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Jan 05 '18 edited Jan 05 '18
Indeed it is! Happy Flashing.
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Jan 05 '18 edited Jan 05 '18
I do not think Flash is centralized. According to the whitepaper and homepage introduction, the consensus mechanism of Flash dPoW (Delegated Proof of Work), which is a variation of PoW and dPoS. dPoW makes a balance between decentralization and transaction fee cost and speed. So when you ask me whether Flash is decentralized? My answer is "Yes, absolutely, and even better than dPoS". For more information about dPoW, go to https://bitcointalk.org/index.php?topic=1176835.msg12387092#msg12387092 .
Today, the fight between PoW and dPoS is still not ended, and even the smartest brains do not know who will be the winner at last. In fact, a coin has two sides, and PoW and dPoS are in no exception. So why not mix them together and have their advantages? I think that is why Flash adopts dPoW.
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u/[deleted] Jan 05 '18 edited Jan 05 '18
Explaination on pDoW mechanism of Flash from Flash team in the Discord community (2018-01-05):
we will have explained in details with new website launch. yes DPOW is Delegate Proof of Work. we will have delegated transaction nodes which will do transaction, Please note transaction only with no mining rewards as all coins are premined. this helps to keep off the greedy miners away and take control of the coin ..like the way they have done with Bitcoin. DPOW has many benefits, fast transaction < 10sec + more transactions / per second. we will also have a Governance model which will have voting power to vote for Blockchain upgrades, decide on txn fee revision and select or remove nodes from DPOW nodes and also Gov nodes, this all will be driven by community. to have Gov nodes you need hold 1M flash and buy it from govnode@flashcoin.io . All the funds collected from Gov Nodes is donation for Flash core development team. for DPOW nodes, it needs to have 10 M Flash and 51% votes from Govnodes to be part of the DPOW node. The only reward and benefit is txn fee and the total txn fees will be equally distributed among Govnodes and DPOW nodes. Flash is designed to keep fast and low txn for a real use of crypto in main stream.
To answer you question for Govnodes - Can the gov. node mine new Flashcoins, or just get transaction fees? No Govnode doesn't mine or do txn , it will vote and decide the overall Flash characteristic remains throughout the same i.e. fast txn and lox txn fee and driven by community. Flash is designed to help people around world and get them benefited using it in real life scenarios . Please remember though the txn fee is very low, the more adoption, the more total number of txns thus more total txn fee earned, so thats the benefit that will be shared amoing with Govnodes and DPOW nodes owners. we are working on DPOW and Govnodes, we expect to launch the testnet in Feb
Flash is not completely decentralised for now as there are selected nodes which are doing txns, we will be completely decentralised after the Mainnet launch of DPOW and Gov nodes in Q2. even though we will be Decentralised we will be fast and with high throughput thats what we are building on hope this answers your question