What is Practical Byzantine Fault Tolerance? Complete ...

Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
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Consensus Mechanism of Wisdom Chain Document Knowledge Base

At present, there is a consensus mechanism in the global public chain infrastructure. It stipulates how to compete between the nodes. The most popular consensus mechanism at this stage is OW, POS, DPOS, PBFT and DBFT. Its speed, safety and centralization degree have different emphasis. However, some public chains choose to use the hybrid consensus mechanism, such as ZIL adopts the POW+PBFT's mixed consensus mechanism, Wisdom Chain adopts the DPOS+Pow's mixed consensus mechanism, and what is the advantage of adopting the hybrid consensus mechanism?
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First of all, the early Bitcoin and Ethereum adopted a single consensus mechanism, which resulted in their slow running speed and being unable to be used in the commercial environment. Although EOS uses the consensus mechanism of DPOS, all transactions are recorded by the super node on the chain, which has greatly improved the efficiency, but it has lost another major feature of the blockchain - the security brought by decentralization 。 Therefore, the public chain with a single consensus mechanism is doomed to not have both efficiency, security and decentralization. Advantages of hybrid mechanism The biggest advantage of hybrid mechanism is that it can learn from each other's strengths. Hybrid consensus means that two or more consensus mechanisms are applied to the underlying architecture of the same blockchain public chain. Reasonable use of mixed consensus can make up for the defects of low efficiency, loss of security protection or sacrifice of centralization degree caused by single consensus mechanism.
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Wisdom Chain's ideas in this regard are quite creative. It adopts the hybrid mechanism of DPOS+POW, and the two accounts run simultaneously to make up for the disadvantage of any single consensus mechanism. DPOS mechanism has high efficiency. It is responsible for selecting legal transactions from the transaction storage pool, packaging them into blocks, and then broadcasting them to the network through P2P protocol. The implied POW requires miners to complete a certain amount of work proof to prevent the main chain from branching. At the same time, the elimination mechanism is established. If the nodes make false accounts or biased records within 30 seconds, they will be eliminated. As a result, speed, security and decentralization are taken into account. Of course, there are still some problems to be solved in the hybrid consensus mechanism, but any technology is not achieved overnight, and it is impossible to have a smooth journey. However, the Wisdom Chain team made a detailed and in-depth thinking on the key technical difficulties and put forward feasible technical solutions. In the future, with the popularization of blockchain technology, the problem of hybrid consensus mechanism will surely be solved one by one.
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+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ Blockchain is a sort of conveyed record for keeping up a perpetual and sealed record of conditional information. A blockchain capacities as a decentralized information base that is overseen by PCs having a place with a distributed (P2P) organize. Every one of the PCs in the disseminated arrange keeps up a duplicate of the record to forestall a solitary purpose of disappointment (SPOF) and all duplicates are refreshed and approved at the same time.
Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
submitted by Large_Success_9945 to u/Large_Success_9945 [link] [comments]

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+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ blockchain phone number 〤 〤 bLockchain USA suPport NumBer
+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ Blockchain is a sort of conveyed record for keeping up a perpetual and sealed record of conditional information. A blockchain capacities as a decentralized information base that is overseen by PCs having a place with a distributed (P2P) organize. Every one of the PCs in the disseminated arrange keeps up a duplicate of the record to forestall a solitary purpose of disappointment (SPOF) and all duplicates are refreshed and approved at the same time.
Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
submitted by Wild-Flounder7383 to u/Wild-Flounder7383 [link] [comments]

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+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ Blockchain is a sort of conveyed record for keeping up a perpetual and sealed record of conditional information. A blockchain capacities as a decentralized information base that is overseen by PCs having a place with a distributed (P2P) organize. Every one of the PCs in the disseminated arrange keeps up a duplicate of the record to forestall a solitary purpose of disappointment (SPOF) and all duplicates are refreshed and approved at the same time.
Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
submitted by Fuzzy-Examination-92 to u/Fuzzy-Examination-92 [link] [comments]

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+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ Blockchain is a sort of conveyed record for keeping up a perpetual and sealed record of conditional information. A blockchain capacities as a decentralized information base that is overseen by PCs having a place with a distributed (P2P) organize. Every one of the PCs in the disseminated arrange keeps up a duplicate of the record to forestall a solitary purpose of disappointment (SPOF) and all duplicates are refreshed and approved at the same time.
Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain wallet customer service
Blockchain wallet support number
Blockchain technical support number
Blockchain contact number
Contact number for Blockchain
Contact wallet Blockchain number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )

Blockchain wallet customer service
Blockchain wallet support number
Blockchain technical support number
Blockchain contact number
Contact number for Blockchain
Contact wallet Blockchain number
submitted by ExplanationCute1502 to u/ExplanationCute1502 [link] [comments]

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blockchain+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ support number ∰ BlockchaIn cusTomer Care NumbEr ☎☎
blockchain+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ support number ∰ BlockchaIn cusTomer Care NumbEr ☎☎

+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ Blockchain is a sort of conveyed record for keeping up a perpetual and sealed record of conditional information. A blockchain capacities as a decentralized information base that is overseen by PCs having a place with a distributed (P2P) organize. Every one of the PCs in the disseminated arrange keeps up a duplicate of the record to forestall a solitary purpose of disappointment (SPOF) and all duplicates are refreshed and approved at the same time.
Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
submitted by RecommendationOwn940 to u/RecommendationOwn940 [link] [comments]

1〤 ⑧⑧⑧〤 ⑧⑥①〤 ⑨⑦④②Contact number for Blockchain 〤 〤 Blockchain contact number

1〤 ⑧⑧⑧〤 ⑧⑥①〤 ⑨⑦④②Contact number for Blockchain 〤 〤 Blockchain contact number
1〤 ⑧⑧⑧〤 ⑧⑥①〤 ⑨⑦④②Contact number for Blockchain 〤 〤 Blockchain contact number
1〤 ⑧⑧⑧〤 ⑧⑥①〤 ⑨⑦④②Contact number for Blockchain 〤 〤 Blockchain contact number

+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ Blockchain is a sort of conveyed record for keeping up a perpetual and sealed record of conditional information. A blockchain capacities as a decentralized information base that is overseen by PCs having a place with a distributed (P2P) organize. Every one of the PCs in the disseminated arrange keeps up a duplicate of the record to forestall a solitary purpose of disappointment (SPOF) and all duplicates are refreshed and approved at the same time.
Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain wallet customer service
Blockchain wallet support number
Blockchain technical support number
Blockchain contact number
Contact number for Blockchain
Contact wallet Blockchain number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain wallet customer service
Blockchain wallet support number
Blockchain technical support number
Blockchain contact number
Contact number for Blockchain
Contact wallet Blockchain number
submitted by PracticalCourage4063 to u/PracticalCourage4063 [link] [comments]

