NEW YORK, NY / ACCESSWIRE / June 17, 2021 / Thinkium is a public blockchain infrastructure aiming to facilitate Internet level large-scale applications and bridge the physical world and the digital world to launch the era of Web 3.0. It announced to launch a unique POS consensus mechanism called Themis Network.
Themis Network, a comprehensive governance mechanism, is based on the governance mechanism involving all network users. Each user voting (referendum) has a corresponding specific ‘proposal’, which is a transaction to be executed. However, the execution of such a transaction is not by verifying the signature, but the verification of the referendum result.
There are several types of user participation in governance: foundations, committees, DSO, DAO, and general accounts. The proposals are also divided into the following categories: the proposals put forward by foundations, the emergency referendum proposals jointly put forward by foundations, committees, DSO and DAO based on combined consideration, and the public proposals won by public votes.
All users can vote ‘yes’ or ‘no’ during the referendum on each proposal by pledging their voting power. At the end of the referendum, the rules will determine whether the proposal is approved or not. There can be at most one ongoing referendum at any time, except the case of one additional emergency referendum.
Under the Themis Network consensus mechanism, the threshold for Thinkium public chain to participate in building nodes is also greatly reduced. Users can join the construction of this great public chain- Thinkium in the form of pledged assets.
Many popular blockchain projects after Ethereum, including Thinkium, Grapefruit, Cosmos and others, adopt POS-like consensus mechanism.
First of all, POS saves resources. Moreover, under the POS mechanism, the attacker needs to bear a large cost. Last but not least, under the POS consensus mechanism, the threshold for Thinkium public chain to participate in building nodes is also greatly reduced.
Different from other public chains, the proposal in the Themis Network of Thinkium is a transaction to be executed, which is similar to the governance of compound and other protocols. It can greatly simplify the governance process, and does not need to vote on the same proposal repeatedly.
A fair community environment is established through Themis network, a management mechanism that enables votes from all users.
CONTACT:
Sarah Smith
Media Contact: media@thinkium.io
Website: http://thinkium.io/#/
SOURCE: Thinkium
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https://www.accesswire.com/652239/Thinkium-Announced-To-Launch-a-Unique-Pos-Consensus-Mechanism-Called-Themis-Network
