Proof of Authority
Noble is a Proof of Authority chain with a trusted validator set (a subset of Cosmos Hub validators). The validator set will be permissioned by equal shares of staking tokens placed in vesting accounts. The tokens will have no value. Economic security will derive from fees captured by the chain in USDC and other assets on a block-by-block basis. If a double sign is detected by the chain, the validator address will be “tombstoned,” meaning that their tokens and the address will no longer be usable for validation and resulting in the loss of all future fee revenue. The Proof of Authority model provides real economic cost to faulty validator behavior and thus provides economic security to the network that can be computed in real time based on past and projected fees.
Noble intends to monitor developments in shared security across the blockchain ecosystem to ensure the optimality of the security model.