What is Phore Blockchain?
Phore (PHR) is a scalable, secure, and flexible platform being built to empower individuals, businesses, and the cryptocurrency industry. Alongside this, a decentralized application ecosystem is being created in order to challenge industries in which users are suffering as a direct result of centralization. Ecommerce and crowdfunding are two examples of industries being challenged by Phore, where centralization has lead to huge problems such as mass censorship and significant data leaks. The Phore Decentralized Marketplace already allows for free commerce of physical or virtual goods and services, and will soon have support for Cryptocurrency trading. Design has begun to support fully peer to peer, decentralized and censorship-resistant crowdfunding, as one of the next major additions to Phore's suite of cryptocurrency-powered end-user applications.
What is Synapse?
Synapse is the world's most advanced & scalable blockchain architecture! it is a revolutionary architecture which makes use of sharding technology and will have a theoretical capacity to process hundreds of thousands (100,000s) of transactions per second, support high-performance execution of fully Turing-complete smart contracts to support complex decentralized applications (dApps) and business models, and allow the creation of customized shards that are optimized for different use cases while allowing full interoperability between shards.
A look at Synapse Technology
Synapse is comprised of a few critical components: The beacon module, validator modules, shard modules, and relayer modules.
The Beacon Chain is what handles all of the proof-of-stake and validator registration transactions, and acts as the “main” network chain that links all of the Synapse shards together as one secure, integrated blockchain ecosystem.
Validator Modules interact with the beacon module. These modules are what produce the blocks for the beacon chain, and handle the user part of proof-of-stake functions. Validators commit to providing specific services to the Synapse network. There is a system of validator payment rewards and penalties that make up a core part of the enhanced security of the Synapse network, and provide a way for every Synapse user to actively participate in securing the Synapse network, and validators receive payments in return for staking and related services. They also run separately from the Synapse wallet, which will allow us to support secure, decentralized “cold staking” and even staking for balances held in mobile and other light node Synapse wallets.
The Shard Module acts as the “executor” for all of the side-chains. It executes the code for the side-chains and keeps them in sync with the beacon chain (see above).
The Relayer Module is the data management portion of the system, and keeps track of the entire state of each shard. “Relayers” then package up transactions to be submitted to the network, and advertise these packages to validators. Validators can then ensure that the packages validate without needing to keep track of the entire history of the shard. This module allows validators to execute transactions without syncing the entire state, which allows for both enhanced security a much better user experience because even full node user wallets will not need to download and validate a copy of the entire blockchain history — syncing wallet balances and transactions will be orders of magnitude faster.
A cross-link is a form of checkpoint that occurs in blocks when there is enough consensus across the Synapse network to finalize the block. Cross-links are used to finalize transactions that involve more than one shard, so they are used when moving balances from an address on one shard to an address on another shard.
All of these components working together create the world’s most advanced & scalable blockchain architecture!
Keep your eyes peeled for a brand new Synapse Development Update coming soon!
Visit phore.io to learn more about Phore Blockchain
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