Leasehold consensus mechanism and wallets

In the blockchain industry, various tokens exist. These tokens have little or massive tweaks that distinguish them from bitcoin. They also have specific niches that drive their operations. However, one thing that is common to all is the presence of a consensus mechanism. This describes the process by which transactions are confirmed within a blockchain, and the consequent creation of new blocks.

The leasehold blockchain is no different. It has a consensus mechanism that helps network contributors to achieve consensus. Unlike bitcoin and dash that utilize proof of work and proof of stake consensus protocol respectively, leasehold employs the use of the Delegated Proof of stake to attain network consensus.

The Delegated proof of stake protocol of leasehold.

The Delegated proof self stake (DPOS) protocol is an extension of the proof of stake mechanism. It is quite flexible and can be changed to fit the blockchain system it is adopted. In this mode of consensus, nodes are assigned the role of system maintenance. This involves the confirmation of transactions and the consequent adding of new blocks.

All the network’s token holders are liable to a vote each, to elect the delegates. These vote have a consequent weight which is totally determined by the amount of LSH token held. The leasehold network uses 39 delegated account to attain consensus.

These elected nodes are voted due to the activity within the system. Other delegates exist also, but they are tagged the standby delegates. There is a possibility of them advancing into the selected 39 if they are voted by other token holders. In any cases of irresponsibility from the delegates, votes can be withdrawn from them

Importantly, to be considered for voting by token members, hinges on a few factors. Yet, uptime is the most crucial of all. Delegates are rewarded for their uptime, because it is used to note the reliability of a node. Delegates are also expected to be online at all times to ensure their is no delay in the confirmation of transactions.

Leasehold Wallet

As a cryptocurrency holder, it is necessary to make a decision as regards token storage. Wallets in the world of cryptocurrency can be likened to a purse. Although virtual, it helps to safe guard one’s asset. The leasehold network has a custom wallet that is available for the safe keeping of LSH token. The wallet is available for MacOS, Windows and Linux. It is a safe place to keep your wallet as maximum security of tokens is guaranteed. It can be downloaded on the wallet interface of the leasehold platform.

Conclusion

The leasehold network being focused on property rental is participants inclusive. All participants are given the platform to make decisions. More so, an incentive of LSH is in place for these active participants. Also the consensus mechanism adopted will ensure network security and sustainability. Therefore, it will be no surprise if this crypto takes over the real estate industry in years to come.
The system incorporated wallet is also a measure to ensure tokens stay above the grip of third party attacks. Therefore if you invest in the leasehold, be sure to get your profit and also security for your assets.

USEFUL LINKS

Website: https://leasehold.io/

Telegram: https://t.me/Leasehold_Bounty

Twitter: https://twitter.com/leaseholdHQ

Facebook: https://www.facebook.com/Leasehold-101658667937642/?modal=admin_todo_tour

Reddit: https://www.reddit.com/user/Leashold

AUTHOR'S DETAILS

Bitcointalk Username: chuksmy

Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2635666