IERC PoW and DPoS Mechanism
The IERC protocol proposes an innovative system for allocating inscription scales, which is outlined in a development roadmap consisting of three key phases:
1. Basic stage: In this stage, we verify the output model of Proof of Work (PoW) Mint through hash rules. This method enables anyone to mint ticks by providing computing power, gaining wide recognition and participation from market users.
2. Integration phase (PoW & DPoS phase): In this phase, PoW and DPoS (delegated proof of stake) mechanisms are combined to create a fairer tick output model. This integrated model maintains the fairness of PoW, where rewards are based on the provided computing power, while introducing DPoS to enhance network governance and security.
3. Final stage: In the final stage of the roadmap, the IERC protocol will achieve full modularity of PoW and DPoS. This means that any user will be able to build and customize their own PoW and DPoS extension applications on this infrastructure, making it truly community- and user-centric. In addition, PoW computing power will be redirected to support the construction of a decentralized index, further improving the efficiency and transparency of the ecosystem.
Through these three phases, the IERC protocol will promote a decentralized, scalable and fair cryptocurrency ecosystem for all participants. Each phase is designed with sustainability and user engagement in mind, which means that the stable growth and technological innovation of the entire network are well guaranteed.
What is IERC PoW?
IERC POW is a mining output inscription scheme launched by the IERC protocol for computing power users. It is a social experiment in the Ethereum inscription ecosystem. 🧪
By leveraging Ethereum's "pre-generated hash mechanism", IERC PoW establishes a computing power output threshold for inscribed assets. This threshold verifies the rarity and value of the asset in the form of decentralized proof of work (PoW). IERC PoW follows scientific reasoning and makes minimal modifications to enhance the functionality and capabilities of the IERC native protocol.
What is IERC DPoS?
The DPoS (Delegated Proof of Stake) component of the IERC protocol is a two-stage process that includes staking and staking mining. Users stake valid ticks into a designated pool to receive DPoS_EOA points, which can be accumulated and consumed within DPoS to obtain mining rewards. Different staking targets and pools provide different point generation rates, and users can choose the most appropriate staking strategy based on their preferences. Valid Ticks refer to assets included in the index node program, giving participants the opportunity to make their assets eligible for valid ticks.
