> For the complete documentation index, see [llms.txt](https://okatex-whitepaper.gitbook.io/okatex-whitepaper-v1/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://okatex-whitepaper.gitbook.io/okatex-whitepaper-v1/consensus-of-okatex.md).

# Consensus Of Okatex

**What is Blockchain Consensus Mechanism?**\
The consensus mechanism is an algorithm in computer systems and blockchain systems to agree on the addition of new data in them. Consensus means a condition of a decision that has received agreement from all participants in the network. There are three basic features in a consensus protocol that determine the efficiency of the blockchain. The three features are real-time valuation, security and fault tolerance. Without intermediaries, the network of users developing the system must agree on the correctness and add it to the ledger. Consensus must be accessible to the majority of node users in the network. The main goal of the Okatex consensus protocol is to allow nodes to communicate among themselves. The Okatex protocol also offers a set of transactions that receive validation to enter the ledger.\
\
**What is Proof of Stake (PoS)?**\
Proof of Stake is a consensus algorithm developed since 2011. This algorithm is prepared to be a replacement for the Proof of Work algorithm because it carries a more efficient concept. Proof of Stake is a concept in crypto asset investment where you as a user can mine or validate transactions according to the number of coins you hold. This means that the more coins you have, the greater the mining power. This method was created with the aim of preventing users from being able to mint additional coins that they did not earn. Apart from that, Proof of Stake is a method that is considered an alternative to the Proof of Work system. The reason is, PoS can provide a narrow gap for crypto asset miners to attack and even manipulate a network of crypto assets.\
\
**How Proof of Stake Works?**\
Proof of Stake is a system that does not rely on the mining process in creating new blocks. Instead of mining new blocks, the system requires users to demonstrate ownership of a certain amount of crypto assets. Here, miners are referred to as validators. They will stake their tokens to participate in transaction verification. The token will then be used as collateral as long as the user is still a validator. The role of a validator is to verify the validity of transactions into blocks, sign them, as well as register new blocks into the network. The selection of Proof of Stake validators is chosen randomly, but priority is given to those who have a high number of stakes. The higher the crypto asset, the higher the chance of being selected as a validator. However, the algorithm will still randomize it to avoid attacks from hackers. The validator will receive a reward when he successfully validates a transaction and registers a new block. If he fails to carry out this task, the staked tokens will be deducted and he cannot become a validator within a certain time. \
Blockchain is not controlled by any authority, hence it is decentralized and not centralized. Therefore, there must be an approach to reach consensus regarding the legitimacy of crypto transactions. If this is not the case, the blockchain can experience undesirable things, including double spending, and fake transactions.\
Blockchains with a PoS consensus mechanism require their nodes to “stake” or “lock” cryptocurrency for a certain period of time. In return, these nodes get the opportunity to become “validators,” which are selected nodes that generate new blocks for the blockchain and receive native cryptocurrency as a reward. The greater the amount of cryptocurrency staked, the greater the chance of being selected as a validator. PoS systems have a framework that secures the network if validators start acting suspiciously or engage in fraudulent activities.<br>


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