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+☎ 𝟖𝟖𝟖̲-𝟖𝟔̳𝟏-𝟗𝟕𝟒𝟐̳☎ Blockchain is a sort of conveyed record for keeping up a perpetual and sealed record of conditional information. A blockchain capacities as a decentralized information base that is overseen by PCs having a place with a distributed (P2P) organize. Every one of the PCs in the disseminated arrange keeps up a duplicate of the record to forestall a solitary purpose of disappointment (SPOF) and all duplicates are refreshed and approved at the same time.
Before, bitcoins were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Blockchain like Blockchain Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
submitted by UnderstandingSea1546 to u/UnderstandingSea1546 [link] [comments]

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Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
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submitted by Upbeat_Mycologist_33 to u/Upbeat_Mycologist_33 [link] [comments]

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Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain wallet customer service
Blockchain wallet support number
Blockchain technical support number
Blockchain contact number
Contact number for Blockchain
Contact wallet Blockchain number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain wallet customer service
Blockchain wallet support number
Blockchain technical support number
Blockchain contact number
Contact number for Blockchain
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submitted by Accomplished_Serve38 to u/Accomplished_Serve38 [link] [comments]

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Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
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How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
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submitted by Repulsive-Swan-8330 to u/Repulsive-Swan-8330 [link] [comments]

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Before, blockchains were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, blockchain applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
Blockchain support number
Blockchain phone number
How blockchain functions
A blockchain record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash.
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the blockchain cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed.
Blockchain stages
Blockchain stages can be either consent less or permissioned . In an open, permissionless blockchain like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub.
Blockchain agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a blockchain stage. There are four standard techniques blockchain and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Blockchain toll free number
Blockchain complaint number
Blockchain wallet tech support number
Blockchain helpline number
Blockchain wallet support number
Blockchain customer care number
Blockchain customer service
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submitted by Complex-Cricket6658 to u/Complex-Cricket6658 [link] [comments]

A breakdown of the aelf blockchain whitepaper — Part 2

A breakdown of the aelf blockchain whitepaper — Part 2

https://preview.redd.it/p9cf7c4cpri51.png?width=512&format=png&auto=webp&s=006d466a2d0ad4d4afbbffe340eb2ad44631ad27

Breaking down the aelf side-chain

Cloud computing, parallel processing, and AEDPoS have greatly improved the execution performance of any kind of smart contract, but when they are applied to enterprise-level scenarios, new problems crop up. To begin with, in software design, it is a rather bad idea to program all the methods in the same class. We always write a series of classes to inherit a base class, in order to decouple the functionalities and make the class extensible whenever needed. The same also applies to blockchain design. Second, since all the data and transactions are accessible to anyone through a blockchain explorer, if we put the smart contract and data of different enterprises or government sectors on a single blockchain, then everyone can see them, which means there will be no data privacy. Although there are encryption techniques which can mask data, such as zero knowledge proof, it is always better to put the data of different enterprises on different blockchains.
Based on these considerations, long before other projects even realized it, aelf proposed that side-chain technology should be applied to this scenario. Unfortunately, for someone who is new to blockchain, it is almost impossible to understand how side-chain works. Side-chain is not what it literally means, it is not subordinate to the main chain. On the contrary, a side chain is a blockchain distributed system with the same functions and nodes as a main chain (say, the aelf blockchain). As mentioned above, we can put the data of different enterprises on different blockchains. This means we can build many blockchains, and work magic (of course not magic in its literal sense) to make these chains connect to the aelf main chain (in fact, we can call any of these blockchains a main chain and the rest side chains). Currently, the most popular method of connecting any two blockchains, which we also call cross-chain, is using a middle-man. When we want to use bitcoin to play a decentralized game on Ethereum, we need to send a transaction with some amount of bitcoin to a locking bitcoin address, then the middle-man will exchange the locked BTC for ETH at a certain exchange rate and allocate to you the equivalent amount of ETH on Ethereum, which you can use for playing games.
But in aelf, we use a metadata indexing method, which is more straightforward. Unlike other projects who built on the blockchains of those already successful projects (such as Ethereum or the HyperLedger fabric framework for consortium blockchains), the aelf team has writen all the code and build the infrastructure from scratch. From the beginning, the aelf team has defined how the data structure of a blockchain, a block, a transaction etc. should look like in C#. In an aelf blockchain data structure, there is an attribute called blockchain ID, which is a unique hash; and in block data structure, there are several attributes called blockchain ID , Merkle tree root and related side chain block list. There is also one more important thing: all of aelf’s data structures are serialized and stored in Redis (a popular key-value pair database system), so is the side chain information. As a result, as the aelf main chain is growing with block production by BPs, other side chains can send transactions to cross-chain contracts, which then execute the related code to connect to the main chain’s network port and request the main chain to index the side chain block and pay the indexing fee.
The core issue here is how to index a side chain: when a main chain (the block data structure on the main chain, or the data records with main chain ID in Redis), receives a request from a side chain, it adds the side chain’s block head data structure to the related side chain block list, which means theoretically we have indexed or related a side chain. We have mentioned that there is also a blockchain ID in each block, this attribute allows a main chain to index blocks from different side chains. When a user on a main chain wants to access data on a side chain or vise versa, they just need to find the target block on the main chain and its related side chain block list, and then find the target block on the side chain via key indexing.
As we will explain later, blockchains for different application scenarios generate blocks at different speeds. Under such circumstances, a chain with slower speed might index many blocks from a chain that produces blocks faster. This method can be applied to scenarios such as forking.
In practice, we can build any number of blockchains, and relate it via indexing to the aelf main chain, with a specific category of smart contracts running on each of them. For example, we can allow only banking-related smart contracts deployed on a specific blockchain, and e-commerce smart contracts on another. Our whitepaper summarizes it best:
One chain, one contract.
Moreover, the indexing method can make many blockchains into a hierarchical tree structure, the root being the so-called main chain. That’s because a related blockchain can then again index another blockchain as its side chain, and the process can keep going on. Logically, this is in perfect accordance with hierarchical taxonomy, for example, the financial sector has many subcategories, such as banking, lending, investment and insurance, and under investment banking, there are venture capital, investment bank etc… Each subcategory is supported by an indexed blockchain.
So how do these blockchains collaborate in a distributed system? First we need to be know that any node in a distributed system is just a software instance running on your computer, or a process. In TCP/IP, a node is allocated a port number, so we can run any number of this type of instances on a computer. However, each instance has its own port number: we can run several blockchain nodes, one IPFS node, one bit-torrent node and etc. simultaneously. In aelf, you should first start a main chain instance, and then you can build and run a side chain instance. Transactions broadcast on the side chain are collected by the BP nodes (block production nodes) on the main chain. When smart contracts deployed on the side chain is triggered, the BP and full nodes on the main chain will run them.

