Innovative Solutions

✅ For a system to work independently and reliably, the selection of validators of a block, as well as changes in the blockchain must be confirmed by consensus mechanisms

✅ Consensus mechanisms are applied for the verification of information before it is added to the chain

➡️ Consensus mechanisms contribute to the prevention of creating and spreading Fake News, since they ensure that only legitimate transactions are stored on the blockchain

👍🏼 enables agreement on the state of all information recorded on a blockchain

💰The creation of blocks is rewarded with cryptocurrency ➡️ Incentive to create more blocks and to build a safe network!

🚫The energy spent by a miner, who requires 51% of the mining power to tamper the network should outweigh the profit he could gain on an attack

💰⏰ Here, the probability to be selected as a validator increases with the amount of the stake or other factors

🚫 Network tampering is unattractive, since attacks on the network are sanctioned with deduction of assets and…

🚫…owning 51% of the total stake, e.g., money in the network, is required to tamper the network ➡️ could be a large amount of money

⬆️ To further leverage the mitigation of Fake News by validating wrong information PoW and PoS can be combined

🚫 Therefore, if the majority of collective resources, consisting of e.g., computational power and stakes, e.g., coins, is hold by honest players, a network can defend itself with honest stakes against players, who own more than 50% of computational power

👨🏼‍🦱👩🏻 Stake hold by a user in a network is not monetary, but relies on the validator’s identity

🚫 Setting high standards of selection could reduce malicious behavior and thus, the creation as well as dissemination of Fake News

no third party needed to determine the credibility of news, since this is done by the peers of the blockchain

⬆️ This combination increases the power of honest users

👊🏼 System can defend itself with honest stakes against players controlling more than 50% of e.g., computational power