One World Chain Token Docs
  • Summary
  • DOCUMENTATION
    • Learn about the OWCT Platform
      • OWCT Overview: vision, strategy and platform components
      • The OWCT Blockchain
        • Discovering the Network
        • OWCT Consensus
        • Delegation through Staking with Validators
        • Ethereum (EVM) Compatibility and Smart Contracts
        • Boosting OWCT's Scalability
      • OWCT
        • OWCT Tokenomics
        • Wallets Supporting OWCT
        • OWCT on Other Chains
      • Interoperability
      • OWCT Governance and Development
        • OWCT Assembly
    • OWCT for Business
  • Developers
    • Network Details
      • OWCT Mainnet
      • OWCT Testnet
      • Token Faucets
      • Network Upgrades
        • Upgrade Guide
        • Upgrade Guide (explorer nodes)
        • Block 13,800,000 Fork
        • FIP's
    • OWCT Consensus
      • Contracts Overview
      • Stake, Delegate and Withdraw
      • Vote
      • End-of-Cycle Flow
      • Contract Addresses
    • How to run network nodes
    • Resources & Tools
      • TheGraph
      • WalletConnect on OWCT
    • Important smart contracts
      • OWCT Token
      • OWCT Dollar
      • Major Deployed Contracts
      • Bridges
        • OWCT (Mainnet) <=> OWCT (ETH)
        • OWCT (Mainnet) <=> OWCT (BSC)
        • OWCT (Mainnet) <=> OWCT (BASE)
        • ETH (Ethereum network) <=> ETH (OWCT network)
        • USDT (Ethereum network) <=> USDT (OWCT network)
        • USDC (Ethereum network) <=> USDC (OWCT network)
        • BNB (Binance network) <=> BNB (OWCT network)
    • How to become a validator
      • Getting started as a validator
      • Getting started on the OWCT testnet
  • Links
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On this page
  • Consensus - 0x73D22450B43adc1f67e08e983664323d67cE62b4
  • Block Reward - 0x095bB268A7D771d0EC805E8748114DC3dB69BF48
  • Voting - 0x1F7238805a561C6AfD9fE48c64d4B5a9274b37E2
  • Proxy Storage
  1. Developers

OWCT Consensus

PreviousFIP'sNextContracts Overview

Last updated 9 months ago

Consensus is a fault-tolerant mechanism that is used in blockchain systems to achieve the necessary agreement on the single state of the network. OWCT network is using a (DPoS) consensus model. DPoS is a variation of consensus. In PoS there are a set of validators that are responsible for keeping the network updated and validating the network's state. They do this in turns, every validator has their turn in line. On their turn the validator updates the network's state, and the rest of the validators check that the update is valid.

Consensus contract is used to manage the list of the network validators and delegators

BlockReward contract is calculates the reward amount that validators and delegators will receive on each block validation. The reward size is proportional to validator's stake.

With Voting contract validators are vote on various changes on these 3 base level contracts. All those contracts are proxied with implementation that handles the logic. The implementations can be changed only by the Voting process.

The bridge is used to transfer the OWCT native token between OWCT and Ethereum networks.

This contract is responsible for handling the network DPos consensus. The contract stores the current validator set and chooses a new validator set at the end of each cycle. The logic for updating the validator set is to select a random snapshot from the snapshots taken during the cycle.

The snapshots are taken of pending validators, who are those which staked more than the minimum stake needed to become a network validator. Therefore the contract is also responsible for staking, delegating and withdrawing those funds.

Stake amount for a validator is the sum of staked and delegated amount to it's address.

This contract is based on non-reporting ValidatorSet.

minimum stake amount = 5,000 OWCT token

cycle duration blocks = 57600 (approximately 2 days)

This contract is responsible for generating and distributing block rewards to the network validators according to the network specs (0% yearly inflation).

Another role of this contract is to call the snapshot/cycle logic on the Consensus contract

This contract is based on BlockReward.

This contract is responsible for opening new ballots and voting to accept/reject them. Ballots are basically offers to change other network contracts implementation.

Only network validators can open new ballots, everyone can vote on them, but only validators votes count when the ballot is closed.

Ballots are opened/closed on cycle end.

max number of open ballots = 100

max number of open ballots per validator = 100 / number of validators

minimum ballot duration (cycles) = 2

maximum ballot duration (cycles) = 14

This contract is responsible for holding network contracts implementation addresses and upgrading them if necessary (via voting).

Consensus - 0x73D22450B43adc1f67e08e983664323d67cE62b4
Block Reward - 0x095bB268A7D771d0EC805E8748114DC3dB69BF48
Voting - 0x1F7238805a561C6AfD9fE48c64d4B5a9274b37E2
Proxy Storage
Delegated Proof of Stake
Proof of Stake