The protocol provides an immediate, affordable scalability solution, allowing for staking and delegating rates, very fast transactions and low transaction costs. The page runs on a fully interoperable EOS-based chain, allowing for greater efficiency, lower fees, configurability and other benefits over current EOS consensus implementations.
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Description of the project
It is a top-notch decentralized digital financial transaction ecology. It issues its own EOS-based GRP token and proves the fairness of the future income of digital assets through its original work POG.
A group protocol, built on the EOS blockchain, allows users to create currency. The current elements of the group protocol are:
- stablecoin GUSD;
- group collateral storage;
- oracles;
- vote.
GroupDAO manages the group protocol, making decisions on key parameters (e.g. stability fees, collateral / rates, etc.) through the voting rights of the GRP holders. The Group Foundation, which is part of the global group community, developed and launched the group protocol in collaboration with a number of external partners. It is currently working with the GroupDAO community to launch decentralized project management and lead it towards full decentralization.
How is the work done?
Participants in the POG protocols place their bets on assets in the form of tokens or coins to protect the network and reach agreement on blockchain transactions. There are many projects in the group ecosystem where specific project tokens are held by the project's supporters, however these assets are of limited utility. By converting project-specific tokens to group tokens, token holders can participate as validators or delegates in the group-based sidechain consensus process.
Other features:
| Firstly | Earn rewards (block or transactional), based on their participation. This enables token holders to convert any number of current assets into betting tokens, which generate the reward-based dividends. |
| Secondly | The parameters are easy to configure in the POG. This includes the underlying consensus protocol, block reward functionality, transaction speed, rate specifications and other implementation details. |
| Thirdly | The main advantage of GRP Staking is the reduction in energy consumption, compared to the Proof of Work (POW) model. |
DAO — a self-sustaining virtual entity, defined by “smart contracts that contain assets and encode the charter of an entire organization”.
Additional information
Instead of White Paper and RoadMap, the site provides a link to the Medium blog. There are various articles, concerning the development of the project.
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The smart contract has not been audited.