Aelf — a blockchain based operating system

To perfect the design of our software system, aelf made the system extensible, flexible and pluggable. Just as there are thousands of Linux OS with only one Linux kernel. As Ethereum Founder Vitalik Buterin has explained, Ethereum can be seen as a world computer because there are lots of smart contracts running on it, and the contract execution results are consistent in all the distributed systems around the world. This idea is also embedded in aelf’s system and we call it a “blockchain infrastructure operating system”, or a distributed operating system.
Just like any OS, aelf has a kernel and a shell. In fact, aelf’s kernel is not something like a Linux kernel, it is just an analogy. There is a special concept in aelf’s kernel called the minimum viable blockchain system, which defines the most fundamental aspect of a blockchain. If a developer wants to create a new blockchain system or a new blockchain project, he does’t have to start from scratch, instead, he can directly extend and customize using the aelf blockchain open-source code. The technologies described above are all included in the minimum viable blockchain system. With these, anyone can customize:
  • Block property: block data structure, block packaging speed, transaction data structure, etc.
  • Consensus type: AEDPoS is used by default, but you can also use incentive consensus, like PoW and PoS. And you can also use the consensus of traditional distributed systems, like PoS and Practical Byzantine Fault Tolerance, or PBFT. In fact, the f evil nodes of 3f+1 nodes are the upper limit for any distributed system to reach a consensus, which is called the Byzantine Fault Tolerance, or BFT. In order to do this, there is a specific algorithm, but in 1999, a much more efficient algorithm to reach this consensus came along, that is the PBFT. In scenarios like private blockchain or consortium blockchain where there is no need for a incentive model, PBFT will be a good option.
  • Smart contract collection: In aelf, there are many predefined smart contracts that can be used directly by other contracts, such as token contract, cross-chain contract (also called CCTP, or cross chain transfer protocol), consensus contract, organization voting contracts, etc. Of course, you can also create your own contract with a brand new implementation logic.
  • Others.

Summary

So this is our breakdown of the aelf blockchain whitepaper. In previous articles, we first introduced two basic concepts which are often misinterpreted by other articles. After helping you get these two concepts straight, we then introduced aelf’s vast arsenal of powerful technology. If these articles helped you understand the aelf blockchain better, then I have reached my goal. But I must advise you to read the whitepaper for a more detailed explanation. With all this knowledge at your disposal, I believe you will be much more comfortable developing DApps on aelf.
Check Part 1 here: https://medium.com/aelfblockchain/a-breakdown-of-the-aelf-blockchain-whitepaper-part-1-a63fc2e3e2e7
submitted by Floris-Jan to aelfofficial [link] [comments]

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Before, bitcoins were regularly connected with computerized monetary standards, for example, Bitcoin, or substitute variants of Bitcoin like Bitcoin Cash. Today, bitcoin applications are being investigated in numerous businesses as a protected and practical approach to make and deal with a disseminated information base and keep up records for advanced exchanges of various types.blockchain technical support number
Bitcoin toll free number
Bitcoin complaint number
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Bitcoin helpline number
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How bitcoin functions
A bitcoin record comprises of two kinds of records, singular exchanges and squares. The main square comprises of a header and information that relates to exchanges occurring inside a set timespan. The square's timestamp is utilized to help make an alphanumeric string called a hash. blockchain technical support number
After the main square has been made, each resulting hinder in the record utilizes the past square's hash to compute its own hash. Before another square can be added to the chain, its genuineness must be checked by a computational cycle called approval or agreement. Now in the bitcoin cycle, a greater part of hubs in the system must concur the new square's hash has been determined accurately. Agreement guarantees that all duplicates of the appropriated record share a similar state.
When a square has been included, it very well may be referred to in resulting squares, however it can't be changed. In the event that somebody endeavors to trade out a square, the hashes for past and resulting squares will likewise change and upset the record's shared state. At the point when agreement is not, at this point conceivable, different PCs in the system know that an issue has happened and no new squares will be added to the chain until the issue is fathomed. Regularly, the square causing the mistake will be disposed of and the agreement cycle will be rehashed. blockchain technical support number
Bitcoin stages
Bitcoin stages can be either consent less or permissioned . In an open, permissionless bitcoin like Bitcoin, each hub in the system can lead exchanges and exchange charges and take an interest in the agreement cycle. In a private, permissioned chain like Multichain, each hub may have the option to perform exchanges, however cooperation in the agreement cycle is confined to a predetermined number of affirmed hub. blockchain technical support number
Bitcoin agreement/approval calculations
Picking which agreement calculation to utilize is maybe the most urgent part of choosing a bitcoin stage. There are four standard techniques bitcoin and other circulated information base stages use to show up at an agreement. By and large, open stages pick calculations like Proof of Work since they require a ton of handling capacity to figure, and are simple for other system hubs to confirm.
Verification of-work calculation (PoW)
Functional byzantine adaptation to internal failure calculation (PBFT)
Verification of-stake calculation (PoS)
Appointed verification of-stake calculation ( DPoS )
Bitcoin toll free number
Bitcoin complaint number
Bitcoin wallet tech support number
Bitcoin helpline number
Bitcoin wallet support number
Bitcoin customer care number
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submitted by Successful_Nebula846 to u/Successful_Nebula846 [link] [comments]

