During Phase Seven, a list of approved transactions in place is left with us, which is a finished pool to be recorded in a chain with verified transactions. This list coincides at each trusted node.
The cryptocurrency, Credits (CS) has been faring well enough since its inception into the market on 3rd March 2018. Even when the cryptocurrency market had shown a massive drop in the first quarter of 2018, Credits (CS) had started with a ‘steady’ growth trend.
“Consensus” means the consent of all parties involved in discussing a possible solution to this issue.
The consensus mechanism used by the CREDITS platform is based on a combination of two mechanisms:
The key phases encompassing the consensus reaching process in the CREDITS network selection consist of head node and trusted nodes, the voting of selected nodes on transactions, ledger recording protected against any hacking scams.
Phase One consists of mainly selecting the head node and trusted nodes which participate in the consensus algorithm.
The head node and trusted nodes have to meet simple requirements: have an updated database in place and comply with the recommended system requirements.
These are the steps invovled:
Phase Two: In Phase two, there can be m number of nodes participating in the transaction voting procedure in every round (trusted nodes and the head node).
During Phase Three, all transactions generated in the system while the head node and trusted nodes are being selected (during Phases 1 and 2) are sent from all nodes to the head node.
The head node generates a pool of transactions eligible to be added to the ledger. This pool is sent by the head node to all trusted nodes.
Phase Four. Once this pool is received, each trusted node verifies every transaction within this pool throughout its database and generates the list of transactions that already been checked out. Following which each trusted node forwards this list to all remaining trusted nodes.
During Phase Five, the first round of exchange between trusted nodes is followed by generating (at each trusted node) a set of lists received from each trusted node during Phase Four. Following which each trusted node forwards this container to all remaining trusted nodes, which constitutes the second round of exchange.
Phase Six. The second round of exchange is followed by the generation of the final decision tree at each trusted node. Each trusted node goes through this tree and determines the majority of decisions (success/failed) in respect of each transaction.
During Phase Seven, a list of approved transactions in place is left with us, which is a finished pool to be recorded in a chain with verified transactions. This list coincides at each trusted node.
Phase Eight. A new block will be recorded onto a ledger by one of the trusted nodes which makes a decision on the pool that is identical with most of other nodes (reliably honest node).
During Phase Nine, the node selected during the previous phase generates a hash of the new pool, records the new pool onto a storage, and sends it to all nodes system-wide. Then a new round begins and the whole procedure restarts with Phase One.
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