Evaluation and selection of the Block Producers are perhaps the most challenging task in a DPoS (Delegated Proof of Stake) based blockchain project, which is called “Guild” in WAX. WAX is a purpose-built blockchain token designed to ease out eCommerce transactions to make them faster, reliable, and safe for the users.
Despite being a new entrant in the blockchain arena, it has already raised the benchmarks for what DPoS blockchains can achieve. As such, it has the highest rate of voter participation among other DpoS blockchains. To assist the community in widening its horizon in this process, WAX has created the office of the Inspector General, which is an independent element for evaluating Guild candidates and their contributions to the ecosystem of WAX. The OIG or the Office of Inspector General is a 3-member committee, that aims at standardizing the Guild’s evaluations by eventually recognizing their contributions. Among the three members, one is the Chairperson and the other 2 are the standbys. All three members are expected to act collectively in handling office responsibilities.
In connection to forming the office of the Inspector General, William Quigley, Co-founder of WAX, commented,
Evaluating and selecting block producers is a crucial dependency of DPoS-based blockchains, but the lack of standardized, objective evaluations can hamper processing speeds and overall blockchain performance. We’re introducing the Office of the Inspector General role to ensure token holders can quickly make informed decisions when voting for WAX Guilds.
ZenBlocks.io will be serving the first OIG chair and will commence contacting the Guild candidates by November 7, for scoring their applications and releasing their first reports by November 18. The standbys will be supported by EOS Detroit and EOS Barcelona, respectively and are expected to commence the Position Rotation by May 2020. Each inspector General will be serving for nine months in total, three months for each position. The objective of the Inspector General is to provide a quantitative evaluation of the Active and Standby Guilds.