Celo technical review

Introduction Celo Technical Review: What Celo Wants to Achieve? Celo’s main motive is to make their crypto currency as a platform of payments. These are some of the problems faced in the crypto industry now: - Existing crypto currencies like Bitcoin are not used as payment platforms as they are considered store of value due to their deflationary nature. - Crypto in itself is very difficult with bad UIs and very difficult for the users to manage their keys and they require the public key of the user whom they want to send payment. - There is no concrete governance structure in crypto currencies. Celo wants to eliminate the above problems by following methods: - They are proposing to introduce a stable coin with elastic supply backed by variable reserves - They are using Address Based encryption to make ease of use of payments - They are introducing Governance structure at different levels. What is Address Based Encryption? Address Based Encryption is a novel approach of enabling the user to use their phone number or email address as a secure way of messaging. Users generate traditional ways of public / private key and encrypt their public key with their phone number, so they can use their phone number to send / receive Celo money. This encrypted value will be stored in a database and committed by the validator. This is what Celo is mainly pitching to reduce the dependency on people to use their public keys while transferring payment to reduce user onboarding. All one has to do is a one-time setup and then you can use your phone number as an address for sending payments! As simple as that! This is what Celo is hoping to achieve. Although this model does bring its own set up of problems, Celo addressed these issues and how they plan to resolve these in their white paper. We have some queries on these approaches which we will address at the end of this review. What is Elastic Coin Supply? Celo has two assets, Celo Gold and Celo Dollar. - Celo Dollar which will be the stablecoin. Celo Dollar will be elastic in nature as it will be freshly minted if the price goes above the peg. - Celo Gold is the utility token of the blockchain. Celo Gold will be used for governance, staking and as an incentive for developers which will be put in reserve. Celo Governance Since Celo uses Proof of Stake, Celo Gold will be used for staking and also for any governance decision making. This will be done by sending the Celo Gold tokens to a smart contract with a withdrawal notice set for a duration. White Paper Summary Overall, a good paper presented well. The value of Celo Gold will depend upon the usability of the Celo platform. Perhaps, something to learn from ETH where the value of ETH has risen because one can build various tokens on the ETH network. Questions for Celo Team (White Paper) - For the Address based encryption, it is mentioned that validators will be used to attest the signatures. * Our Question(s): How many validators will be used and what's the slashable criteria for the validators? - For mitigating the DDOS, a cost to attestation is required, which basically means users sending out a fee for attestation. * Our Question(s): Wouldn't this hamper a new user, as he has to pay a fee just for registering his key? Also, what is the time overhead required for the validators to verify and attest the message? - Regarding the Elastic Coin Supply, it is mentioned that when the Celo Dollar price is above peg, new coins will be minted and instead of distributing them to the user, they will be used to buy various other crypto-assets and sell them when required. * Our Question(s): What are the assets that will be bought is not cleamentioned and weI really think this is not a good method as we know the value of crypto assets might decay over a period of time. Any thoughts on that? Also, who will cover for that if net value ends up as loss? - Also, to be elected validator, it was mentioned that the users can form groups and pitch themselves to be validators. * Our Question(s): Wouldn't this make the protocol more centralized, something akin to a DPOS system? Other Question(s): - What are the criteria of slashing funds of a validator? - What about storage problems, since they are forking ETH, wouldn't they inherit the same problems ETH has with respect to speed and storage overhead? - To make any technical improvements, anybody can make a bonded deposit and validators can vote on that. But wouldn't this pave way to the incorrect technical improvements to be made and also will the deposit be slashed if there is incorrect spec on the improvement submitted by the developer? - What will be the function of a smart contract platform in addition to the bonded deposits and attestation of messages?
Celo Code Review Celo Repositories and Blockchain: Celo has 69 repositories. Initial observations are that Celo blockchain is a fork / copy of GETH with some modifications. Key Modifications: - Addition of BLS signatures - Addition of Istanbul-BFT consensus in place of POW - Introduction of Celo Gold Tokens BLS Signatures: A simple explanation is that BLS Signatures offer a better way of aggregating signatures and reducing the storage in blocks. However, verification of these signatures still takes time. IBFT Consensus - Istanbul BFT consensus: A simple explanation of IBFT Consensus is that it is modified PBFT which is most suitable for permissioned networks. This consensus works well with a smaller set of validators and is fast and also offers safety for up to 2/3 of the dishonest nodes. Celo Gold Tokens: Celo Gold Tokens is a native token of Celo Blockchain, just like ETH for ethereum blockchain. Having reviewed all the repositories, we feel that there are a lot of other repos which have most of the code they have mentioned in the white paper, like Governance, Slashing, Stable Coin etc. Overall, all the other reports are well maintained. We don’t see any major red flags in their repositories. Questions for Celo Team (Code): - Our only observation is that we are still unable to understand why they would be needing a separate blockchain to carry out all aforementioned functions. Can't they use PoA network, which is similar to their blockchain, and they can still add the aforementioned functions or better be as a sidechain to ETH?
- What's the reason for forking ETH? - What’s the Unique Selling point for Celo in the midst of several stable currencies, are we relying only on the one point of ease of access? Should I invest in Celo or not? The Matrix's Red Pill or Blue Pill or Celos’ Green Pill — Which Is Better? Discuss, ask questions here and we will learn. source:https://t.me/DotCrypto
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The Retrospect and Prospect of the Crypto Economy——The Development and Evolution of the Consensus Mechanism (Three)

The Retrospect and Prospect of the Crypto Economy——The Development and Evolution of the Consensus Mechanism (Three)

https://preview.redd.it/45wwtygv2rc51.png?width=567&format=png&auto=webp&s=a5f51ea3c620d478231c39e32f198eb64d801897
Foreword
The consensus mechanism is one of the important elements of the blockchain and the core rule of the normal operation of the distributed ledger. It is mainly used to solve the trust problem between people and determine who is responsible for generating new blocks and maintaining the effective unification of the system in the blockchain system. Thus, it has become an everlasting research hot topic in blockchain.
This article starts with the concept and role of the consensus mechanism. First, it enables the reader to have a preliminary understanding of the consensus mechanism as a whole; then starting with the two armies and the Byzantine general problem, the evolution of the consensus mechanism is introduced in the order of the time when the consensus mechanism is proposed; Then, it briefly introduces the current mainstream consensus mechanism from three aspects of concept, working principle and representative project, and compares the advantages and disadvantages of the mainstream consensus mechanism; finally, it gives suggestions on how to choose a consensus mechanism for blockchain projects and pointed out the possibility of the future development of the consensus mechanism.
Contents
First, concept and function of the consensus mechanism
1.1 Concept: The core rules for the normal operation of distributed ledgers
1.2 Role: Solve the trust problem and decide the generation and maintenance of new blocks
1.2.1 Used to solve the trust problem between people
1.2.2 Used to decide who is responsible for generating new blocks and maintaining effective unity in the blockchain system
1.3 Mainstream model of consensus algorithm
Second, the origin of the consensus mechanism
2.1 The two armies and the Byzantine generals
2.1.1 The two armies problem
2.1.2 The Byzantine generals problem
2.2 Development history of consensus mechanism
2.2.1 Classification of consensus mechanism
2.2.2 Development frontier of consensus mechanism
Third, Common Consensus System
Fourth, Selection of consensus mechanism and summary of current situation
4.1 How to choose a consensus mechanism that suits you
4.1.1 Determine whether the final result is important
4.1.2 Determine how fast the application process needs to be
4.1.2 Determining the degree to which the application requires for decentralization
4.1.3 Determine whether the system can be terminated
4.1.4 Select a suitable consensus algorithm after weighing the advantages and disadvantages
4.2 Future development of consensus mechanism
Last lecture review: Chapter 1 Concept and Function of Consensus Mechanism plus Chapter 2 Origin of Consensus Mechanism
Last lecture review: Chapter 3 Common Consensus Mechanisms

Chapter 3 Common Consensus Mechanisms (Part 2)
Figure 6 Summary of relatively mainstream consensus mechanisms

