What is dPoW?

We’re still working and we’re fine, today we’ll let you in on the secret of what we’re developing.

👉In the blockchain industry, security is the most important aspect for any project or business. If a blockchain isn’t secure, it’s simply a matter of time before it gets hacked. We’ve implemented MTP protocol to make our blockchain safer and trustable. Now it’s the turn for Delayed Proof of Work!

Delayed Proof of Work (dPoW), does that tell you anything? It’s a mechanism designed by the Komodo project. And what does that mean?

👉dPow is a modified version of the Proof of Work (PoW) consensus algorithm, which uses Bitcoin’s Hashpower as a way to permanently increase the security of both networks.

👉How does it work?
Every 10 minutes the Komodo system copies its block hash. This copy is saved in the Bitcoin blockchain network in a process called notarization. This process involves backing up the Komodo block hash, which is then saved in the Bitcoin blockchain.

👉Why every 10 minutes?
Notaries nodes select a block hash that already has about 10 minutes to make sure that the whole network is correct and the block is valid. They simply record the block’s hash from a previously extracted block.

👉dPoW is currently used in conjunction with the Bitcoin blockchain network, but can also be used as an extension to blockchain networks using the UTXO model (Unspent transaction output).

👉The dPow mechanism is not considered to be a consensus algorithm, but simply a security mechanism, which is an add-on. So to sum up again, dPow relies on frequent backups to ensure that in the event of a network crash or successful attack, all data can be recovered quickly.

🔎You can find out more at Binance Academy or at https://komodoplatform.com/delayed-proof-of-work/