the IERC Foundation?
The IERC Foundation is a governance body with decentralized autonomous organization (DAO) attributes dedicated to managing and guiding IERC-related activities and developments. The Foundation's main responsibilities include handling all external affairs of the IERC, organizing and supervising the voting decision-making process, and ensuring the effective implementation of these decisions. The IERC Foundation operates in a similar manner to the Ethereum Foundation, playing a core role in its ecosystem and aiming to promote the long-term development and success of the project.
As a DAO, the IERC Foundation operates in a decentralized manner, meaning that 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 needs and changes within the community while ensuring transparency and fairness in the decision-making process. Through this approach, the IERC Foundation aims to promote continued innovation and advancement of the projects and technologies it supports.
About IERC's future vision
The IERC protocol is committed to making breakthrough progress in the field of decentralization. The index node program, as an initial step to achieve this vision, is just the beginning. Our ultimate goal is to achieve full decentralization, especially in the field of data indexing using proof-of-work (PoW) computing power. By applying PoW computing power to create and maintain a decentralized indexing system, IERC aims to enhance network usability and transparency, and provide a more open and autonomous data environment.
In addition, the implementation of Delegated Proof of Stake (DPoS) marks our exploration of network scalability. The successful implementation of this mechanism demonstrates its potential, and we expect to expand these innovations to all areas of construction of the IERC protocol. As the technology develops, these applications of DPoS will bring more flexibility and customization options to the IERC ecosystem, enabling it to adapt to changing market needs and user expectations.
In terms of security, the IERC protocol aims to leverage Ethereum's mature security mechanisms to build a strong tokenized asset ecosystem. We believe that by integrating Ethereum's security features, we can provide users with a safe and convenient token trading and management experience. This will further consolidate the IERC protocol and ensure its long-term prosperity and stability.
In summary, the IERC protocol is moving 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.