Proof of Trust (we’ll refer to it as PoT) is a new concept that tackles problems of current signing technologies.
This type of singing technology is one of the most used ones. It uses miners or other calculating devices to proof that they have worked in order to get the allowance of signing blocks.
This in general is a very good idea since nobody will work if they won't get rewarded. The biggest problem here is the waste of electrical energy. Why calculating and therefore using energy if there is nothing to calculate?
Furthermore this concept has the flaw of the widely known 51% attack, meaning that if 51% of the network is owned by one individual, he has overtaken the network and can sign any request no matter how truthfull this transaction is. For bigger coins this might not be a problem, for example BitCoin, but for smaller coins this most certainly is.
Another big disadvantage is the current calculating power seen on a global scale. Most of the mining equipment is produced in China, where also most of the mining power is. There are just a few mining pools that can compete with the mining power coming from the two main manufacturers in China. This leads into rising complexity of the hashes and thus making current mining equipment useless - forcing miners to buy new hardware every year, resulting in more hardware waste.
PoS tries to remove the negative parts of PoW by leaving miners and their calculating power out, simply focusing on the idea that "If you have very many coins, you want this project to succeed".
This is, from the basic thought, correct but it also does one thing that the whole blockchain scene tries to get rid of - rich people getting richer. And this is basically what it is, since you earn coins with your node and the amount of blocks you can forge is defined by the number of coins you have. So running a simple node and enriching the network for more security and stability is not sensefull if you just joined and don't have much of this digital currency.
There is also a theoretical concept of an attack, which tries to proof that the idea of PoS is flawed in a complete objective network: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2393940
Because of the problems with the beforementioned signing techniques we thought that the most important part nowadays is trust.
So there needs to be a way to ensure that you can determine and proof trust within a computer network, eventhough you don't know the participating devices. This is why we have three parties to sign a single block:
Nodes are one of the most important part within our network.
They are the ones that can gain a trust factor. The trust factor is based on the credibility of a node over a certain amount of time, the time factor the node actively participated in the network, the number of correct transactions delivered, a connected stake as well as it's computational power.
All nodes will be ranked by this factor and the better the ranking the more blocks can be signed.
Clients are servers, miners, traditional PC systems that run a software we provide or use a certain protocol standard. These are the ones really creating the backbone of computational power within our blockchain technology. As already known from BitCoin a massive amount of calculating devices can ensure the stability and trustworthyness of a network.
In this case we change this principle a bit by not calculating 24/7 but by calculating per demand, which means that energy and computing power can be saved, since there is no increasing complexity of the hashes and clients are chosen randomly for block signing.
Nearly everyone nowadays has a cellphone but currently there is no way to use those in a blockchain network. The reason is simple, because your battery pack wont last that long.
We integrate mobile devices into our network by changing the computational part to only use single devices on demand to ensure that a signing is correct and trustworthy. This can simply be done by installing the signing app (which also acts as wallet) - everything will be done automatically in the background.
All those three participating systems will get their share on transaction fees ensuring that their work was worthwhile. Our biggest focus here is to be fair and equal - not that the one with the most mining power earns the most money, nor that the one with the highest volume of coins earns the most - trustworthy nodes earn less because they are chosen more frequently, clients and mobile devices are chosen randomly.
This ensures a fair spreaded revenue as well as security within the network. All the parts have different computational tasks and if one is faulty, for example by manipulation, it gets a penalty within the network.
These penalties are spread throughout the network and devices can be blocked for good if they have been proven faulty