Consensus Mechanism

Overview of Consensus Algorithms

Consensus algorithms are the backbone of blockchain security, ensuring that all nodes agree on the state of the blockchain. Various algorithms, such as Proof-of-Work (PoW) and Proof-of-Stake (PoS), offer different benefits and trade-offs.

Oriox's Proof-of-Privacy (PoP) Consensus

Oriox introduces a novel consensus mechanism called Proof-of-Privacy (PoP), which is specifically designed to support the network's privacy-centric goals. PoP ensures that validators can verify transactions without compromising the privacy of transaction details.

Validator Incentives and Security Measures

Validators in the Oriox network are incentivized through ORX token rewards, encouraging them to secure the network while maintaining privacy. Additional security measures are in place to protect against common blockchain threats, such as Sybil attacks and double-spending.

Governance Model

Oriox employs a decentralized governance model, allowing ORX token holders to vote on network upgrades, protocol changes, and other critical decisions. This ensures that the community has a voice in the future development of the Oriox network.