V. PROOF OF HYPE - SHILLING CONSENSUS MECHANISM

What is Consensus?

Consensus simply means an agreement between a group of people and in the area of blockchain.

Consensus in Blockchain

Consensus plays a key role in building trust among crypto coin traders worldwide. Due to the decentralised nature of the crypto world, it is essential to have complete transparency while trading a particular coin.

This minimises the chances of a buyer becoming a victim of fraud.

It is important that everyone must know the high level details about consensus regarding blockchain.

Transparency is the key driver in consensus for users.

For example:

Bitcoin works in the Proof of Work Mechanism where it requires a participant node to prove that the work done and submitted by them qualifies them to receive the right to add new transactions to the blockchain, which is very transparent and best among the POW consensus mechanism.

Whereas, Ethereum adopted on Proof of Stake where it involves allocating responsibility in maintaining the public ledger to a participant node in proportion to the number of virtual currency tokens held, which is also very transparent and best among the POS consensus mechanism

A best consensus mechanism is one that fits the needs of the users.

Limitations of Consensus

Each Consensus have their own limitations and problems, but they manage to overcome with the users and trust among people with transparency.

Reason for choosing Binance Smart Chain

BNB Smart Chain achieves faster block and transfer time with a Proof of Stake (PoS) consensus algorithm moreover it uses the Proof of Staked Authority (PoSA) mechanism which is the combined mechanism of POS and POA where participants stake BNB to become validators/gain authority.

But unlike other protocols like BTC and ETH, there is no block subsidy of freshly-minted BNB, as BNB is not inflationary.

But eventually the supply of BNB decreases over time as the BNB team regularly conducts coin burns.

The reason for choosing was as BNB lurks between these two main mechanisms it achieves super fast transactions with very low fees which would be greater for us to maintain our POH (Proof of Hype)

Introducing our new Proof of Hype shilling consensus mechanism

The proof-of-hype introduced by us works under a buildup advance model (shilling) among people to gain the tokens in a discounted price.

The proof-of-hype solves the problem of not gaining the momentum in the market among other majority crypto projects.

The Holders and Stakers are the validators and authorities here to allow the vault to get accessed and make use of $MASS tokens into Auction.

In order to get eligible the bidders should buy and hold $MASS token and minimum funds for placing the bid.

Financial rewards are tied to the Auction Validators/Stakers who tends to promote our Auction and make it a successful one through which both ends succeed the Hype needed.

No single person can win over 10% of total Auction. Together these Auction and Revenue from Auction form a virtuous cycle that reinforces the liquidity to be added towards SLB integrator so both decentralisation and performance of our token achieves a greater visibility. The unsold tokens in Auction will be burnt to maintain the demand.

In-order to maintain the liquidity our automated SLB integrator adds the required liquidity to maintain a stable price in the market even after these discounted hype Auction.