What are the features of Starcoin based on PoW consensus?

Published at February 8, 2023 By Starcoin.


As a Proof-of-Work consensus public chain, Starcoin offers a suite of exciting features that set the network apart from other public chains. Some of these features are improvements based on the deficiencies of the traditional PoW system, while others are simply products of excellent design and innovation.

In detail, the traditional PoW mechanism, proposed by Satoshi Nakamoto, has been criticized for its lack of scalability due to a slow transaction confirmation process. As a solution, Starcoin offers an enhanced PoW system and a scalable second layer as part of its features.

First, Starcoin’s enhanced version of PoW consensus addresses scalability using an uncle block rate. This mechanism makes it possible to detect network congestion and dynamically adjust the block-out time, difficulty, and block-out rewards. This dynamic adjustment enables the consensus system to balance throughput and congestion, reducing network security risk and improving user experience.

Secondly, Starcoin designs and implements its second layer as a solution to securely connect people, limit network congestion, scale decentralized applications and transactions, and generally offer users a seamless blockchain experience. In this way, Starcoin demonstrates its value for integrating web3 with real world utility.

Additionally, as part of its PoW improvements, consensus-related principles on Starcoin can be addressed via community governance. The process ensures that the wisdom of the community is fully utilized based on the absence of an entry threshold to the various positions of the governance process. It becomes easier to register users’ input, unlike in most on-chain governance systems, where the extent of participation is determined by the amount of coins users hold, often leaving governance to coin-rich whales.

Another exciting feature of Starcoin is the use of the Move Programming language. The Move is a linear logic smart contract language with resource-oriented programming and security enhancements. Move prioritizes the safety of assets by ensuring that digital assets cannot be cloned, enabling clear ownership and maintaining digital resource validity. These qualities make it the ideal choice to protect Starcoin from common vulnerabilities like overflows and lower the threshold for developers to build on the existing technology. Most of all, Starcoin is the only PoW consensus-based public chain in the Move ecosystem.

Other features of Starcoin include operational innovations such as using STDLIB to enable users to design their applications easily; and formal verification tools supported by Move’s resource-oriented programming to enhance security.

The list includes highlights like efficient status fees, incentivized on-chain ecology, first-class Citizen resources, dual Merkle Accumulator, etc.

Altogether, the features of Starcoin make the project a force to reckon with as blockchain continues to gain an audience from prominent industry players.