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Coinbase-Backed Decentralized Social Blockchain (DeSo) Revolutionizes with New Proof of Stake System

Press Releases Crypto News CryptoDaily UK Coinbase-Backed Decentralized Social Blockchain (DeSo) Revolutionizes with New Proof of Stake System

Los Angeles, California, 24th March, 2023, Chainwire

DeSo, the decentralized social media blockchain, has introduced a groundbreaking Proof-of-Stake (PoS) system, setting a new standard for the industry. This innovative technology promises to revolutionize and build upon the successes of previous Proof-of-Stake systems, providing greater energy efficiency and security while making its native currency, $DESO, deflationary.

Implementing this new Proof-of-Stake system marks a significant milestone for the DeSo Blockchain, a new layer-1 that raised $200 million from Sequoia, Andreessen Horowitz, Coinbase Ventures, and more.

DeSo’s state-of-the-art system combines and refines all of the best elements of earlier PoS systems, including Tendermint, HotStuff, DiemBFT, Ethereum, Solana, Avalanche, and Flow.

It was aptly named “Revolution” because of its revolutionary new features that build on the successes of previous mechanisms of other leading layer-1 blockchains. One of the most exciting new features is a new concept called Revolt.

“Revolution represents a major breakthrough in the blockchain industry. Our new concept, Revolt, not only makes Revolution one of the most censorship-resistant systems in existence but also addresses a major issue with existing smart-contract systems – miner-extractable value,'” said

Nader Al-Naji, founder of DeSo.

Nader Al-Naji added, “We’re excited to introduce roughly a dozen distinct breakthroughs over existing proof-of-stake mechanisms with Revolution. These breakthroughs are arguably worthy of their own distinct academic paper.” Al-Naji’s statement highlights the significant advancements that Revolution has made and its potential to drive innovation in the blockchain space.

Like the Ethereum PoS system, DeSo’s Revolution PoS requires validator nodes to lock up a deposit of $DESO on the network to participate in consensus. Using crypto as collateral compels the nodes to behave appropriately and helps keep the network secure.

Other exciting features include:<

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Author: Crypto Daily

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