Proof-of-Work (PoW) is a consensus mechanism used in blockchain networks to validate transactions and secure the network.
Proof-of-Work (PoW) was the pioneering consensus mechanism that laid the groundwork for blockchain technology. It has since been joined by several other alternatives, each with its own strengths and weaknesses. Several of these alternatives will be explored below.
It is the method by which network participants, known as miners, solve complex mathematical problems to add new blocks of transactions to the blockchain. Think of it as a competitive puzzle-solving race where the first participant to solve the puzzle gets to add the next block to the blockchain and is rewarded for their effort.
Gold Fever
Bitcoin has often been referred to as “digital gold” for several reasons: First, it has a finite total supply, just like gold buried within the rocks of the earth. Next, it acts as a store of value in the same way as gold, providing an alternative way to hold wealth to the world’s Fiat* currencies.
* “Fiat currency” is derived from the Latin “fiat,” which means a determination by an authority, or an arbitrary order. Basically, Fiat currencies are those decided upon and approved by governmental authorities… they have value because an authority told us they do.
Finally, Bitcoin resembles gold because it must be mined, converting time and energy into the retrieval of BTC for miners. In the same way, gold miners must commit financial resources, time and energy into their operations. A miner who only expects to find a few specks of gold can probably do so in a wise location with only simple panning equipment, but a large company with employees and equipment expenses needs to mine a great deal more gold to prove a profitable venture.
How Does Proof-of-Work Work?
Transaction Bundling: When users initiate transactions, these are grouped together into a block by miners.
Puzzle Solving: Miners compete to solve a cryptographic puzzle, which involves finding a hash (a fixed-length string of characters) that meets specific criteria. This process is computationally intensive and requires significant processing power. Most of these computations are executed by GPUs (Graphics Processing Unit) because of their ability to quickly perform extremely complex calculations.
Block Validation: The first miner to solve the puzzle broadcasts their solution to the network, which is then verified by other miners. If the solution is correct, the block is added to the blockchain.
Reward: The miner who successfully adds the block is rewarded with newly created cryptocurrency and any transaction fees from the transactions included in the block.
Security: PoW secures the blockchain by making it computationally expensive to alter any part of the blockchain. To change a block, an attacker would need to redo the PoW for that block and all subsequent blocks, requiring immense computational power.
Decentralization: PoW allows a decentralized network of miners to compete to validate transactions, reducing the risk of central control.
Integrity: It ensures that all transactions are processed in a trustless manner, meaning participants do not need to trust a central authority but can trust the network’s consensus rules.
“Consensus” in web3 – An agreement between all participants in a blockchain network on the order and content of blockchain blocks.
Proof-of-Work Simplified
Imagine a large-scale Sudoku competition where participants race to solve the puzzle. The first one to complete it correctly gets a prize and publishes their solution, which others can quickly verify as correct or incorrect.
Think of the PoW puzzle as a lock and the solution as the key. Each miner tries different keys (hash values) until one fits (meets the criteria). The first one to unlock the lock (solve the puzzle) can add a new block to the blockchain and collect its associated rewards.
Energy Consumption: PoW requires significant computational power, which translates to high energy consumption, raising a plethora of environmental concerns. This concern has been the primary driver of development of alternative consensus mechanisms in web3.
Centralization Risks: Despite being a decentralized mechanism, PoW can lead to centralization of mining power in regions with cheap electricity or in the hands of entities that can afford specialized hardware. Some people worry that mining operations will become overly centralized with this approach, especially if reward value continues to increase at a level that will justify large scale operations and great expense.
Scalability Issues: PoW networks, like Bitcoin, face scalability challenges due to the time and resources required to solve the cryptographic puzzles and add new blocks.
Alternatives to Proof-of-Work
In response to these challenges, alternative consensus mechanisms have been developed, such as Proof-of-Stake (PoS), which relies on validators who stake their cryptocurrency to propose and validate blocks, requiring less computational power.
Proof-of-Stake (PoS)
The main alternative to Proo-of-Work is Proof-of-Stake, in which Validators stake their cryptocurrency to participate in the network. They are selected to create new blocks based on the amount of staked cryptocurrency.
