It’s ironical that as more number of companies are investing in blockchain every day, the confusion around the adoption of blockchain and the resulted value is still considerably persistent. A large part of this complexity and unawareness is around selecting the right blockchain consensus model as it constitutes a crucial decision for any organization embarking onto a new blockchain project.
Recently, it has been observed that a multitude of enterprise customers are more aligned towards the Delegated Proof-of-Stake (DPoS) consensus model for their blockchains. Rightfully so, the DPoS model has proven its mettle by addressing the core issues such as Proof-of-Work (PoW) and Proof-of-Stake (PoS), inherent in some of the more traditional consensus mechanisms in the blockchain landscape. Within a short period of time, the DPoS has grown quite rapidly and is today widely known to support enterprise apps and crypto-currency delivering speeds that are faster than Bitcoin and Ethereum.
Dato Arai Ezzra, the Founder of DDK, says, “One of the major advantages of a DPoS blockchain is that it depends on community members to participate in the maintenance and security of the platform in a way that each member’s participation provides benefit for all.”
Spearheading this adoption of DPoS among the Asean blockchain industry and further promoting its usage by embedding it at the core of its blockchain platform, DDK marks its niche as a community platform that aims to create economic opportunities through the development of blockchain solutions. Started as a team that developed an idea for a pre-CIO project, DDK initially went on to create DinarCoin (DNC) in 2015, based on the Estimated Time Pool Sharing (ETPS) technology.
With DPoS, we created DAO (Decentralized Autonomous Organization) that secures the network through voting done by delegates, each of whom are chosen offline by the DDK community itself, in local events or their own training centre
The DNC represented and was valued 4.25 grams of 999.9 karat gold. The team at DDK then began working on making the ETPS technology more community-centric. Ezzra shares his experience over that time, where he witnessed a multitude of public users getting scammed with the so-called crypto-currencies and centralized applications using non-genuine blockchain and losing out on a lot of money during the process. According to him, most of these crypto-currency products do not even have real use-cases and solutions for the community. Their ICOs would do crowd-funding and prepare presentable whitepapers as a proposal with some prototype of a product that is yet to be developed. “With DPoS, we created DAO (Decentralized Autonomous Organization) that secures the network through voting done by delegates, each of whom are chosen offline by the DDK community itself, in local events or their own training centre,” says Ezzra.
Today, the DDK community has grown to enthusiastically contribute to a number of blockchain platforms worldwide. The community has forty-six leading teams and a network that has actively spread across several countries including Malaysia, Singapore, Cambodia, Vietnam, Thailand, Indonesia, Brunei, Philippines, Japan, USA and other countries worldwide. Currently, leveraging the DDK platform, the DDK community’s objective is to provide economic opportunity for the community members and continue to innovate and contribute to building blockchain solutions.
Continuing forward on this journey, the board transitioned from ETPS to DDK coin last year, where the team decided on making the consensus system based on DPoS (Delegated Proof of Stake). Setting their eyes on another milestone, the community at DDK decided to excel by increasing the number of their users who use ETPS. In order to do that, the community launched the DDK platform with the integration of the revolutionized technology –Native Blockchain. “With the integration of blockchain technology, the ETPS platform has been converted into the DDK platform where delegated proof of stake will be used to establish consensus, making the platform secure, faster and democratic,” concludes Ezzra. https://cryptoslate.com/cryptos/dpos/