The latest World Bank report indicated the imperfection of blockchain algorithms as the main reason for the weak distribution of cryptocurrency. To date, digital currencies are inferior to fiat due to:
- Low transaction speed (scalability)
- The high power consumption of the PoW consensus algorithm, which is used by 90% of the coins
- The risk of "51% attack" - the capture of the prevalent power in the blockchain by a group of intruders, which leads to the possibility of "double spending" and undermines the credibility of technology
If Bitcoin is considered "blockchain 1.0", the subsequent evolution of digital currencies has led to the appearance of smart contracts that allow dynamically changing the block size, solving the problems of network congestion, and removing the energy dependence using PoS-mining. Such blockchains can be considered "version 2.0".
These decisions partially met the needs of business and fintech, but they did not solve the problem completely, so there was a draft of "blockchain 3.0"
- Using multi-dimensional chains of blocks,
- Connecting two different networks,
- Conducting part of transactions outside the blockchain in offline mode
At the stage of creating the third version of the decentralized technology, it became clear that it can not do without so-called masternodes - privileged nodes. Avoiding the peer-to-peer network model only exacerbates the trust problem.
Developers of the Seele platform were able to climb a step higher, offering the community a basis for future crypto - "blockchain 4.0":
- Consensus is achieved, as in the Bitcoin network, by processing all nodes, the "51% attack" is impossible due to a complex hybrid involving PoS, PoW and acyclic graph algorithms
- The acyclic graph of the IoTa network type, connected to the Lighting Network technology, allows processing up to 50% of off-network operations in the created channels
- The network uses the Heterogeneous Forest Network, a hierarchical catch system that allows you to work with any relative units - currencies, tokens, bytes of information, etc., sorting them into subnets
- Scalability and high processing speed are achieved by using the Value Transport Protocol (VTP), a search engine-indexer that instantly detects the requested information and determines the type of operation required.
Inside the network, the transaction validation is carried out under the control of artificial intelligence, which selects miners from the required hierarchy level. For example, launching content or downloading a huge data set will require Heterogeneous Forest Network nodes with high performance, whereas for a small transaction an acyclic graph of the lower level in the node hierarchy is enough.
To raise funds, the developers are launched Seele ICO. In the future, the Seele token will become the internal currency of the network, in which the work of the miners, transactions commissions, storage of information, launch of smart contracts will be made.
Seele ICO is a unique opportunity to invest "in the future of the most futuristic technology". So do not miss the chance, register on the WEBSITE and get the Seele token!