BizAuto Whitepaper_Eng
  • BizAuto Docs
  • Start Here
    • 1. Getting Started
    • 2. Getting Support
      • 2.1 Official Emails for Contact
    • 3. Grant Program
  • Core Concepts
    • 1. What is BizAuto?
    • 2. Core Architecture
      • 2.1 Key Components
      • 2.2 Network Information
      • 2.3 Wallet Configuration
    • 3. Technology
    • 4. BizAuto’s System Resource Allocation
    • 5. BizAuto Tools
  • Products
    • 1. BizAuto Platform
      • 1.1 Overview
      • 1.2 Set up your wallet : BIZA Platform
        • 1.2.1 BIZA PLATFORM Installation
        • 1.2.2 BIZA PLATFORM membership registration
        • 1.2.3 KYC verification
        • 1.2.4 OTP registration
        • 1.2.5 DID certification
      • 1.3 Staking
    • 2. BIZA-CarnegieMall: Decentralized P2P Platform
      • 2.1 Overview
      • 2.2 Key Features
      • 2.3 Comparison with Traditional E-Commerce Platforms
      • 2.4 Additional Services
      • 2.5 Conclusion
      • 2.6 User Guide
        • 2.6.1 BIZA-CarnegieMall Installation
        • 2.6.2 BIZA-CarnegieMall membership registration
        • 2.6.3 BIZA-CarnegieMall product registration and sales
    • 3. BIZA-UVIT
      • 3.1 Overview
      • 3.2 Key Features
      • 3.3 Additional Services
    • 4. Others
      • 4.1 BIZA-MetaWorld
        • 4.1.1 Overview
        • 4.1.2 Key Features
        • 4.1.3 Additional Services
      • 4.2 BIZA-Metaversity
        • 4.2.1. Overview
        • 4.2.2. Key Features
        • 4.2.3. Additional Services
  • Tokenomics
    • 1. Distribution Plan
    • 2. Explorer
    • 3. Token Information
      • 3.1 CoinMarketCap
      • 3.2 CoinGecko
      • 3.3 Medium
  • Resources
    • 1. Developer tools
    • 2. Learning Resources
  • Block Producer (Validator)
    • 1. Overview
    • 2. BIZA Block Producer Registration and Election Process
    • 3. BIZA Block Producer Voting Guide
    • 4.Block Producer Rewards
  • Ecosystem
    • 1. Wallet
    • 2. Block Explorer
    • 3. RPC Providers
    • 4. Centralized Exchanges
    • 5. Ecosystem Map
    • 6. Join the Ecosystem
  • Roadmap
    • Partners
  • Disclaimers
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  1. Block Producer (Validator)

2. BIZA Block Producer Registration and Election Process

Phase 1: BIOS Boot

The BIOS Boot node initiates the blockchain by building the Genesis Block, installing core operating contracts, and appointing 21 Block Producers (ABPs) to hold initial elections. The BIOS Boot node then relinquishes all system authority and publishes the now useless BIOS Boot key for transparency and audit purposes.

Phase 2: Appointed BPs

The ABPs validate the initial chain setup and begin block production, transitioning from a single-node blockchain to a multi-node system in under 9 seconds. The remaining members of the Go-Live Pool can now connect and propose themselves as Candidate BPs for the upcoming elections. Token holders are then able to stake their tokens and vote for their preferred BP candidates.

The ABPs’ sole task is to facilitate the election of 21 Elected Block Producers (EBPs), after which they step down. The election process is designed to be organized over several rounds, ensuring a smooth transition to a fully operational blockchain.

Phase 3: Elected BPs

The EBPs start processing normal transactions and hold ongoing elections, with the first 10 rounds focusing on replacing the ABPs with elected BPs. After this initial phase, the former ABPs and BIOS BP, along with other contenders, may re-enter the election process, allowing for regular turnover and ensuring democratic participation.

Phase 4: Constitution Zero

The network enters a phase where the default Constitution (Constitution Zero) can be replaced. Any stakeholder can propose a new Constitution, which becomes Constitution #1 if it either achieves a majority support for 15 days or maintains a leading position for 30 days.

Phase 5: Validation

No tokens can be transferred, and no block rewards are paid until the network is validated. Validation occurs when accounts holding at least 15% of the total token balance perform valid transactions and a new Constitution is selected.

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Last updated 7 months ago