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The main problem with proof of stake (Proof-of-Stake) is that the people elected must be chosen randomly but proportional to their stake. If it is not, then the same person could be selected several times in a row and make double expenses (make the same transaction several times). Cardano offers a specific solution to guarantee the random aspect.
Voters will use their private key to signal their intention to become a Slot Leader for a certain Period. This intention is seen as a commitment on the part of the person that he will be there and available when his Slot arrives. The intention is a random secret message chosen by each voter. It can be anything.
This process is in two phases:
- Applicants first send an encrypted intention (message) to all nodes using a secret key
- They all reveal their secret key at the same time
This allows all participants to view the voting intention and its content. The entire intent is actually used to generate a completely random seed. This seed is used in an algorithm which makes it possible to select a Lovelace (the equivalent of a satoshi in Cardano) randomly among all those put into play. And this as many times as there are slots in an Epoch, i.e. 600 time.
The more Lovelace a person has, the more likely they are to be chosen.
If more than 51% of the slots of an epoch do not generate blocks then the epoch is not valid.
Slot leaders can participate in several Cardano blockchains at the same time. The idea is to have several eras that start and end at the same time. This would allow blockchains to grow at the same time. But also to manage transactions in parallel (cross blockchain) because the times would still be synchronized.
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