Galaxy Proof of Stake
Wanchain's Galaxy Proof of Stake protocol is currently undergoing testing before implementation on the mainnet. The protocol draws on previous proof of stake models such as Ouroboros, Sleepy Consensus, Dfinity and others, while also innovating in a number of key areas. One of the primary innovations is the Unique Leader Selection (ULS) algorithm which serves to reduce the risk of forks and reduce the time needed to reach consensus. The Wanchain team has also implemented an innovative random beacon mechanism, as well as a system which ensures that consensus participants are highly active. Another feature in our PoS system is that of participation by delegation with proxy signatures. This allows smaller holders of WAN to still participate in consensus and earn rewards by participating through delegating to a node operator who will then act as their proxy. Due to the costs of participation, it would not otherwise be practical for holders of smaller amount of WAN to participate in the PoS system. Through delegation, all holders of WAN will have the chance to participate.