Libonomy Consensus Algorithm

Process of Consensus algorithm In simple terms

• Node joins the network
• Different aspects considered to evaluate Node’s performance capabilities
• Node’s power index is submitted to consensus
• Algorithm assigns the Node to one of four different pools
  a. Power pool is the main pool, it’s where the transactions are verified and validated
  b. Exploit finding pool runs security check-ups on the nodes and look for any issues
  c. Audit pool takes care of applying rules and regulations in the network
  d. Maintenance pool is place for Nodes not yet used directly in the network, associated as backup
• Whenever transaction is received, the state engine machine distributes it amongst all the nodes after our AI agent checks whether any autonomous decision could be made or not.
• Nodes start to verify transaction by distributing resources amongst the network via our multi-level gossip protocol and distribution and acceptance algorithm.
• At the end of the cycle, the algorithm checks the agreement of the nodes on the transaction’s validation.
• EF and Audit pools are there to make sure whether there was any abnormality occurred in the whole cycle and if occurred then the whole cycle is reiterated in the different pools with different sets of nodes.
• Whole data set of the cycle is submitted to state engine to make future verifications more agile and robust.
• Nodes are awarded depending on their contributions to the network, their time spent on the network and their trustworthiness.