[TECH] What is the PoT consensus algorithm?

: The Proprietary Consensus Algorithm for InfraBlockchain

? Challenges with Current Consensus Algorithms

Bitcoin's Proof-of-Work (PoW) consensus algorithm provides block creation rights to entities possessing significant computational power, resulting in enormous energy consumption.

Meanwhile, the Proof-of-Stake (PoS) consensus algorithm, employed by many public blockchains like Ethereum, assigns block creation privileges to those holding substantial amounts of cryptocurrency, centralizing authority around cryptocurrency ownership.

Both of these prevalent approaches in the blockchain industry are inefficient consensus algorithms grounded on cryptocurrency.

? Equitable Consensus Algorithm Operable Without Cryptocurrency

InfraBlockchain's Proof-of-Transaction (PoT) consensus algorithm is an innovative technology developed by Blockchain Labs to address the inefficiencies of conventional consensus strategies. Within the PoT consensus mechanism, transactions produced by users of real blockchain-backed services (such as local currencies, token securities trading, real-world assets, voting, etc.)serve as the voting mechanism. Validators are then chosen based on these transaction votes.

This mechanism ensures a rational and just consensus method, unaffected by computational strength or holdings of cryptocurrency. The PoT consensus algorithm stands as a pivotal technology of InfraBlockchain, recognized under the USPTO US patent ?(US 11,636,450 B2).

* Transaction(Tx): An action or trade that occurs on a blockchain network
* Validator: An entity that verifies and validates transactions recorded on the blockchain
* Node: A participant in a blockchain network        

? Increased Network Trustworthiness with the Integration of a Seed Trust Node

It's possible to specify pre-determined trust nodes, such as Seed Trust Nodes or government agencies, in the validator selection process. This allows for a hybrid public or permissioned validator node configuration, encompassing both privately operated service entities and pre-designated trust nodes chosen through the PoT transaction voting.

When anchoring blockchain networks around governmental institutions, leveraging the Seed Trust Node can significantly enhance the network's initial stability and credibility.

? A Unique Global Patent forBlockchain Consensus Algorithms

The Proof-of-Transaction (PoT) consensus algorithm with its capability to create a public blockchain without the need for cryptocurrency, is patented in both the United States and South Korea.

It stands as the only blockchain patent globally registered concurrently in the US and South Korea.

? Leveraging Stable Tokens

Stable tokens, pegged to fiat currencies and backed by trusted institutions like governments and corporations (e.g., iKRW, iUSD, iPHP), can be minted and circulated within InfraBlockchain ecosystem.

Once issued, these stable tokens are leveraged as transaction fees within the InfraBlockchain network.

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