Active Block Producers
What Is A Block Producer?
Block producer is a term used in Vexanium blockchain ecosystems that use Delegated Proof of Stake (DPoS), Block producers similar to miners on a proof-of-work (PoW) network or Validator nodes on a proof-of-stake (PoS) blockchain. Block producers which allows users to vote block producers to validate and generate blocks. Block producers are also known as delegates or witnesses. They are in charge of producing new blocks that contain recent network transactions as well as blockchain evidence that the chain's present state is legitimate.
Block producers are critical to the network's functioning. They collect transaction data and store it in blocks to validate them on blockchain networks. Blocks are transmitted to the network for validation after they have been prepared. Block producer who produce blocks upload the transaction data to the blockchain after they have been validated. To understand the concept of BP in more detail, The Vexanium network is governed by Block Producers, who are decentralized entities. They are in charge of achieving consensus and delivering transaction or data blocks to the Vexanium network.
Delegated proof-of-stake is a variant of PoS in which validators are elected by the network's vex token holders rather than being picked at random.
All VEX coins holders in the Vexanium mainnet vote for 21 trustworthy accounts to act as block producers and make decisions on their behalf. They are chosen from the top 21 Block candidates with the highest votes. 21 Active producers known as "Active block producers." The Vexanium design employs Delegated Proof of Stake (DPOS), which involves the community selecting trusted accounts (also known as "trustees") to produce blocks as Active Block producers . and other Blockproducer that not selected as active Bp will be part of Standby Blockproducer
In Vexanium all Blockproducers will get reward fron network , Active blockproducers reward will get reward from Block creation reward known as BPAY and Votepay known as VPAY , and standby blockproducers will get vote pay rewards
The chosen block producers assist the VEXANIUM mainnet with processing power and bandwidth. Their primary responsibility is to gather transaction data, bundle it into blocks, and disseminate those blocks to other block producers. They submit the blocks to the blockchain and get rewarded after the verification is done. However, if any of the top 21 block producers do not generate any blocks for the next 24 hours, they will be taken off the list.
Last modified 2mo ago