In an endeavor to enhance the Decenomy masternode system and its associated coins, Decenomy introduced the last paid V2. This feature seeks to optimize the process of tracking when masternodes on a network were last paid. This information is valuable as it helps to determine the order of payments. In addition, it can be used to predict what time a masternode should expect a reward.
Thank you for reading this post, don't forget to subscribe!The conventional method for determining the last paid value of a masternode involves a voting process among the nodes in the network. In this system, each masternode votes for another based on criteria like the last paid value, protocol version, and collateral age to decide the recipient of the next payment.
However, this approach has some drawbacks. It assumes all masternodes are online and voting accurately, neglecting cases of offline, malfunctioning, or malicious nodes. Additionally, it doesn’t consider the actual time a masternode was paid, potentially leading to unfair outcomes. Moreover, there is no consistent way to measure the last paid value across nodes, causing disagreements on the payment history among different nodes.
The last paid v2 is a blockchain-based solution that aims to solve these problems and improve the accuracy and reliability of the last paid value. The blockchain maintains a record of all payments to masternodes in a designated field known as ‘payee’. The last paid v2 algorithm systematically scans the entire blockchain from the latest to the earliest block, to locate this payee field and determine when a masternode received payment. Subsequently, it assigns a last-paid value to each masternode, relying on the block height of its most recent payment.
The last paid v2 presents several advantages compared to the previous voting mechanism. It operates independently of external factors such as network connectivity, node availability, or voting behavior. Moreover, it relies on immutable and verifiable blockchain data. This algorithm accurately reflects the actual time when a masternode received payment, ensuring fairness based on waiting time rather than factors like popularity, influence, or luck.
Finally, it establishes a consistent and transparent method for determining the last paid value of a masternode across diverse nodes in the network. All nodes can effortlessly calculate and verify this value by examining the same blockchain data.
