Similar to Ethereum, Wanchain adopts the Proof of Stake (POS) consensus algorithm. In this case, there are three types of verification nodes that maintain the wanchain network and split transaction fees into three categories:
1.Cross-chain transaction proof nodes (Vouchers)
Vouchers receive a security deposit from the transaction fee once a cross-chain transfer request is made. The vouchers then checks whether the transaction has been confirmed from the original blockchain and the wanchain locked account. If the transfer is false, the security deposit is taken from the holding account and the transaction request won’t be authorized.
2.General verification nodes (Validators)
The Validators require a small portion of the transaction fee to record the transactional data on Wanchain’s blockchain. Once the proof of transaction has been confirmed from the vouchers, the validators receives the data then checks the asset registry of the original chain. Two action can follow:
- If it is a new asset, the asset will be registered and added into the wanchain registry. To register it, it will deploy a smart contract for the new asset
- If it is a registered asset, the transaction will work directly under the existing smart contract
3.Locked account management nodes (Storemen)
Storeman is a Wanchain node that holds the key shares of locked accounts, uses the key shares to generate signature shares and combine them into complete signatures, and carries out other operations on locked accounts which transfers Value from original blockchain to the wanchain locked account. Storemen remain online to maintain their key shares and receive a part of the fee and wait for the notification from validators.