Strengths
Energy-efficient: Significantly less energy consumption compared to PoW.
Faster transaction times: Can process transactions more quickly.
Weaknesses
Potential for centralization: Wealthier validators can have greater influence.
Security risks: Vulnerable to attacks like the “nothing-at-stake” problem (when the cost to create blocks becomes too low).
With this mechanism, token holders vote for delegates who validate blocks. With fast transaction times, this method closely resembles PoS but with increased scalability. However, decentralization is reduced because more staking power can be concentrated in the hands of fewer delegates. Plus, if delegates are compromised for any reason, things can go awry for the chain.
Other Consensus Mechanisms
Proof-of-Authority (PoA): Relies on a pre-selected group of validators to validate transactions.
Proof-of-Burn (PoB): Requires users to destroy cryptocurrency to become a validator.
Proof-of-Capacity (PoC): Uses hard drive space as a measure of stake.
Proof of Storage (PoS): Validators prove they are storing data to secure the network and earn rewards.
GalaChain is a highly advanced blockchain, first built by our web3 experts to accommodate the rapidly expanding and evolving needs of gaming and entertainment.
It uses a special hybrid model of pluggable blockchain consensus. GalaChain was built on the Hyperledger Fabric protocol, which allows consensus to be highly customizable on individual channels. An Ordering Service works with predesignated peers on the network to sign transactions in a multi-step, asynchronous system.
Despite its criticisms, PoW remains a foundational technology in the blockchain space, particularly for major cryptocurrencies like Bitcoin. Innovations and improvements in mining technology and energy efficiency are being explored to mitigate its environmental impact. Even as other consensus mechanisms are introduced, Proof-of-Work elements will still be used in a growing variety of hybrid consensus models.
Even if Proof-of-Work is gradually phased out of prominence as a consensus mechanism, it will continue to work well as an educational basis to help anyone understand the decentralized nature of blockchains and cryptocurrencies.
Proof-of-Work is a vital component of many blockchain networks, providing security, decentralization and integrity. Understanding PoW is essential for grasping how blockchain technology works and its implications for the future of digital transactions and decentralized systems.
Roughly three days remain before the final Conquest of the season. Are you prepared? Will your forces carry the day or be crushed by your opponents?
Conquest 101
Quick review for those who haven’t fought hard in a Conquest in the past:
Conquest is vastly different from the rest of the season. If you’ve only scratched the surface of these epic battles so far, it’s definitely worth it to dive in and fight for your guild. If you haven’t joined a guild, Conquest is one of many great reasons to do so. War is a team sport!
During the Conquest, guilds will compete for control of the 16 Ruins positioned around the map. Normally these can be explored by any player, but during Conquest they become positions that can be occupied. Guilds will plan which to attack and make large rallies to fight off the competition.
Guilds gain points for each second they occupy a Ruin, but they’ll also get a large chunk of bonus points every 30 minutes for the 90 minute duration of Conquest. After the first 30 minute period, the Ring of Ruin will open for conquest in the center of the map. This provides more points than each Ruin and is often a critical factor in determining the winner.
Points gained in Conquest are based on the rank of your guild, and each guild’s members will get a portion of those points equal to their contribution percentage, which is viewable on the “Share” screen in the guild menu. At the end of the season, 60% of all season rewards will be distributed to individual players according to their Conquest rank.
The Battle for Season 5
Now that we’re all caught up with each other, let’s break down where we’re at in season 5. SquareXII is firmly in the lead with their members occupying more than the top 30 spots on the leaderboard!
BTB isn’t going down without a fight though, and they’re not too far behind. EPx and GFX could still be players in the top ranks yet with some fireworks in this last Conquest.
Dome seriously dramatic action will need to happen to unseat XII from the Season 5 throne… but unexpected things happen in Conquest.
Conquest Tips
Let’s run down some quick tips and best practices for Conquest.
Even if this is the first time you’re going to join the fight, there’s more battles in the future. Season 6 is just around the corner. Give it all you’ve got this time to sharpen your tactics for bigger battles ahead!
