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Tag: consensus algorithm

  • Zilliqa Sharding – 8x Performance Boost

    Zilliqa Sharding – 8x Performance Boost

    Zilliqa (ZIL Token) introduced sharding to solve scalability issues, enabling higher throughput for decentralized applications.

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    What is ZIL and How Does Sharding Help?

    ZIL, or Zilliqa, is a blockchain platform designed to solve the scalability issues plaguing decentralized applications (dApps). ZIL uses a novel sharding technology to increase the throughput of the network, allowing for more transactions to be processed in a shorter time span.

    What is Sharding?

    Sharding is a process of dividing a blockchain network into multiple smaller networks, or shards. This is because each shard can process transactions independently, without having to wait for the other shards to finish.

    How Does ZIL’s Sharding Technology Work?

    ZIL’s sharding technology is based on a novel consensus protocol called Practical Byzantine Fault Tolerance (PBFT). This protocol allows the network to be divided into multiple shards, each containing a set of nodes.

    Each shard is responsible for processing a subset of the transactions, allowing the network to process more transactions in a shorter time span.

    The PBFT consensus protocol also ensures that each shard is secure and reliable, as it requires the nodes in each shard to reach consensus before a transaction is processed. This ensures that no malicious actor can take control of the network and that all transactions are securely processed.

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    What Are the Benefits of ZIL’s Sharding Technology?

    ZIL’s sharding technology offers a number of benefits for dApps.

    ➜ Firstly, it allows the network to process more transactions in a shorter time span, as each shard can process transactions independently. This means that dApps can process more transactions in a shorter time span, allowing them to scale more easily.

    ➜ Secondly, ZIL’s sharding technology ensures that the network is secure and reliable. The PBFT consensus protocol ensures that all nodes in each shard reach consensus before a transaction is processed, meaning that no malicious actor can take control of the network. This makes ZIL’s sharding technology ideal for dApps that need to be secure and reliable.

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    Conclusion

    ZIL’s sharding technology is a novel solution to the scalability issues plaguing decentralized applications.

    By dividing the network into multiple shards and using the PBFT consensus protocol, ZIL’s sharding technology allows the network to process more transactions in a shorter time span.

    This makes it ideal for dApps that need to be secure and reliable, as it ensures that all transactions are securely processed.

    Frequently Asked Questions

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    Q: What is Sharding?
    A: Sharding is a form of database partitioning which splits large datasets into smaller, faster, more easily manageable parts called shards. It is used to improve the performance, scalability, and availability of databases.

    Q: How Does Sharding Help With Scalability?
    A: By splitting a single database into multiple shards, each individual shard is only responsible for a subset of the data, which significantly reduces the load on any one shard. This enables the database to process queries and transactions faster with more resources which improves scalability.

    Q: How Does Sharding Work?
    A: Sharding works by partitioning individual elements or records across multiple shards. Each record is assigned to a shard based on modulo or hash partitioning. The partitioning algorithm is run centrally by a shard manager which determines where each record belongs.

    Q: What Types of Applications Would Benefit From Sharding?
    A: Applications that require large amounts of data or large transaction loads can benefit from sharding. This includes decentralized applications, social networks, enterprise applications, and online gaming platforms.

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  • HBAR Hedera Hashgraph: Speed Like Never Before

    HBAR Hedera Hashgraph: Speed Like Never Before

    HBAR uses hashgraph consensus to provide a fast and secure public network without the need for extensive computation.

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    HBAR stands out as a unique player in the realm of digital currencies.

    It’s the native cryptocurrency of the Hedera Hashgraph network, and what sets it apart is its foundation on the Hashgraph consensus algorithm.

    This algorithm catapults HBAR into a league of its own by offering a fast, secure, and efficient alternative to traditional blockchain networks, all while sidestepping the need for hefty computational efforts.

    The Mechanics Behind Hashgraph Consensus

    What exactly is the Hashgraph consensus algorithm, you ask? Imagine a distributed ledger technology that’s akin to a supercomputer with a flair for democracy — that’s Hashgraph for you.

    It’s built on the principles of asynchronous Byzantine Fault Tolerance (aBFT), standing as a beacon of security in the decentralized world.

    The magic happens through a combination of a virtual voting system and a gossip protocol, allowing it to reach consensus without the mining or proof-of-work rigmarole that slows down other cryptocurrencies.

    It’s this distinctive approach that makes HBAR’s transactions lightning-fast and ironclad in security.

