Consensus Mechanism and Incentive Scheme
The Proof of Participation consensus mechanism proposed is based on a resource allocation module where the participants in transaction or value transfer constitute the nodes and the network. The user π’ is the initiator and the nodes π will be used as the verifier on the network. Hence,
πΉ=0 βπ={πΊ1,πΊ2,πΊ3,πΊ4} (29)
Where πΉ: Friction π : Validator πΊ : Groups of (i) smart contract accounts, (ii) transactions, (iii) receipts, and (iv) others
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