https://preview.redd.it/2yepvjjy2rc51.png?width=567&format=png&auto=webp&s=acaed31fa6106ac2f501fe2cb284f66bb2258a0e
Source: Hasib Anwar, "Consensus Algorithms: The Root Of The Blockchain Technology"
The picture above shows 14 relatively mainstream consensus mechanisms summarized by a geek Hasib Anwar, including PoW (Proof of Work), PoS (Proof of Stake), DPoS (Delegated Proof of Stake), LPoS (Lease Proof of Stake), PoET ( Proof of Elapsed Time), PBFT (Practical Byzantine Fault Tolerance), SBFT (Simple Byzantine Fault Tolerance), DBFT (Delegated Byzantine Fault Tolerance), DAG (Directed Acyclic Graph), Proof-of-Activity (Proof of Activity), Proof-of- Importance (Proof of Importance), Proof-of-Capacity (Proof of Capacity), Proof-of-Burn ( Proof of Burn), Proof-of-Weight (Proof of Weight).
Next, we will mainly introduce and analyze the top ten consensus mechanisms of the current blockchain.
》DBFT
-Concept:
Delegated Byzantine fault tolerance. The improved Byzantine fault-tolerant algorithm makes it suitable for blockchain systems. The system consists of nodes, delegators (who can approve blocks), and speakers (who proposes the next block). It is a consensus algorithm that guarantees fault tolerance implemented inside the NEO blockchain.
-Principle:
In this mechanism, there are two participants: the professional bookkeeper "bookkeeping node" and the ordinary users in the system.
Ordinary users vote based on the proportion of holding stake to determine the bookkeeping node. When a consensus is required, a spokesperson is randomly selected from these bookkeeping nodes to draw up a plan, and then other bookkeeping nodes will vote basing on the Byzantine fault tolerance algorithm.That is, majority principle. If more than 66% of the nodes agree to the spokesperson’ plan, a consensus is reached; otherwise, the spokesperson is re-elected and the voting process is repeated.
-Representative application: Neo, etc.
》PoA
-Concept:
Proof of authority. That is, certified by some accredited accounts, these accredited accounts are called "validators". The software that the verifier runs that supports the verifier to place transactions in blocks.
-Principle:
Three conditions:
  1. The identity must be formally verified on the chain, and the information can be cross-verified in a publicly available domain;
  2. The qualifications must be difficult to obtain, so that the rights of the verification block obtained are precious enough;
  3. The authoritative inspection and procedures must be completely unified.
With PoA, every individual has the right to become a verifier, so there is an incentive to maintain the position of the verifier once acquired. By attaching a reputation to the identity, the verifier can be encouraged to maintain the transaction process. Because the verifier does not want to gain a negative reputation, it will lose its hard-won verifier status.
-Representative applications: VeChain, etc.
》DAG
-Concept:
Directed acyclic graph. Each newly added unit in the DAG is not only added to the long chain block, but added to all the previous blocks, verifying each new unit and confirming its parent unit and the parent unit of the parent unit, and gradually confirming until the genesis unit. As the hash of its parent unit is included in its own unit, the blockchains of all transactions are connected to each other to form a graph-like structure with time.
-Principle:
In the DAG network, each node can be a trader and a validator, because the transaction processing in DAG is done by the transaction node itself. Taking IOTA as an example, IOTA’s Tangle led
ger does not need to pay transaction fees while ensuring high-speed transaction processing. However, it does not mean that the transaction is free, because in this ledger, the initiation of each transaction needs to verify the other two random transactions first, and connect the transaction initiated by itself to these two transactions, so the responsibility that miners on the blockchain bear is distributed to all traders. The DAG method of processing transactions can be called asynchronous processing mode.
Figure 10 The difference between the traditional blockchain structure and the DAG structure

https://preview.redd.it/1xfssxj03rc51.png?width=553&format=png&auto=webp&s=95c382f81943c9a188a89ac6b2dadf64446589e6
-Representative applications: IOTA, etc.
》PoET
-Concept:
Proof of elapsed time. That is, it is usually used in a permissioned blockchain network. It can determine the mining rights of the block holders in the network. The permissioned blockchain network requires any prospective participants to verify their identity before joining. According to the principles of the fair lottery system, each node is equally likely to become the winner.
-Principle:
Each participating node in the network must wait for a randomly selected period, and the first node to complete the set waiting time will get a new block. Each node in the blockchain network will generate a random waiting time and sleep for a set time. The node that wakes up first, that is, the node with the shortest waiting time, wakes up and submits a new block to the blockchain, and then broadcasts the necessary information to the entire peer-to-peer network. The same process will be repeated to find the next block.
Two factors:
  1. Participating nodes will naturally select a random time in nature, rather than deliberately;
  2. The winner did complete the waiting time.
-Representative application: HyperLedger Sawtooth, etc.
》PoSV
-Concept:
Proof of stake velocity. Proposed by Reddcoin, drawing on the concept of "money circulation speed" in economics, it mainly allocates bookkeeping rights based on the coin age of nodes participating in the competition.
-Principle:
PoSV also allocates accounting rights according to the coin age of the nodes participating in the competition, but modifies the coin age calculation formula to a function of exponential decay of growth rate. Taking Reddcoin as an example, Reddcoin sets the half-life of the coin age growth rate to 1 month. Assuming that the unit token can accumulate 1CoinDay coin age on the first day, only 0.5CoinDay coin age can be accumulated on the 31st day, and only 0.25CoinDay coin age can be accumulated on the 61st day, and so on. In this way, the nodes are encouraged to use the token to conduct a transaction after holding the token for a period of time, thereby restarting the calculation of the coin age and increasing the circulation speed of the token in the network.
-Representative applications: Reddcoin, etc.
Table 2 Comparison of the advantages and disadvantages of current mainstream consensus mechanisms

https://preview.redd.it/kb04i7eh3rc51.png?width=1236&format=png&auto=webp&s=42de13bc99afaf258c0a740a6618e2d579b59100
Source: network resources
Chapter 4 Summary of the Selection and Status Quo of Consensus Mechanism
4.1 How to choose a consensus mechanism that suits you
Step 1: Determine whether the final result is important
For some applications, the end result is very important. If you are building a new payment system that can support very small amounts, it is acceptable for the transaction result to change. Similarly, if you are creating a new distributed social network, 100% guarantee that the status is updated immediately is not particularly necessary. On the contrary, if you are creating a new distributed protocol, the final result is critical to the user experience. For example, Bitcoin has a final confirmation time of about 1 hour, Ethereum has a final confirmation time of about 6 minutes, and Tendermint Core only has a final confirmation time of 1 second.
Step 2: Determine how fast the application process needs to be
If you are building a game, is it reasonable to wait 15 seconds before each action? Due to the low block processing time of Ethereum, games built on it will cause poor user experience due to Ethereum's throughput. However, the application for the transfer of housing property rights can be run on Ethereum. Use the Cosmos SDK to build an application that allows developers to freely use Tendermint Core. It has a short block processing time and high throughput, and is capable of processing 10,000 transactions per second. You can reduce the required communication overhead and speed up the application by setting the maximum number of validators for the application.
Step 3: Determine the application's demand for decentralization
Some applications such as games may not require very high censorship resistance as a by-product of decentralization. In theory, does it really matter that the validator can create a cartel in the game and reverse the transaction result for profit? If it is not important, a blockchain such as EOS may be more suitable for your needs because of the fast transaction speed and free fees. However, some applications such as autonomous banks are more powerful and decentralized. Although Ethereum is considered to be decentralized, some supporters claim that Ethereum's mining pool is an important part of centralized platform, although there are actually only 11 validators (mining pools). One of the major benefits of building your own blockchain instead of building on a smart contract platform is that you can customize the way the application completes verification. However, it is difficult to build your own blockchain, so the Cosmos SDK is very useful, you can easily build your own blockchain and customize the degree of decentralization you need.
Step 4: Determine whether the system can be terminated
If you are building a new application similar to a distributed ride-sharing service, then ensuring 24/7 service must be the first priority, even if there are occasional errors in accounting similar to transactions. One of the properties of Tendermint Core is that if there is a disagreement between network validators, the network will suspend operations instead of proceeding erroneous transactions. Applications such as decentralized exchanges require correctness at all costs-if there is a problem, it is far better to suspend trading on the decentralized exchange than there may be trading problems.
Summary: Choose a suitable consensus algorithm after weighing the advantages and disadvantages
All in all, there is no single best consensus algorithm. Each consensus algorithm has its own value and advantages. You need to have your own judgments and choices. However, by understanding the relevant processes of the consensus mechanism, including proposals and agreements, and establishing a framework to consider the types of consensus algorithms that your application may require, you should be able to make wiser decisions.
4.2 Future development of consensus mechanism
The consensus algorithm is one of the core elements of the blockchain. Although there are more than 30 consensus mechanisms listed in the article, there are still many niche consensus mechanisms that may not be discussed. As the blockchain technology is gradually known and accepted by the public, more and more newer and better consensus algorithms may appear in the future, which may be brand-new consensus algorithms, and more should be improvement and optimization version based on the current consensus algorithm.
After 2016 and 2017 years’ fast development, the current consensus algorithm does not have a recognized evaluation standard, but is generally more biased towards fairness and decentralization, as well as some technical related issues, such as energy consumption and scalability , Fault tolerance and security, etc. However, blockchain technology must be combined with requirements and application scenarios, and the consensus mechanism algorithm and incentive mechanism are inseparable. How to customize a suitable consensus mechanism according to the characteristics of your own project and optimize the current consensus mechanism will become the future direction of consensus mechanism development
CelesOS
As the first DPOW financial blockchain operating system, CelesOS adopts consensus mechanism 3.0 to break through the "impossible triangle", which can provide high TPS while also allowing for decentralization. Committed to creating a financial blockchain operating system that embraces supervision, providing services for financial institutions and the development of applications on the supervision chain, and formulating a role and consensus ecological supervision layer agreement for supervision.
The CelesOS team is dedicated to building a bridge between blockchain and regulatory agencies/financial industry. We believe that only blockchain technology that cooperates with regulators will have a real future. We believe in and contribute to achieving this goal.
📷Website
https://www.celesos.com/
📷 Telegram
https://t.me/celeschain
📷 Twitter
https://twitter.com/CelesChain
📷 Reddit
https://www.reddit.com/useCelesOS
📷 Medium
https://medium.com/@celesos
📷 Facebook
https://www.facebook.com/CelesOS1
📷 Youtube
https://www.youtube.com/channel/UC1Xsd8wU957D-R8RQVZPfGA
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Chromia - Blockchain of Blockchains That Has Staged To Revolutionize Decentralized Application Development

