Type-1 (validator) nodes are responsible for creating the blocks in the blockchain and managing smart contracts and get a reward.
TYPE-1 NODE & TYPE-2 NODE
There are multiple types of blockchain nodes in the Unova network.
There are two types of blockchain nodes in the Unova network.
Unova currently uses a Proof-of-Authority mechanism to determine which node gets to create the new blocks. Trusted authorities currently host these nodes in the food industry, and several clients wishing to host one in addition to the Type-2 (enterprise) node. In the next update, we will transition to a Proof-of-Stake mechanism after rigorous testing. Once this is implemented, the node that gets to add the following block to the blockchain is determined based on the stake in the wallet linked to the validator node by creating staking pools. This means the system will never require much computing power or electricity compared to a Proof-of-Work mechanism. This ensures the sustainability of the system while still maintaining the highest level of security and immutability.
Organizations can choose to operate both a Type-1 (validator) node and a Type-2 (enterprise) node. Operators of Type-1 (validator) nodes are rewarded for creating blocks. In most use cases, hosting a Type-2 (enterprise) node is sufficient as this allows the organization to make use of our platforms and distribute their data.
In this multi-node type system, each node has it’s function. The Type-1 (validator) nodes validate transactions and add them to the blocks. There are multiple smart contracts deployed responsible for creating transactions with:
- assets/events + data.
And to create financial transactions between wallets. These nodes manage the blockchain and everything related to the most core blockchain concepts.
Privacy-Enabled Distribution Protocol
A layer 2 scaling solution for distributing data between stakeholders. This includes company-hosted nodes, and is enabled by smart contracts, hashing techniques and validation protocols.