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Nowadays, blockchain technology is developing rapidly. Many companies have launched their own applications. Some companies also claim that their technology is leading and the leader of the entire industry. This is the Xiaoyi Blockchain. Many people I think this statement is too confident. So what is the actual situation? Please see the analysis below!

Xiaoyi is a decentralized network protocol based on blockchain technology that digitizes assets and rights in the physical world and conducts financial services such as registration and issuance, transfer transactions, clearing and delivery through a peer-to-peer network. Xiaoyi can be used for equity crowdfunding , P2P online lending, smart contracts and other fields.

The Xiaoyi consensus mechanism enables each node running the Xiaoyi protocol to reach a consensus on the current blockchain status, and determine the bookkeeper and its number through voting by equity holders; the selected bookkeeper completes each The consensus on the content of the block determines the transactions included in it.

The accounting mechanism of Xiaoyi is called neutral accounting. PoW/PoS/DPoS solves the problem of who has accounting rights, while neutral accounting focuses on solving the problem of how to limit the rights of the accountant. In neutral accounting Under the consensus mechanism, bookkeepers only have the right to choose whether to participate, but cannot change transaction data, artificially exclude a transaction, or artificially sort transactions.

Yi’s neutral accounting blockchain can do:

1) A block is generated every 15 seconds, which is expected to be less than 5 seconds after optimization;

2) A single bookkeeper cannot refuse to include a transaction into the current block;

3) Each confirmation involves the participation of all bookkeepers, and one confirmation is a complete confirmation;

4) Combined with the superconducting trading mechanism, bookkeepers cannot make profits by structuring transactions to conclude transactions first.

Yi equity holders can initiate a bookkeeper election transaction and vote for a selected number of candidate bookkeepers (1 to 1024). It is generally believed that the bookkeeper should be real-named, and the candidate bookkeeper should provide a digital certificate that can prove his or her true identity through other channels.

The Yi protocol counts all votes in real time and calculates the current number of required bookkeepers and the list of bookkeepers. In order to determine the number of people required for accounting, all votes are sorted by the number of supporters, the middle 50% is taken according to the weight of the equity held in Xiaoyi, and then the arithmetic mean is calculated. When the number of people is less than the minimum standard, the backup bookkeeper preset by the system will be used to take over. After the required number of bookkeepers is determined, the list of bookkeepers will be determined based on the number of votes obtained from high to low.

What is the Yi consensus mechanism? Through the editor’s careful introduction above, it can actually be seen that the Yi blockchain has indeed come to the forefront in many aspects, so it is okay to promote it in this way, but the actual effect still needs to be tested by the market, so for this point , let’s go to the market and have a look!