The Functions of Blockchain Wallets (Part 3)
At present, in some public chain designs, users in the ecology are encouraged to participate in the public chain ecological construction. The main forms are ‘voting, referendum and staking.’
voting
Taking EOS as an example, EOS has 21 super nodes, and users can vote to 30 nodes(maximality) by staking EOS in their accounts. The purpose of voting is to allow users to choose nodes that can accelerate the development of the EOS ecosystem.
referendum
Referendum means that participants can initiate proposals that are good for the community. Holders of the entire blockchain can vote .When the number of votes exceeds a certain number, the proposal takes effect automatically. The referendum is beneficial to the participation of community users in blockchain governance.
staking
At present, some public chains encourage token holders to pledge token by staking,which will create stable nodes. For example, users can pledge COSMOS to obtain a certain amount of profit per year,it’s similar to the investment of a current account in a bank.
