4th Generation Digital Asset
AOK Network - 4th generation digital asset
AOK secure security succeeding to the blockchain technology of bitcoin admitted as a most conventional and stable. And through the PoS 3.0 consensus algorithm solve the problem of PoW pattern what is the consensus algorithm of bitcoin and supplement bitcoins’ slow transfer speed ensuring the fast transfer speed 20minutes to 1minute. And through using the most improved algorithm PoS 3.0 have the character of more economic and safe block verifying efficiency structure than bitcoin and Ethereum.
Security of ‘Proof of Stake’ is already proved through tests for many years. PoS 3.0 of AOK solves the CoinAge and pre-calculation on block reward and blockchain problem at the same time. PoS 3.0 protocol is strong and encourages evitalized node to keep contacts on the network. In this document mention the security issue of preexistence and offer a solution. And describe the idea which improves the security of AOK.
In the blockchain system, every network participant holds the same data, no distinction between original and copies by saving distributed same data, and there is no center that makes the same decision. In this condition, several algorithms were invented to make rational and efficient decisions. With those algorithms, distributed ledger makes data consistent. There are PoW patterns, PoS patterns, and DPoS patterns in consensus systems.
On bitcoin - a typical PoW coin - network system, Minors participate in verifying procedures. The miner calculates the hash value, finds the block, reports it to the network, and the mining proceeds through the block compensation accordingly. This PoW consensus algorithm adopts the concept of dynamic difficulty to constant block creation. It starts when the hash power of each node fluctuates. if the hash power increases, then the calculating difficulty raises. And calculating difficulty goes down when the hash power decreases.
That means that, the less computing power to get mining profit, the lower mining difficulty, and vice versa. As competition in mining cryptocurrency gets emulous, the mining difficulty keeps increasing. Increasing mining difficulty goes to spending more hash power. And it is difficult to mine cryptocurrency using the same amount of hash power. Also, the higher difficulty comes along with the more hash rate than before to get the same amount of blocks. Mining at the same level as in the past requires significant investment, including ongoing performance upgrade costs and huge electricity costs for mining equipment. This inevitably led to a waste of resources.
Solving the problem - The Byzantine Generals Problem -, Bitcoin proves that a ‘Peer-to-Peer network’ is the solution that can prevent counterfeiting. Since then, several cryptocurrencies have been made based on the open-source released by Bitcoin. AOK, also, following stable open-source released by Bitcoin, was made adding new necessary features. Following the rule of open-source, AOK is a Public Open Source Public Blockchain that uploads edited source code to its own GitHub channel.
The PoS 3.0 consensus algorithm introduced by AOK has the virtue of avoiding wasting power and equipment cost caused by excessive computing power. By introducing PoS 3.0 logic based on the latest Bitcoin core for the basic consensus system, AOK conducts a reasonable and economic method of block making. Because common PoS consensus logic has several security issues like Coin-age, AOK introduced improved PoS 3.0 consensus logic.
The idea of PoS was first implemented in PeerCoin, which then evolved from BlackCoin to the concept of PoS 2.0, and later some cryptocurrency platforms, such as QTUM, developed into the PoS 3.0 algorithm. PoS' equity evidence is inherently replaced by competition in coin holdings between coin holders and can be probabilistic compensated based on network connectivity and random coincidence. The probability of compensation depends on how many coins are steaked, after some bulk of the stake gets compensated, keeping it from participating in the validation for a certain period of time and avoiding the large stakes’ monopoly. This presents a new challenge to network security while solving Bitcoin's energy waste problem. AOK aims to realize technical implementations of the benefits of this protocol, respect existing theoretical founders, and also compensate for potential improvements and shortcomings. AOK decided to implement the PoS 3.0 consensus algorithm, judging that PoS 3.0 is currently the safest and most advanced efficient block generation method, leading to production.
The added memorable feature is a realization of Multi-signature Staking. The shortcoming of many PoS algorithms is that they support a stake with a single key. Therefore, it has become important to have an account participate in network security as long as it uses a single escrow system, also known as a "double escrow," and a more secure dual-key account.
There is also a way to use P2SH. P2SH (Pay To Script Hash) is a concept that pays for a script hash rather than for a public key, which allows transactions to be sent with a script hash instead of a single public key hash. This Multi-signature Staking is important because, in a single key account, a hacker can use the key logger to find a password and damage the wallet while it is unlocked for steak.
Users put a signature key in the output named address and stake it sending the transaction.
This allows submitting all inputs, which gives AOK great advantages in software, voting, and "Cold Staking". Cold Staking technology requires multiple computers, basically, if multiple signature inputs are suitable for staking, the signature is split between multiple computers. This makes it virtually impossible to hack accounts, even if one key is compromised, because it is in completely different locations on the local network or on multiple servers, and this technology is already being implemented in the latest release of BlackHalo.