1. Delegated Proof of Stake (DPoS): Delegated Proof-of-Stake (DPoS) consensus is a fast, efficient, decentralized, and highly flexible blockchain design. Delegated Proof-of-Stake is designed to consume less power than mining through a Proof of Work protocol which can be expensive to run. In DPoS systems, users ‘vote’ to select ‘delegates’ (other users they trust to validate transactions on the network). Upthinity delegates are incentivized to run the nodes that process and validate the transactions that pass through the network by receiving a portion of the transaction fees, as well as block rewards. Delegates then share a portion of the transaction fee rewards they receive with the community members that voted for them. Upthinity will scale up the number of Delegates that will validate on the network as transactional volume increases, up to a set number of Delegates allowed to participate.
2. Proof of Action (PoA):The second way members can earn through the Upthinity platform is by actively using the platform. The consensus protocol will validate:
- Suggested actions you take via social
- Suggested profile actions you take
through the Upthinity dashboard
Once you take action (and it gets validated), you can unlock the rewards and tokens reserved for you.