3 projects that aim to surpass the Blockchain Trilemma
Since the inception of Bitcoin we have been encountering problems with scalability, Bitcoin only processing about 7 transactions per second on average while Ethereum processes 15 transactions per second on average. The problem coined by Ethereum as the Blockchain Trilemma insists that Blockchains can’t obtain all three main factors in blockchain; decentralization, security, and scalability.
Over the time solutions have been introduced such as the use of a Committee which centralizes the network by electing a group of validators.
The Lighting Network which is put to use in Bitcoin and shows flaws in its security thus only being viable for micro-payments.
And Sharding which will be implemented into Ethereum which shows major security vulnerabilities; due to this many Ethereum supporters are seeking for an alternative.
Thundercore, Flow, and Scroda are taking us into a new era where the Blockchain Trilemma is surpassed. Breaking the consensus protocol down and accepting the bad in blockchain which is centralized scaling which comes in the form of a leader and/or committee and introducing the good alongside it which is decentralization and the security it provides thus obtaining perfect harmony; Yin and Yang.
Thundercore
Thundercore introduces two side chains a fast paced one and a slow paced one. The fast paced chain utilizes a committee of 32 members, if an error is found in the fast paced chain it is then deactivated and transactions are then verified on the slow paced chain only.
Flaws: Committee still has control over verification on transactions and due to this and the time it takes for them to communicate with each other Thundercore is only able to achieve a transaction per second average of 1,200 transactions if on the fast-paced chain and if switched to the slow chain a much lower transaction per second.
Status: Main-net is live.
Flow
Flow separates the jobs typically done by a single node across five different node types. The nodes being Collector Nodes, Consensus Nodes, Execution Nodes, Verification Nodes, Observer Nodes.
- Collectors Nodes are split into clusters in which they report and come to agreement as to which transactions they have received.
- Such data is then sent to the Consensus Nodes in which are to establish an Order of Execution while making no commitment to the resulting computation.
- Execution Nodes obtain the Execution Order from the Consensus Nodes in which they utilize raw computational power to determine the results from the Execution Order.
- Such result is broken down into chunks/clusters known as the Execution Receipt, if faulty Consensus Nodes will slash it, if approved it will be received by Verification Nodes where each node verifies a small amount of chunks/clusters.
- For each chunk/cluster approved by the Verification Node a Result Approval Receipt is generated which alongside with the Execution Receipt allows the Consensus Nodes to seal and finalize the current block.
Flaws: Using a committee for most node roles weaker security is offered and as all sealed blocks are finalized the weak security would allow for unrecoverable attacks on the blockchain. As far as scalability the complex system would not allow for the system to scale much reaching an estimated max of 10,000 transactions per second.
Status: In development.
Scroda
Scroda introduces a new protocol known as the Sub-Zero Protocol which permits it to achieve Sub-Second Zero-Confirmation Transactions all due to two chains coming together and becoming one, Yin and Yang.
The use of relay chains, the establishment of an order-of-events, and the verification of transactions on a transaction to transaction basis before permanently being placed on the Scroda main chain through the use of pBFT consensus alongside the use of Scroda ID allows for zero-confirmation transactions in sub-second time.
Yin is the chain in which is centralized; the bad in blockchain, while still showing properties in which are good for its users; its ability to scale. The yin chain solely focuses on establishing an order of events, through the use of a rotating leader, moving away from approaches seen in competitors in which utilize a committee.
Yang is the chain which is decentralized thus providing security, the good in blockchain; sluggish, a property in which is bad for its users. The yang chain focuses on verifying transactions after an order of event has been established on the yin chain, having a trail to now follow. This trail allows for all nodes on the Scroda platform to verify transactions together and reach consensus on a transaction to transaction basis before being placed on the mainchain; offering a fork free environment.
When a sender transmits a transaction and after a order of events has been established on such transaction on the yang chain, the receiver is able instantly verify on their own if such transaction is true and if true be assured that it will be processed from the security that is provided from the yang chain.
The yang chain maintains a list of active nodes which is updated along with every new verified block on-chain. The yin chain pulls this list from the yang chain and establishes a set of enforcers and leaders from it.
Upon the elected leader presenting his list of ordering of events along side the current valid hash header the valid header is then updated and the leader is rotated. The next leader submits his list alongside the current valid hash header, if a leader fails to submit a list withing the current time allocated the established enforcers will vote upon the leader being faulty and a new valid hash header will be generated alongside with a new leader.
- A new set of 20 enforcers is established every time a new active nodes list is established.
- Enforcers rotate only when one is found to be faulty by having failed to vote or by being malicious.
- Leaders and Enforcers may be pulled from the same active nodes list until updated being that the yin chain works faster then the yang.
Assuming that blocks are verified at a rate of 5 minutes per block on the yang chain we can assume that leaders would rotate 300 times per each active nodes list generated if rotating per second. Each node on the active nodes list must commit to being online for those 5 minutes or risk being penalized.
Flaws: None to date
Status: Looking for investors
Let us know your thoughts below.
Published at Sat, 14 Sep 2019 01:04:57 +0000
Bitcoin Pic Of The Moment
✅ This image from Marco Verch (trendingtopics) is available under Creative Commons 2.0. Please link to the original photo and the license. 📝 License for use outside of the Creative Commons is available by request.
By trendingtopics on 2019-04-03 20:16:34
