NYZO is a completly novel and innovative blockchain, developed from scratch to deliver a robust, fast and especially energy efficient operational network. We all know or atleast have heard about Bitcoins enormous energy consumption generated through Proof-of-Work (PoW) – NYZO solves that. With Proof-of-Diversity (PoD) a fully new approach is used to reach consensus – secured by time and diversification.
Proof-of-Diversity (PoD)
So, how does it work?
The NYZO network (Mesh) is built from “verifiers” verifying new blocks every 7 seconds in a circular order. The mesh is separated in two groups – the so called “in cycle” and the “queue”. In cycle verfiers are building the actual blockchain network and generating earnings through verifying blocks in circular order, while verifiers in the queue are waiting to join the cycle.
Every two full cycles, a new verifier is chosen to join the cycle by receiving votes from in cycle verifiers. This process is fully automatic and random and every verifier has the same probability to join the cycle. This mechanism guarantees the greatest possible diversification.