All you seasoned veterans may find one or two things in here to improve your game… no captain knows everything!
Synergy, synergy, synergy…
War Synergy is everything in Conquest. Hunting Synergy does not count in PvP combat.
This is very important. This means your 9m power fire troop will be much less powerful than your 7m light troop with 40% War Synergy. Light and Dark are crucial in Conquest, and don’t mix them in your troops when possible.
No T1s
During normal gameplay, a lot of captains will mix in a few T1s with their troops to absorb any losses they may take. The lowest tier soldier dies first.
Don’t do this in Conquest. It lowers your troop power by a lot, but also your War Synergy. There are no light and dark T1s. If you are very short on high tier soldiers, use T6 light and dark. Make a pile of them the day before Conquest and mix them into your saved troops.
Follow the Leader
If everybody in the guild is doing their own thing, you won’t get very far. Designate rally leaders, then designate backup rally leaders. Listen to your rally leaders – argue about strategy before and after Conquest. Make sure you’ve got at least a few groups working on different goals at the same time, but coordinate them towards one greater goal.
At a last Conquest like this, most players will have at least three if not all four operational slots unlocked. That means you could potentially have your whole guild involved in four battles at once. Some of those troops will get locked up in Ruins scoring points though… be careful to not put all your power into holding ruins and not be able to fight back against attackers!
Defend the Rally Points!
A rally disbands when the rally leader’s fortress warps. This means that if you’re holding the Ring of Ruin solidly with only minutes to go, an enemy can make your rally disband by attacking the rally leader’s fortress.
Save some arrows for when those attackers come. Try to hide your rally leaders if you can. Iif the enemy knows who they are, make sure you can defend them!
In season 1, SXII created a signature strategy to hide their rally leaders!
Don’t forget you can support an ally’s fortress with your own troops! It takes an operational slot to do so and you won’t score any points for your guild from it, but if it saves an entire rally from disbanding it could be an amazing help.
For Elysium!
The battle is almost here. Good luck captains!
Of course Alex and Emma will be back to recap all the action next week. Get out there and give them something to talk about!
Miss the last conquest? Check out the recap below!
When the people of Rewban the Aggressor first colonized the planet of Cacus, they were prepared to forge a new life from the inhospitable terrain of the molten world. As they began excavations, however, it became clear that they weren’t the first to have this idea.
Large ruins were discovered all over the planet, and the new Cusans were more than happy to utilize this treasure trove. Little is known about the lost race that previously inhabited these vast caverns, but the Cusans of today are more than happy to pluck the precious gems from these deep places to trade with the rest of The Planetary Union.
Of course, the Tank Olympiad has found a home in these caverns as well. The heat of Cacus is the perfect venue for Spider Tanks mayhem!
Know Your Battlefield
Dragon Cave is incredibly symmetrical compared to most arenas. While this offers a definite advantage to keeping up your strategy while you’re on the move, it also presents issues for team coordination. A split decision between two Tank Pilots could lead to easy pincer attacks from your enemies.
There are four repair kits at regular intervals around the perimeter of the central ring of Dragon Cave. There are four distinct types of area, each repeated four times in a circle.
Area 1: Satellites
These four circles on the very exterior of Dragon Cave are useful as a sort of redoubt when in trouble or regrouping, but they can also be a cruel trap.
Each of these has three angles of attack clearly pointed at them. Attackers will come at you around the corners or shoot with a longer range weapon across the pit. If you’re playing a shorter range weapon, don’t use these!
These areas are, however, absolutely critical in Chicken Chaser. Make it a point to check the far edges of these circles regularly, as birds will commonly be stranded over here and overlooked by other players!
Area 2: Roundabout Pullovers
These four circles are in between and just inside of area 1’s circles. These are even more congested and wide open than area 1, but they are absolutely critical to maneuvering through the arena.
User these but avoid lingering in the middle of them. When standing in the center of these circles, you can potentially be hit from four different angles. Approaching the edges of these circles necessarily obscures attack from multiple angles due to the pillars on the four corners of these circles.
