Unique Validator/Delegator Protocol

LycanChain implements a unique Validator/Delegator Protocol to enhance the efficiency, security, and democratic governance of the network. This protocol leverages the strengths of DPoS while introducing innovative features to incentivize participation and ensure the integrity of the network.

1. Validator Role:

   • Validators are responsible for producing new blocks, validating transactions, and securing the network. They are elected by token holders based on their reputation, performance, and reliability.

   • Validators must stake a significant amount of LYC tokens to participate in the validation process. This economic stake ensures that they have a vested interest in the network’s health and security.

2. Delegator Role:

   • Delegators are token holders who are referred by the Validator by burning a certain amount of LYC coins. These delegators delegate their voting power to validators. By doing so, they participate in the network’s governance and share in the rewards earned by validators.

   • Delegators can choose and switch their validators based on performance metrics and community feedback, ensuring that only the most competent and reliable validators remain in power.