Blockchain has taken the world by storm. The tech may have been envisioned to power decentralized finance in Bitcoin, it's potential and use case had far exceeded such identity.
It has opened the possibility to develop trust and openness in a way that has never been expressed before.
However, like any new development, blockchain has many challenges that need to be addressed.
Firstly, existing protocols that power the initial set of blockchains are too slow to garner advanced real-world usage.
Their architectural build also implies they are unable to scale accordingly to meet application and usage demand.
Blockchains are renowned for their strong security and immutability, nonetheless, these factors rely solely on the type of protocol or consensus adopted, and in many cases, the consensus of a particular blockchain may fail to establish a secured environment that could be relied upon under factual circumstances.
On the developer end, developing and building blockchain applications is a nightmare many wanted to escape because most integrated blockchain programming languages are new with an unestablished root. This means programmers have to learn a new language from basics before they can start building on a blockchain network.
The hardest part is that almost each of every type and brand of blockchain has its unique programming language which as a result contributes to non-interoperability that led to a status quo of blockchains being called an "island of self-isolation".
An obvious solution to most of the aforementioned downsides is to start restructuring how blockchains are made by design and code.
The good news is that a blockchain project with a new root has already achieved the feat of addressing most of these problems by building a relational blockchain system governed by a management system termed "Postchain".
I am talking about Chromia blockchain network built by the ChromaWay development team.
Chromia
Chromia is a public blockchain with a relational database system build and design. What this means is that data can be structured and defined in any way by the builder of the system. This flexibility of data management allows for different usage scenarios.
This is a sweet pot for developers but what is more interesting is the ability to code and deploy applications in a seamless manner.
Chroma uses Postchain to oversee the operation of its blockchain network in conjunction with a flexible and easy-to-code programming language called RELL (Relational Language).
Great protocol design? Thumb up! Nice programming language... Interesting! But what about other challenges mentioned in the opening part of the post?
Hell yeah! A blockchain system cannot be duly considered if it can't scale and operate at a good speed.
Chromia takes this factor to heart and ensures its network is able to process transactions at a block rate of 2 seconds, which is more than enough to support most applications and commercial usage.
Blockchain Of Blockchains: Chromia Modular Configuration
One method spam is avoided on blockchain networks is through integrated fee structure, most times, this is charged directly from users. However, Chromia thinks this idea should be rewritten by instead charging Dapps directly for the operation they perform.
Consequently, and since most application usage differs from one type to another. This and many other implementations led to a modular blockchain design where each Dapp can reside on its own chain, dictate its own rule and usage and intended fee structure.
The Dapps in this case acts like side chains that are attached to the governing Chromia infrastructure. Each Dapp or side chain is independent but benefits from the security and laid facilities of the network.
Chromia adopted PBFT consensus to ensure consensus can be achieved under certain rules even if some node in the network cannot be relied upon at a time, thus, eliminating incidents such as 'one point of failure'.
An Infrastructure For A Wide Range Of Usage Scenario
Chromia launched its main net in Dec 2019, and moved from an experimental position to prove their dedication towards achieving their vision not just on paper but as a practical and working process.
Ever since their main net launch. The chain has seen different types of apps deploy on its network.
The network relational design also means Dapps with huge computational demand can work efficiently and seamlessly with any cause to worry.
Let's look at some of these Dapps.
Chromunity
A decentralized social media platform that leverages the advantage of the relational computational build of Chromia to bring about fantastic social and community user experience.
The advantages of Chromunity as a decentralized social platform is how users can control their data and interactions, vote for representatives that implement the will and voice of the community.
Chromunity features a Reddit-like design and interface with the ability to post short/long meaningful content to a wide range of community categories or specific ones.
These screenshots give a sneak peek into how the interactive user interface looks like.
Green Asset Wallet
This is the first enterprise Dapp to launch on the Chromia chain after its main net release.
Using the quote of how the project defines itself.
"Green Assets Wallet is the world’s first blockchain-based platform for easy validation and impact reporting of green bonds".
The product has many features that are designed to suit investor's needs. From real-time collaboration to ensuring optimum trust and transparency to security. The Dapp is ideal for green bonds operations that look to make issuer and investors' lives an easier one.
Investors have direct access to trusted green bond information, metrics, and data.
Green asset wallet at allows investors to make new investment discoveries through search criteria, compare, benchmark, and follow up on investment opportunities".
Issuers are able to operate with an independent, cost-efficient, and structured system, and provide investors with impact investment opportunities and report on achievements.
Mines Of Dalarnia
Is "an action-adventure platform-mining game where the player controls a character and guides them through various blocks of earth, to discover and collect minerals of multiple rarities. Includes a blockchain based real-estate market".
Chromia transaction speed and computational efficiency make it an ideal platform to build decentralized or blockchain games of different kinds.
Play Mines Of Dalarnia
Conclusion
Chromia combines many groundbreaking features that purport it as a new generation blockchain and set it out among the crowd.
It's easy to code programming language, Postchain consortium, relational database system express qualities that fit different needs of decentralized applications and their operations. All of which state the chain strength and confidence of usage.
Under the governance of ChromaWay - an organization of tech experts and geeks. Chromia is expected to continue on an upward positive momentum.
Learn more about the project from it's official website
Their Telegram group chat is a good place to start interacting with the community.
Chromia has a Twitter presence and their Whitepaper is a good reference and tool to have a good overview of the project mission and vision at large.
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Review and Prospect of Crypto Economy-Development and Evolution of Consensus Mechanism (2)

