Knowledge Base: Transaction Processing

  • How to Run a Transaction Processing Node in OmniBazaar

    Being a "Transaction Processor" in the OmniBazaar/OmniCoin network is similar to "mining" in the bitcoin network. Both serve to process the transactions of other users. Both serve to secure the network. Both involve a reward. And, both involve some work.

    In the case of Bitcoin, the "work" is solving extremely complex cryptographic problems using specialized equipment and a LOT of electricity. This system is called "Proof of Work".

    In OmniBazaar, the work is providing various services for users of the marketplace, maintaining a good reputation, and referring new users.  This system is called "Proof of Participation".

    You can learn a