PBSA is excited to release Peerplays 1.5.x beta to public TESTNET. This release introduces Gamified Proof of Stake (GPOS) consensus algorithm to Peerplays TESTNET. In addition to GPOS, we have a large number of security, performance and general enhancements shipped with this release.
For more info on this release click here.
The Peerplays blockchain uses Gamified Proof of Stake (GPOS) as the means to maintaining blockchain security while incorporating the human design elements necessary for effective voting mechanics.
By participating in GPOS you are staking your PPY for a period of 30 days. After the 30 day time period, you may request to withdraw the staked PPY. During the staking period, you will be capable of participating in the voting of node operators and other important functions within the Peerplays ecosystem. Advisors, Witnesses, new Proposals, SONs, and other types of nodes and providers that make up the Peerplays ecosystem will benefit from your votes.
For your contribution in helping secure the blockchain, you will receive Participation Rewards. These rewards are based on the amount of PPY you have staked relative to the rest of the network distribution. Participation Rewards are given out each month and are based on the collective activity (i.e. blockchain fees) on the Peerplays blockchain. As more value comes into the network, this is sent to you as a reward for helping make it happen.