Review and Prospect of Crypto Economy-Development and Evolution of Consensus Mechanism (2)

https://preview.redd.it/a51zsja94db51.png?width=567&format=png&auto=webp&s=99e8080c9e9b1fb5e11cbd70f915f9cb37188f81
Foreword
The consensus mechanism is one of the important elements of the blockchain and the core rule of the normal operation of the distributed ledger. It is mainly used to solve the trust problem between people and determine who is responsible for generating new blocks and maintaining the effective unification of the system in the blockchain system. Thus, it has become an everlasting research hot topic in blockchain.
This article starts with the concept and role of the consensus mechanism. First, it enables the reader to have a preliminary understanding of the consensus mechanism as a whole; then starting with the two armies and the Byzantine general problem, the evolution of the consensus mechanism is introduced in the order of the time when the consensus mechanism is proposed; Then, it briefly introduces the current mainstream consensus mechanism from three aspects of concept, working principle and representative project, and compares the advantages and disadvantages of the mainstream consensus mechanism; finally, it gives suggestions on how to choose a consensus mechanism for blockchain projects and pointed out the possibility of the future development of the consensus mechanism.
Contents
First, concept and function of the consensus mechanism
1.1 Concept: The core rules for the normal operation of distributed ledgers
1.2 Role: Solve the trust problem and decide the generation and maintenance of new blocks
1.2.1 Used to solve the trust problem between people
1.2.2 Used to decide who is responsible for generating new blocks and maintaining effective unity in the blockchain system
1.3 Mainstream model of consensus algorithm
Second, the origin of the consensus mechanism
2.1 The two armies and the Byzantine generals
2.1.1 The two armies problem
2.1.2 The Byzantine generals problem
2.2 Development history of consensus mechanism
2.2.1 Classification of consensus mechanism
2.2.2 Development frontier of consensus mechanism
Third, Common Consensus System
Fourth, Selection of consensus mechanism and summary of current situation
4.1 How to choose a consensus mechanism that suits you
4.1.1 Determine whether the final result is important
4.1.2 Determine how fast the application process needs to be
4.1.2 Determining the degree to which the application requires for decentralization
4.1.3 Determine whether the system can be terminated
4.1.4 Select a suitable consensus algorithm after weighing the advantages and disadvantages
4.2 Future development of consensus mechanism
Last lecture review: Chapter 1 Concept and Function of Consensus Mechanism plus Chapter 2 Origin of Consensus Mechanism
Chapter 3 Common Consensus Mechanisms (Part 1)
Figure 6 Summary of relatively mainstream consensus mechanisms
📷
https://preview.redd.it/9r7q3xra4db51.png?width=567&format=png&auto=webp&s=bae5554a596feaac948fae22dffafee98c4318a7
Source: Hasib Anwar, "Consensus Algorithms: The Root Of The Blockchain Technology"
The picture above shows 14 relatively mainstream consensus mechanisms summarized by a geek Hasib Anwar, including PoW (Proof of Work), PoS (Proof of Stake), DPoS (Delegated Proof of Stake), LPoS (Lease Proof of Stake), PoET ( Proof of Elapsed Time), PBFT (Practical Byzantine Fault Tolerance), SBFT (Simple Byzantine Fault Tolerance), DBFT (Delegated Byzantine Fault Tolerance), DAG (Directed Acyclic Graph), Proof-of-Activity (Proof of Activity), Proof-of- Importance (Proof of Importance), Proof-of-Capacity (Proof of Capacity), Proof-of-Burn ( Proof of Burn), Proof-of-Weight (Proof of Weight).
Next, we will mainly introduce and analyze the top ten consensus mechanisms of the current blockchain.
》POW
-Concept:
Work proof mechanism. That is, the proof of work means that it takes a certain amount of computer time to confirm the work.
-Principle:
Figure 7 PoW work proof principle
📷
https://preview.redd.it/xupacdfc4db51.png?width=554&format=png&auto=webp&s=3b6994641f5890804d93dfed9ecfd29308c8e0cc
The PoW represented by Bitcoin uses the SHA-256 algorithm function, which is a 256-bit hash algorithm in the password hash function family:
Proof of work output = SHA256 (SHA256 (block header));
if (output of proof of work if (output of proof of work >= target value), change the random number, recursive i logic, continue to compare with the target value.
New difficulty value = old difficulty value* (time spent by last 2016 blocks /20160 minutes)
Target value = maximum target value / difficulty value
The maximum target value is a fixed number. If the last 2016 blocks took less than 20160 minutes, then this coefficient will be small, and the target value will be adjusted bigger, if not, the target value will be adjusted smaller. Bitcoin mining difficulty and block generation speed will be inversely proportional to the appropriate adjustment of block generation speed.
-Representative applications: BTC, etc.
》POS
-Concept:
Proof of stake. That is, a mechanism for reaching consensus based on the holding currency. The longer the currency is held, the greater the probability of getting a reward.
-Principle:
PoS implementation algorithm formula: hash(block_header) = Coin age calculation formula: coinage = number of coins * remaining usage time of coins
Among them, coinage means coin age, which means that the older the coin age, the easier it is to get answers. The calculation of the coin age is obtained by multiplying the coins owned by the miner by the remaining usage time of each coin, which also means that the more coins you have, the easier it is to get answers. In this way, pos solves the problem of wasting resources in pow, and miners cannot own 51% coins from the entire network, so it also solves the problem of 51% attacks.
-Representative applications: ETH, etc.
》DPoS
-Concept:
Delegated proof of stake. That is, currency holding investors select super nodes by voting to operate the entire network , similar to the people's congress system.
-Principle:
The DPOS algorithm is divided into two parts. Elect a group of block producers and schedule production.
Election: Only permanent nodes with the right to be elected can be elected, and ultimately only the top N witnesses can be elected. These N individuals must obtain more than 50% of the votes to be successfully elected. In addition, this list will be re-elected at regular intervals.
Scheduled production: Under normal circumstances, block producers take turns to generate a block every 3 seconds. Assuming that no producer misses his order, then the chain they produce is bound to be the longest chain. When a witness produces a block, a block needs to be generated every 2s. If the specified time is exceeded, the current witness will lose the right to produce and the right will be transferred to the next witness. Then the witness is not only unpaid, but also may lose his identity.
-Representative applications: EOS, etc.
》DPoW
-Concept:
Delayed proof of work. A new-generation consensus mechanism based on PoB and DPoS. Miners use their own computing power, through the hash algorithm, and finally prove their work, get the corresponding wood, wood is not tradable. After the wood has accumulated to a certain amount, you can go to the burning site to burn the wood. This can achieve a balance between computing power and mining rights.
-Principle:
In the DPoW-based blockchain, miners are no longer rewarded tokens, but "wood" that can be burned, burning wood. Miners use their own computing power, through the hash algorithm, and finally prove their work, get the corresponding wood, wood is not tradable. After the wood has accumulated to a certain amount, you can go to the burning site to burn the wood. Through a set of algorithms, people who burn more wood or BP or a group of BP can obtain the right to generate blocks in the next event segment, and get rewards (tokens) after successful block generation. Since more than one person may burn wood in a time period, the probability of producing blocks in the next time period is determined by the amount of wood burned by oneself. The more it is burned, the higher the probability of obtaining block rights in the next period.
Two node types: notary node and normal node.
The 64 notary nodes are elected by the stakeholders of the dPoW blockchain, and the notarized confirmed blocks can be added from the dPoW blockchain to the attached PoW blockchain. Once a block is added, the hash value of the block will be added to the Bitcoin transaction signed by 33 notary nodes, and a hash will be created to the dPow block record of the Bitcoin blockchain. This record has been notarized by most notary nodes in the network. In order to avoid wars on mining between notary nodes, and thereby reduce the efficiency of the network, Komodo designed a mining method that uses a polling mechanism. This method has two operating modes. In the "No Notary" (No Notary) mode, all network nodes can participate in mining, which is similar to the traditional PoW consensus mechanism. In the "Notaries Active" mode, network notaries use a significantly reduced network difficulty rate to mine. In the "Notary Public Activation" mode, each notary public is allowed to mine a block with its current difficulty, while other notary public nodes must use 10 times the difficulty of mining, and all normal nodes use 100 times the difficulty of the notary public node.
Figure 8 DPoW operation process without a notary node
📷
https://preview.redd.it/3yuzpemd4db51.png?width=500&format=png&auto=webp&s=f3bc2a1c97b13cb861414d3eb23a312b42ea6547
-Representative applications: CelesOS, Komodo, etc.
CelesOS Research Institute丨DPoW consensus mechanism-combustible mining and voting
》PBFT
-Concept:
Practical Byzantine fault tolerance algorithm. That is, the complexity of the algorithm is reduced from exponential to polynomial level, making the Byzantine fault-tolerant algorithm feasible in practical system applications.
-Principle:
Figure 9 PBFT algorithm principle
📷
https://preview.redd.it/8as7rgre4db51.png?width=567&format=png&auto=webp&s=372be730af428f991375146efedd5315926af1ca
First, the client sends a request to the master node to call the service operation, and then the master node broadcasts other copies of the request. All copies execute the request and send the result back to the client. The client needs to wait for f+1 different replica nodes to return the same result as the final result of the entire operation.
Two qualifications: 1. All nodes must be deterministic. That is to say, the results of the operation must be the same under the same conditions and parameters. 2. All nodes must start from the same status. Under these two limited qualifications, even if there are failed replica nodes, the PBFT algorithm agrees on the total order of execution of all non-failed replica nodes, thereby ensuring security.
-Representative applications: Tendermint Consensus, etc.
Next Lecture: Chapter 3 Common Consensus Mechanisms (Part 2) + Chapter 4 Consensus Mechanism Selection and Status Summary
CelesOS
As the first DPOW financial blockchain operating system, CelesOS adopts consensus mechanism 3.0 to break through the "impossible triangle", which can provide high TPS while also allowing for decentralization. Committed to creating a financial blockchain operating system that embraces supervision, providing services for financial institutions and the development of applications on the supervision chain, and formulating a role and consensus ecological supervision layer agreement for supervision.
The CelesOS team is dedicated to building a bridge between blockchain and regulatory agencies/financial industry. We believe that only blockchain technology that cooperates with regulators will have a real future. We believe in and contribute to achieving this goal.

