Patent attributes
An improved blockchain is described herein in which a burn quota is used to manage the rate at which blocks in a blockchain are formed. The burn quota may define the amount of cryptocurrency that needs to be burned in order for an election to commence. If the amount of cryptocurrency that is burned in association with a particular block in the burn chain is less than the burn quota, then no election or sortition occurs in association with that block. Rather, an election or sortition may occur in relation to the next block in the burn chain if the sum of the cryptocurrency burned in the previous block and the next block exceeds the burn quota. The nodes can vary the burn quota itself based on whether an election or sortition occurred or did not occur in a manner such that blocks are formed at a consistent rate.
