Technical Features:
Firstly, instead of the existing model, PoW (Proof-of-Work or PoS (Proof-of-Stake), we developed a new consensus model to prevent unnecessary forks. This new model is called PoF (Proof-of-Formulation) in which consensus is made on block mining procedure and blocks are generated in a designated order. This allows block’s dissemination range to be reduced, resulting in faster block generation and dissemination. Moreover, the observer node enables instant confirmation and prevents fork. In turn, the network becomes stable and transaction speed is increased.