The Banano ledger is secured through Open Representative Voting, a powerful decentralization mechanism that has no strong analog in Proof-of-Work (PoW) or Proof-of-Stake (POS) algorithms. In conventional PoS systems, the account owner's node must be running to participate in voting. By contrast, Banano account holders choose a representative node to vote on their behalf in the event of conflicting transactions. Continuously running a node is impractical for many everyday users; giving a representative the power to proxy vote reduces that requirement. A user has the ability to easily reassign their representative to any account at any time through a change transaction. The weight of the account is subtracted from the old representative and added to the new representative. No funds are moved in this transaction, and the representative does not have spending power of the account's funds.
Current weight distribution
Every banano holder has voting power equal to the amount of his funds. If the user does not participate in the consensus algorithm then he must delegate his voting power to someone else, a representative.
Representatives are Banano Nodes running on the network, and their total weight (delegated voting power) represents how much control they have over the Banano network. The goal is to spread out network control across Representatives.
Currently more than 90% of Bananos weight is delegated towards official representatives.
How to change your representative
Unlock your wallet.
Scroll down and select the Settings dropdown from the left sidebar, and click Representatives.
Under the Change your representatives section select All Accounts, or each individual account that you'd like to change the Representative for.
In the New Representative field paste the new representative address and check that it's correct.
Click Update Representatives.
Unlock your wallet.
Tap the Cog icon in the upper left corner of your screen, or swipe open the sidebar.
Scroll down and tap the Change representative option, and either scan or paste in the new representative address & check that it's correct.
Tap the Change button and you're done!
Community-run Representatives List
If you wish to further decentralize the Banano network, here's a list of smaller, community-run Banano nodes to whom you might redelegate your account's weight!
Copy the account address to your clipboard by clicking it, or scan the QR Code.
Representative Account Address:ban_1crpaybw8jip7fm98fzfxnjajb55ty76oyzmpfwe9s66u4aod37tm3kxba8q
Representative Account Address:ban_1hoot5p5jibm84pir458nmfnyt8jc3xfsbyfahk5fxwythz8ogkdcy3hdbka
Representative Account Address:ban_3goobcumtuqe37htu4qwtpkxnjj4jjheyz6e6kke3mro7d8zq5d36yskphqt
Representative Account Address:ban_1hentaiqzbhasuyg5tcyhso79ma3wuiektphbnjcekifmawuugdri93trt8f
Representative Account Address:ban_1gt4ti4gnzjre341pqakzme8z94atcyuuawoso8gqwdx5m4a77wu1mxxighh
Representative Account Address:ban_1nannerspntaoqyrtnzjj76joe6yqjcterj6ef3qkdc6kfgswqu3pfaaqphe
Representative Account Address:ban_3tacocatezozswnu8xkh66qa1dbcdujktzmfpdj7ax66wtfrio6h5sxikkep