Method for tracking transferrable digital objects within decentralized consensus system

A computer implemented method for tracking transferrable digital objects within a decentralized consensus system, the method adapted to be performed by a consensus system software application running in a node computer and comprising:

• i) loading an initial ledger containing a first set of digital objects;
• ii) connecting to peer nodes over a wide area network;
• iii) downloading block chain data from connected peer nodes, said block chain data including one or more data block chains, each data block chain within said one or more data block chains including a set of data blocks, each data block within said set of data blocks including a set of transactions and signed by one or more block signers within a set of block signers;
• iv) checking validity of said block chain data using a set of consensus rules to determine whether data blocks within said set of data blocks follow a set of protocol rules;
• v) broadcasting a transaction to peer nodes that associates a first stake balance with an approval vote for a first block signer candidate and an approval vote for a second block signer candidate;
• vi) broadcasting a second transaction that associates a second stake balance with an approval vote for a set of block signer candidates;
• vii) from a collection of block signer candidates, determining a first block signer with highest summed approval by summing stake balances associated with votes for each block signer candidate within said collection, wherein said collection of block signer candidates includes said first block signer candidate, said second block signer candidate and said set of block signer candidates;
• viii) from said collection of block signer candidates, determining a second block signer with second highest summed approval by summing stake balances associated with votes for each block signer candidate within said collection;
• and
• ix) updating said set of block signers with said first block signer and said second block signer.

A computer implemented method for tracking transferrable digital objects, the method adapted to be performed by a consensus system software application running in a node computer and comprising:

• i) loading an initial ledger containing a first set of digital objects;
• ii) connecting to peer nodes over a wide area network;
• iii) downloading block chain data from connected peer nodes, said block chain data including one or more data block chains, each data block chain within said one or more data block chains including a set of data blocks, each data block within said set of data blocks including a set of transactions and signed by one or more block signers within a set of block signers;
• iv) checking validity of said block chain data using a set of consensus rules to determine whether data blocks within said set of data blocks follow a set of protocol rules;
• v) where said block chain data includes more than one data block chain, determining a consensus data block chain based on a most committed stake metric or by selecting one of said more than one data block chain that has highest percentage of stake assigned in the ledger directly before a fork of said more than one data block chain that participates on said selected data block chain after said fork, wherein said consensus data block chain includes a set of valid transactions and a set of valid data blocks;
• vi) passing said set of valid transactions and said set of valid data blocks to one or more connected peers over said wide area network, wherein said set of valid transactions and said set of valid data blocks are verified to follow said set of protocol rules;
• and
• vii) maintaining a current ledger, said current ledger built from said initial ledger, said valid transactions and said valid data blocks.