The following is a brief summary of a blog post written by Komodo's Lead Developer, JL777.
As the industry continues to develop, Komodo's dPoW consensus solution is receiving more attention.
Many people want to call dPoW centralized, but this cannot be accurate, as there are at least 64 parties controlling the process. At worst, dPoW is a “distributed” process, if not “decentralized.”
Furthermore, all nodes on the network validate proposed notarizations, and invalid notarizations are rejected.
The only three changes to the Bitcoin protocol's consensus mechanism that Komodo makes are as follows:
- Detect and accept valid notarizations
- Reject attempted blocks and notarizations that are earlier than the most recent notarizations
- Reject any attempt to reorganize the chain beyond the most recent notarization