Crankk's Proof-of-Trust (PoT) Mechanism Explained

Takeaways:

1. Crankk's PoT mechanism allows users to stake their $CRKK tokens and trustworthiness to participate in creating, validating transactions, and providing coverage on the Crankk Network. The more nodes users stake, the more trust they are putting up as collateral, and the more rewards they can earn. Staking is accessible to a wide range of users, decentralizing the network further.

2. PoT incentivizes honest behavior, creates a level playing field, and promotes community involvement and trust. It ensures transparency and accountability by requiring nodes to meet certain criteria to prove their trustworthiness and allowing users to track their rewards based on node ranking.

3. PoNP nodes provide coverage and contribute to the overall network participation, while Consensus nodes are responsible for reaching consensus on the next beaconing cycle and validating transactions. Gateways receive rewards for reporting radio pings, and Consensus nodes receive rewards for validating the process. Software license activation and Consensus node staking will occur on specific dates. Announcements and information can be found on Crankk's Discord server and BETA section on their website.