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.