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On this page
  • Consensus Mechanism
  • Security Audits & Updates
  1. Product
  2. ThirdFi v2
  3. Technical Overview

Consensus and Security

Consensus Mechanism

  • Proof of Stake (PoS): Nodes participate in the consensus process by staking a certain amount of tokens, which helps secure the network. Nodes are chosen to create new blocks based on their stake, promoting fairness and energy efficiency.

  • Slashing: To discourage dishonest behavior, nodes that act maliciously or fail to fulfill their responsibilities can have a portion of their stake "slashed" or removed.

Security Audits & Updates

  • Regular Audits: Continuous security audits are conducted to identify and mitigate potential vulnerabilities in the smart contracts and node software.

  • Dynamic Updates: The blockchain supports on-chain governance for dynamically updating network protocols and algorithms to respond to emerging security threats or performance bottlenecks.

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Last updated 1 year ago