Consider these transitional places when possible. Stage attacks from here and pull chasing enemies through them, leaving them guessing which exit you’ll take.
Area 3: The Chasm Gap
The small strips between each lava chasm are absolutely critical for dominance of the arena. Each of these is protected by a narrow fence on either side of the chasm, providing a decent amount of cover despite being in the middle of all the action.
Depending on the match, these can either become hotly contested or major defensive bulwarks… and which could shift quickly according to the flow of battle.
Since these areas almost always play a role in how the match plays out, it’s fitting that the Command Point in King of the Hill will spawn on the north most of these areas.
Area 4: The Inner Circle
The inner circle is in theory the most exposed area in the map, but it enjoys incredible cover from the ancient dragon statue towering overhead.
Hugging these walls can leave you covered against half the map, and you can quickly race around the small circle to reposition yourself better than another tank can from any other part of the arena.
Poultry Pusher often becomes the most violent as the payload processes on either side of this area. Even in other game modes though, this will be one of the best angles of attack. With only a few seconds of movement from anywhere in this ring, you can get in position to threaten anywhere in the map.
Dragon Cave Best Practices
Cover Isn’t Always Reliable
Those big, sturdy pillars on the outside corner of the south and west area 2s may seem nice and cozy… but they can be easily shot around from the adjacent area 1s with tiny adjustments to positioning.
Even on the interior, the cover you find in the shadow of the dragon can be easily compromised if an enemy moves perpendicularly away from you instead of straight towards you. A clever bunch of opponents can make those angles close in on you when most of your cover is part of a greater circle.
Enemies Approach Quickly
Thanks to the many ways to wind across the relatively small battlefield, you can get anywhere in Dragon Cave relatively quickly, even with a pretty slow tank.
Get trapped on the satellites and you may have a bad time.
This means that enemies can come from out of view to on top of you fast, and that 8-second respawn timer may be all the delay you get before an enemy is back in the fight.
Mind the Enemy’s Weapons
The weapons that you are up against make a huge difference in any match, but even more so in Dragon Cave.
Here, you’re working with very narrow cover anywhere but the very center of the map. Artillery will follow you anywhere here, and melee weapons will have very little ground to cover before they’re tearing you to pieces.
Glorious Battle
Dragon Cave’s layout is fairly simple, but underneath that lies an incredibly complex nuance to positioning if you really want to excel in this arena.
That’s all we’ve got for this week, next week though we’re powering up for some almighty BOOMs as we dive into everything about the Railgun!
We are thrilled to announce the launch of our GalaChain TestNet, a significant milestone in our journey towards becoming an open-source blockchain. This new public testing environment allows external developers to deploy, test and refine their chaincode without any real-world consequences.
With more freedom to experiment with chain code, developers will enjoy a GalaChain environment that helps them realize their full potential in the web3 world, whether or not they have blockchain development experience. We want to elevate the work of veteran blockchain developers while ensuring that the first-time experience for new devs from the traditional web2 world is a good one.
What is a TestNet?
For those unfamiliar with blockchain terminology, a TestNet is essentially a sandbox environment where developers can experiment with new features and applications. It operates just like the real blockchain (known as the MainNet) but uses test tokens instead of real cryptocurrency. This allows developers to test and debug their projects in a safe space, ensuring everything works perfectly before going live on the MainNet.
In a future blog from our web3 explainer series, we’ll delve more deeply into TestNets, exploring their importance and providing some examples of testnets in action in the web3 world.
Accessing the TestNet
Are you ready to start building using the GalaChain TestNet? Get started through Gala Creators, following the steps below:
Deployment Chaincode from Docker Containers: Developers can now deploy their chaincode from Docker containers to the TestNet environment, enabling seamless integration and testing of applications.
Comprehensive API Access: Users can call the REST API to interact with their chaincode, ensuring full functionality and integration with existing systems.
Redeployment Capabilities: If a deployment fails, users can redeploy their chaincode effortlessly by passing the chaincode name in the command line, streamlining the testing process.
Chaincode Approval and Verification: To ensure security and integrity, chaincode deployment requires approval from GalaChain support, including Docker Image Tag and public keys for both the developer and the chaincode admin.
