Towards Efficient Governance In Distributed Ledger Systems Using High-Performance Computational Nodes

Abstract

Due to increasing popularity in distributed ledger systems and the increasing demand of a stable model of a blockchain, fitting both for the development of IoT (Internet of Things) and DApps(Decentralized Applications), the current generation of blockchain needs to solve its main problems ranging from scalability to security and to bring improvements, in order to fit the real-world needs of society nowadays. One of many solutions brought by current prospective blockchains is a form of governance through different types of nodes, usually equipped with more computational resources, that have a more important significance in the network. In this paper, we tried to showcase the applicability of democratic governance in the blockchain ecosystem through the use of supernodes, in order to solve some of the current dilemmas. Despite the multitude of the use-cases, we will focus on four that show great potential in improving the blockchain technology, by outlining both their positive and negative points. Besides that, current blockchains that have a form of governance will be analyzed by examining the use-cases of the supernodes as well as the benefits and negative aspects they give to the ecosystem.