Can I implement a Dpos mechanism on ERC20 tokens?

legendsneednotags

newbie

Activity: 86

Merit: 0

Quote from: VanDeinsberg12 on April 25, 2019, 10:31:03 AM

You can, as far as i know WAX token is ERC20 token that already implemented DPOS mechanism. I don't know if that kind of token will meet your expectation to see ERC20 governed by Delegated proof of stake mechanism but it's not wrong to try. CMIIW

So currently you are able to delegate and stake WAX tokens even though it's still an ERC20?

Apologies for being a noob with respect to this one.

VanDeinsberg12

hero member

Activity: 1540

Merit: 507

You can, as far as i know WAX token is ERC20 token that already implemented DPOS mechanism. I don't know if that kind of token will meet your expectation to see ERC20 governed by Delegated proof of stake mechanism but it's not wrong to try. CMIIW

legendsneednotags

newbie

Activity: 86

Merit: 0

I have been thinking of creating an ERC20 standard token for token generation event, and eventually move to a mainnet.

Let's assume I want to implement a DpoS consensus mechanism for my project. I initially want to have a circulating supply of 1 Billion which will then increase to 2 Billion over the course of time. The consensus mechanism being Dpos.

So can I implement Dpos before mainnet launch so that delegates can benefit by staking tokens when the tokens are still in ERC20 format which can be later swapped for a 1:1 at mainnet launch ( includes the staked tokens ).

Or would I have to switch to mainnet to implement any consensus mechanism? Does that mean the supply cannot increase ( no staking mechanism ) after creating ERC20 token?

Please help.

Topic: Can I implement a Dpos mechanism on ERC20 tokens? (Read 109 times)