Delegates

The DPoS consensus mechanism is divided into two parts: electing a group of block producers (bookkeeping nodes) and scheduling production. A delegate is a special type of account that has the privilege to be voted as a bookkeeping node. All of the LBTC holders can vote and decide who will be the bookkeeping nodes for the entire system. Every LBTC holder can vote for other 51 holders, who have registered as delegates, and receive unlimited votes. At most, 101 delegates who have received the most votes, will have the right to forge blocks and record the transactions. Other delegates are listed as “Standby Delegates”.

To be a delegate, a LBTC holder needs to pick a name that have not be used before and register as a delegate. The process can be accomplished in either the full node or light wallet, but keep in mind that forging process is only possible in the full node wallet. This means that you can register a delegate in either version of the wallet but will only be able to perform the delegate functions in a full version of the client. All LBTC accounts are eligible to become delegates.