📷Website
https://www.celesos.com/
📷 Telegram
https://t.me/celeschain
📷 Twitter
https://twitter.com/CelesChain
📷 Reddit
https://www.reddit.com/useCelesOS
📷 Medium
https://medium.com/@celesos
📷 Facebook
https://www.facebook.com/CelesOS1
📷 Youtube
https://www.youtube.com/channel/UC1Xsd8wU957D-R8RQVZPfGA
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PBFT and Blockchains Blockfreight (BFT) Logistics blockchain technology Tokenomics Blockchain - YouTube Mir-BFT: A Scalable High-Throughput BFT for Blockchains - Marko Vukolic, IBM Next Generation Blockchains: Part 1

Smart Contracts) zur Bitcoin-Blockchain und ist dadurch die Grundlage für eine Vielzahl an energiewirtschaftlichen Anwendungsfällen und ein „Best-Practice-eispiel für die Technologie (bzgl. ihres heutigen Standes) in diesem Bericht. 3.1 Definition, Aufbau und Abgrenzung Der egriff „lockchain ^ definiert sich als „ dezentrale, chronologisch aktualisierte Datenbank mit einem aus dem ... Check Bitcoin (BTC) address 3EtiNdD2e9BUBkzguuSiMKkEJRCcrPbtQh balance and its transactions PBFT and cryptocurrency . In relation to the cryptocurrency industry, pBFT can be an alternative or addition to the proof-of-work (POW) consensus mechanism. While Bitcoin reaches Byzantine Fault Tolerance with its proof-of-work, it has many downsides. Bitcoin consensus demands large energy consumption, is difficult to scale and not very fast. Declaimer: This article is NOT a tutorial on blockchain. It is assumed that readers have sufficient knowledge about blockchain/bitcoin. Before talking about PBFT lets understand some terminologies ... I. 블록체인 합의 알고리즘의 개요 가. 블록체인 합의 알고리즘 (Blockchain Consensus Algorithm)의 개념 블록체인 네트워크 상에서 데이터(블록)의 무결성 검증 및 생성을 위한 노드 간 미리 정의된 절차 기반 의사결정 알고리즘 나. 분산 네트워크에서 신뢰성 문제점에 따른 합의 알고리즘의 필요성 분산 ...

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PBFT and Blockchains

From Bitcoin's proof-of-work (POW) to EOS' delegated proof-of-stake (DPOS), we have seen several consensus mechanisms. In today's class, we will see why TOP has chosen the unique pBFT-POS ... USE THE CODE: QhwV1r AT GENESIS MINING TO GET 3% OFF YOUR PURCHASE AND START MINING BITCOIN TODAY! Join Bitconnect and start earning interest off your Bitcoin, use the referral link : https ... What if blockchains no longer need blocks? What if each block can be broken into 6 pieces? Beyond the first-generation blockchain of Bitcoin, several players have emerged with innovative ways to ... Bitcoin 101 - Merkle Roots and Merkle Trees - Bitcoin Coding and Software - The Block Header - Duration: 24:18. CRI 42,378 views Mir-BFT: A Scalable High-Throughput BFT for Blockchains - Marko Vukolic, IBM In this talk we present Mir-BFT (or, simply, Mir), a robust and scalable Byzanti...

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