Ctex Consensus Mechanism

Ctex Consensus Mechanism

Consensus is the foundational process through which nodes in a network reach agreement on which transactions to include in the next block of the blockchain. CTEX employs a robust consensus mechanism alongside Sybil protection and validator incentives to ensure the integrity and security of its network.

Delegated Proof of Stake (dPoS) and Sybil Protection

CTEX utilizes a Delegated Proof of Stake (dPoS) algorithm to safeguard against Sybil attacks and align validator incentives. To participate in network consensus, node operators must stake a minimum amount of CTEX tokens (currently set at 100,000 CTEX). Validator selection is permissionless, but staking CTEX imposes a significant cost, discouraging the creation of multiple validators by a single entity.

Validator Rewards and Incentives

Validators, responsible for proposing and validating blocks, receive rewards in newly minted CTEX tokens and transaction fees. Their reward is proportional to their stake and can be augmented by attracting CTEX tokens from delegators.

Delegation Mechanics

Delegators can contribute their CTEX tokens to validators, enhancing their chances of earning rewards. The mechanics of delegation on CTEX are designed to incentivize active participation and stake contribution from the community.

Consensus Model: AuRa

CTEX currently employs Parity's AuRa (Authority Round) consensus model, also utilized by the xDAI blockchain. In this model, validators take turns signing blocks, which are then broadcast to all validators for confirmation. A new block is added every 5 seconds, ensuring rapid transaction processing.

Transaction Finality

While achieving transaction finality may theoretically take some time, in practice, a transaction on CTEX can be considered finalized after a single block confirmation. This efficient process ensures the timely confirmation of transactions and enhances the overall user experience on the platform.

By combining dPoS with the AuRa consensus model, CTEX ensures a secure, efficient, and decentralized network where validators are incentivized to maintain network integrity and reliability.