Frequently Asked Questions

What is a speed node?

GSC’s consensus mechanism uses ADPOS (Account-Delegated Proof-of-Stake), which is created by a trusted account (the trustee, the top 23 in the number of votes) elected by the community. The speed node refers to the collection of transaction information in the GSC network and the nodes packed into the block, also known as “the block producer (Block Producers, BPs) “, its feature is that the block time is short, high efficiency. The node is the basis of the GSC network, the 23 trusted accounts are GSC speed nodes (and there are 50 standby nodes), which produce all block records of the GSC network. In other words, the reason why GSC wants to choose the speed node is determined by the ADPOS consensus mechanism.

What is the function of the speed node?

  1. Collection of transactions in the network;
  2. Verify the transaction and packaging transactions into the block;
  3. Broadcast blocks to other nodes, after the verification, add blocks to their local block chains.

What are the rights and interests of the speed node?

Node rewards: the average annual income of the reward nodes is 1 billion GSC x 6% ÷23 ≈ 2.6 million GSC;

Note: the final 23 nodes that are elected, and the average annual income of these 23 nodes is about 2.6 million GSC.

Why should the candidates participate in the pre vote?

  1. You have to let more GSC owners know you and unveil all your information as early as possible;
  2. Try to get more GSC users’ support and understand your own possible ranking in the entire election.
  3. Gaining influence in the centralization of the GSC community in order to assist better the development of the GSC community as a whole.