Problems
Hello friends! As you know the properties and features of certain blockchains depend mainly on the problems they have to solve. This simple idea has the volume of basic content pressed under infinity regarding common delusions among people, assessing blockchain classification.
In the decentralized system, the key is how to unify the content of data stored on the blockchain. Because there are so many buttons on the system, it is impossible to guarantee that all nodes will update and store data correctly. And so the consensus mechanism was born to ensure this. So what is the consensus mechanism? Are there projects developing a consensus mechanism? Let's find out below:
About consensus mechanism
It is understandable that the consensus mechanism is the "play rule" of the system. Anyone involved must follow and cannot deliberately play wrong.
In other words, Consent is a way to reach an agreement. A distributed system without a general consensus would collapse within a few seconds. It doesn't even matter whether the system participants believe in each other specifically or don't trust at all. All the same, they need to agree on some operating principles that will be popular for everyone. And this is the direct role of a consensus mechanism.
The centralized system is made up of a data structure and a consensus mechanism(algorithm). The system has a fast or slow processing speed, its scalability depends on these two factors. Recent projects focus on improving the blockchain structure and consensus mechanisms to improve system performance. Typical including harmony.one project - A low-fee consensus platform. What is harmony? What advantages does it have?
About harmony project
Harmony is an open infrastructure, a high-throughput, low-latency, low-fee consensus platform designed to power decentralized economies in the future.
Their goal is to provide scalability and decentralization. The promise of blockchain is to allow decentralized coordination at scale but no platform can achieve both. Harmony is built to aim to change that.
Harmony implements a full stack approach to solving consensus at the scale level. Harmonyi applies innovations 10 times in every class in consensus algorithms, systems and networks to maximize network performance while maintaining hierarchy. Harmony's end-to-end integration allows for faster iterations and more robust optimization than the modular approach.
Through the consensus protocol, their consensus protocol uses design principles such as shending and pipelining to parallel transaction processing. This allows them to effectively handle connection latency and allow their throughput to expand according to the size of the network.
Advantages of Harmony project
Fully expandable:
Harmony not only protects network communication and authenticates transactions like Zilliqa, but also protects the blockchain status. This makes Harmony a fully scalable blockchain.
Safety protection:
Harmony protection can be secured with unpredictable, randomized, unidentifiable, verifiable and scalable randomization (DRG) process. Harmony also re-shared the network in an uninterrupted manner to prevent byzantine competitors from adapting slowly.
Effective and fast consensus:
Unlike other shending-based blockchain that requires PoW to select validators, Harmony is based on PoS and thus saves energy. Reaching consensus with the BFT algorithm can extend linearly 100 times faster than PBFT.
PoS Adaptation threshold:
The threshold threshold required for a node to participate in the network is adjusted based on the total amount of bets placed in the way that malicious investors cannot focus strength in a single fragment. . Moreover, this threshold is low enough for small manufacturers to still participate in the network and earn rewards.
Expandable network infrastructure:
With the RaptorQ fountain code, Harmony can transmit blocks quickly in segments or on the network using the Adaptive Information Algorithm. Harmony also applies Kademlia routing to achieve logarithmic-scale cross-segment transactions with the number of segments.
Consistent cross-linking transactions:
Harmony supports cross-segment transactions with direct communication segments. An atom locking mechanism is used to ensure consistency of cross-transactions.
Team
The members of Harmony are elite engineers and entrepreneurs from Google, Apple and Amazon, who have graduated from Harvard, Stanford, UPenn and CMU. With their rich knowledge, they have teamed up to build Harmony project
Roadmap
Conclusions
We have gone through the most common consensus mechanisms, which have been tested in practical use. Although, it is important to remember that none of them are perfectly perfect and do not have any universal method to achieve consensus in a partially dispersed or decentralized environment. Each has its own advantages and disadvantages. That's why the algorithms are constantly updated and supplemented with different plugins. Sometimes the approaches combined from different consensus create a grafting approach.
As you can see, the creative sector for developers is quite wide. And that's a particularly good news. Because blockchain without the same consensus as a smartphone without an Internet connection - is quite reasonable, but almost meaningless.
By innovating on both the protocol and the network layer, Harmony provides the world with a safe and scalable blockchain system that can support emerging emerging economies. Harmony will allow applications that were previously not feasible on the blockchain, including high volume decentralized exchanges, interactive fair games, Visa scale payment systems and Internet-of-Things transactions. Harmony strives to expand trust for billions of people and create a completely fair economy. So, you should spend a little time to research this project more closely through the links below:
Website: https://harmony.one/
Telegram: https://t.me/harmony_one
Twitter: https://twitter.com/harmonyprotocol
Medium: https://medium.com/harmony-one
Author: linjinklop
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