Methods, systems, and apparatus, including computer programs encoded on computer storage media, for implementing a consensus algorithm on a blockchain, including: ranking computing nodes according to a metric; designating a number of the top-ranked computing nodes as validator nodes; selecting a proposer node; causing the proposer node to create a proposed block; causing each validator node to participate in a first round of voting on the proposed block after depositing a first amount of digital currency; in response to at least two-thirds of the validator nodes voting approval: distributing to each approving validator node a second amount of digital currency; causing the validator nodes to participate in a second round of voting on the proposed block; in response to at least two-thirds of the validator nodes voted approval: distributing to each approving validator node a third amount of digital currency; and adding the proposed block to the blockchain.
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