REMChain is an open source protocol that utilises
blockchain technology to replace traditional centralized instances of Public Key Infrastructure with a blockchain-based Network of Trust.
REMChain operates on the EOSIO codebase,
but does not rely on the EOS mainnet.
In other words, REMChain will continue to be an
independent blockchain fuelled by the REM token.
REMChain is capable of processing thousands
of transactions per second and is designed to scale.
REMChain offers Free Rate limited transactions,
Low latency block confirmation (0.5 secs),
Low-overhead Byzantine Fault Tolerant (BFT) finality, Hierarchical role-based permissions,
& Focus on Inter Blockchain Communication.
The Top 20:
Active BPs are responsible for producing & continuously adding new blocks to the chain.
The Top 21-25:
BPs become Active to produce blocks in shifts & rotate every six hours. (There is always maximum 21 Active BPs at a given moment)
Standby BPs not producing blocks at a given moment, but may become Active at some point.
Block rewards are divided between Block Producers in the following proportions:
Distributed to all Guardians, in proportion to their delegated stake on REMChain.
Distributed to the Top 25 Active Block Producers, in proportion to votes received (1 token = 1 vote).
The remaining rewards are sent to
the Remme Savings Account.
On REMChain, blocks are generated in rounds of 126
(6 blocks x 25 Block Producers).
At the beginning of each round,
25 unique Block Producers are selected,
according to votes cast by REM token holders.
When a candidate elects to resign
& no longer function as a Block Producer,
a dedicated transaction within the
system contract will need to be signed.
Thereafter, the staked tokens will be
steadily released over a period of six months.
This is necessary to protect the network
from speculative behaviour among block producers.
REMChain utilises the Delegated Proof of Stake
This algorithm allows holders of a certain number
of REM tokens to select Block Producers via a continuous voting mechanism.
Those who accrue a minimum number of REM
tokens may choose to take part in a
Block Producer election & compete for a top 25 status,
or vote for other BP candidates whom they endorse.
Active participation in the network’s governance
is necessary to partake in the reward
distribution process & to achieve Guardian status.
Please refer to the Official Tech Paper
for more information on REMChain
Remme Protocol Technical Paper