Accessible Testing Environment: The TestNet environment is designed to be user-friendly, with step-by-step guides to assist developers through the deployment process.
This TestNet launch is a crucial step in preparing GalaChain for a broader influx of external developers. By providing a secure and isolated environment for testing, we are fostering an ecosystem of innovation, enabling developers to create and refine applications that will power the decentralized future.
Why This Matters
The launch of the TestNet is more than a technical milestone; it’s a demonstration of our commitment to building an open and collaborative blockchain ecosystem that goes beyond entertainment into multiple world industries. GalaChain will empower countless developers to experiment and innovate freely, laying the groundwork for the robust applications that will define the next era of decentralized technology.
Join the Revolution
As we continue to expand and refine GalaChain, we invite developers from around the world to join us in this exciting journey.
Whether you’re an experienced developer looking to explore the new possibilities that come with web3, an visionary with an idea ready to change the world when paired with the right technology or an entrepreneur sitting on the next big wave in tech business, we want you to build on GalaChain.
Your creativity and ingenuity are the keys to unlocking the full potential of blockchain technology. Together, we will shape the future of digital interactions to create a more inclusive and decentralized world.
We look forward to seeing the innovative projects that will emerge and thrive from the release of this TestNet. Thank you for being part of the Gala community and for your continued support.
This proposal addresses the need for a more refined emission mechanism in light of factors impacting burn rates. Currently, the halving schedule can result in abrupt changes in token distribution, especially if burn rates cause the supply to decrease beyond what is currently considered a current “tier”. This can lead to an inelegant doubling of token emissions as halving tiers oscillate between emissions tiers. This could disrupt the economic stability of our ecosystem.
A smoother emission curve is proposed to ensure a stable and predictable token issuance, promoting long-term growth and stability.
Proposal Overview
I propose replacing the current halving schedule with a daily emission model. This model would emit 0.25% of the remaining gap between the total supply and the max supply each day. This change aims to create a more predictable and stable emission curve, aligning with the evolving needs of our ecosystem. This is based on a proposal submitted by Lukabylie, the creator of the WEN token.
Proposal Details
Background and Rationale
Factors affecting burn rates can cause the token emission to fluctuate, making the current halving tiers inefficient and unpredictable, especially if a source of significant burns enters the ecosystem. A situation where the emission is oscillating between two “tiers” would be severely suboptimal.
A daily emission model at 0.25% of the remaining gap between the total supply and the max supply offers a gradual and consistent token release, better suiting the current economic realities of the whole ecosystem.
Implementation Plan
Terminate the current halving schedule immediately.
Implement the daily emission model. The emission will be calculated as 0.25% of the remaining gap between the total supply and the max supply.
Following implementation, all documentation will be updated to reflect this change.
Expected Outcomes
Stability: Reducing the market shocks associated with halving events will promote a more stable economic environment.
Predictability: A smoother emission curve provides clearer expectations for node operators and potential investors, aiding in long-term planning and investment strategies.
Governance and Voting
This proposal should be subjected to a governance vote, requiring a majority approval from Founder’s Node operators.
The voting period should last for at least one week, ensuring ample time for all operators to participate and voice their opinions.
Vote Details
Voting Period: Voting will be open for a period of 1 week, starting with the announcement of this proposal.
Eligibility: All Founder’s Node operators (1 vote per Founder’s Node)
Majority Requirement: a simple majority of 51% will be required to pass this proposal.
Vote Question
Should the $GALA dynamic halving schedule transition to a system in which 0.25% of the difference between Total Supply and Max Supply is emitted daily?
Yes: I am in favor of this emission update for more stable and predictable token emissions.
No: I am not in favor of this update and have voted that emissions should remain with the dynamic halving tier-based system.
Conclusion
Transitioning to a daily emission model at 0.25% of the remaining gap between the total supply and the max supply represents the strategic adaptation and evolution of our ecosystem.
I encourage all stakeholders to consider this proposal carefully and ask Gala to put it forward as a vote in favor of a more stable and predictable emission strategy.
