9. Specta Protocol

Specta Protocol uses the Proof of Stake Authority (PoSA) consensus algorithm which is a combination of Proof of Stake (PoS) and Proof of Authority (PoA). PoSA allows Specta Chain to process transactions faster and at a lower cost compared to other blockchains that use PoW (Proof of Work) or PoS.

In Specta Chain, validators are participants who guarantee a number of SPC coins and are tasked with validating transactions. When validators generate valid blocks, they will receive transaction fees as a reward. However, no new SPCs are created as validator rewards, they are awarded from pre-existing SPCs.

The number of active validators in Specta Chain is limited to 21 validators. Only active validators are eligible to validate transactions. The list of active validators is determined based on validator rank sorted by the number of SPC coins held. The 21 validators with the highest number of SPCs become active validators who take turns validating blocks of transactions. The list of validators is determined daily and stored separately in Specta Chain.

Specta Protocol provides high security to transactions and also reduces the risk of attacks by 51% allowing other users to manipulate transactions. With Specta Protocol, users can make transactions quickly, securely, and at lower fees. In addition, Specta Explorer allows users to view transactions and blocks that occur on the Specta Chain in real time.

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