Proof of Trust Consensus Mechanism
The Proof of Trust (PoT) consensus protocol lies at the heart of Trustok. Unlike traditional consensus mechanisms, which rely on computation power or token ownership, PoT uses reputation-based validation to establish trust between participants in the network.
How It Works:
Decentralized Identity Management: Each participant in the Trustok network is given a digital identity, verified through decentralized methods like self-sovereign identity (SSI).
Trust Score: Participants earn trust points by engaging in valid actions such as processing transactions, providing helpful feedback, and maintaining high ethical standards.
Transaction Validation: Transactions are validated by participants who have earned enough trust, ensuring that only those with a proven track record can approve critical actions.
Smart Contract Execution: Smart contracts can only be executed by trusted participants, ensuring fairness, security, and transparency.
Key Components:
Decentralized Identity (DID): Ensures that each participant has full control over their digital identity.
Trust Score: A dynamic reputation score based on a participant’s past actions and behavior.
PoT Validator Nodes: Trustok’s nodes that validate transactions and execute smart contracts based on trustworthiness.
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