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    The Compelling Advantages of HBAR

    Let’s dive into what makes HBAR tick and why it’s catching the attention of folks everywhere:

    • Speedy Gonzalez Transactions: HBAR doesn’t just promise speed; it delivers it, making it a hotshot for real-time applications.
    • Pocket-Friendly Fees: Say goodbye to the days of forking over hefty fees for your transactions. HBAR is as economical as it gets.
    • Fort Knox Security: Leveraging the robust Hashgraph consensus, HBAR is a fortress against digital onslaughts.
    • A Decentralized Dream: Free from the reins of centralization, HBAR is a true champion of the decentralized vision, ensuring freedom from censorship and manipulation.

    The Visionaries: Hedera Hashgraph

    In 2017, Dr. Leemon Baird and Mance Harmon unveiled Hedera Hashgraph to the world, a venture set to revolutionize the way we think about cryptocurrency networks.

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    They’re not just about HBAR; they’re crafting an entire ecosystem with smart contracts, file storage, and dApps that are poised to redefine the digital landscape.

    In essence, Hedera Hashgraph isn’t just a company; it’s a trailblazer in creating a public network that’s secure, democratic, and versatile for countless applications. With HBAR as its vanguard, the possibilities are as boundless as they are exciting.

    And there you have it, a fresh look at what HBAR is all about — a cryptocurrency that’s not just part of the conversation but is driving it forward.

    Frequently Asked Questions

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    Q: What is Hashgraph?
    A: Hashgraph is an alternative to blockchain. It is a directed acyclic graph (DAG) which is an alternative data structure to blockchain and is based on a virtual voting system to come to a consensus.

    Q: How does Hashgraph provide fast and secure public networks?
    A: Hashgraph uses a consensus algorithm called Gossip Protocol, which allows data to be shared quickly and securely across a large network of computers. It also uses a Proof of Stake model which increases security by using virtual voting to come to a consensus on the validity of transactions. This ensures quick, secure, and reliable public networks.

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  • Algorand Solves The Blockchain Trilemma

    Algorand Solves The Blockchain Trilemma

    Designed for speed and efficiency, Algorand (ALGO) aims to solve the blockchain trilemma of scalability, security, and decentralization.

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    What is Algorand and How Does it Solve the Blockchain Trilemma?

    The blockchain trilemma is a term used to describe the three most important features of blockchain technology: scalability, security, and decentralization.

    While these three features are essential for a successful blockchain, they are often difficult to achieve simultaneously.

    Algorand is a permissionless, proof-of-stake blockchain protocol designed to solve the blockchain trilemma.

    About Algorand

    Algorand is a distributed ledger technology (DLT) protocol designed to address the blockchain trilemma. It is a permissionless, proof-of-stake blockchain protocol that is built to be secure, decentralized, and scalable.

    Algorand was founded by Silvio Micali, a Turing award-winning cryptographer, and is backed by a team of experienced technologists and entrepreneurs.

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    The Trilemma Solution?

    Algorand is designed to solve the blockchain trilemma by providing a secure, decentralized, and scalable blockchain protocol. Algorand uses a unique consensus algorithm called Pure Proof-of-Stake (PPoS). This consensus algorithm is designed to be secure, decentralized, and scalable.

    Security

    Algorand is designed to be secure by using a unique consensus algorithm called Pure Proof-of-Stake (PPoS). This consensus algorithm is designed to be secure by providing a secure and efficient consensus mechanism that is resistant to double-spending and other attacks.

    Decentralization

    Algorand is designed to be decentralized by using a unique consensus algorithm called Pure Proof-of-Stake (PPoS). This consensus algorithm is designed to be decentralized by ensuring that all participants in the network are equal and have equal influence over the network.

    Scalability

    Algorand is designed to be scalable by using a unique consensus algorithm called Pure Proof-of-Stake (PPoS). This consensus algorithm is designed to be scalable by allowing for high transaction throughput and low transaction fees.

    Conclusion

    Algorand is a distributed ledger technology (DLT) protocol designed to address the blockchain trilemma. It is a permissionless, proof-of-stake blockchain protocol that is built to be secure, decentralized, and scalable.

    Learn more on their LinkedIn Page.

    Algorand uses a unique consensus algorithm called Pure Proof-of-Stake (PPoS) to ensure that all participants in the network are equal and have equal influence over the network.

    This consensus algorithm is designed to be secure, decentralized, and scalable, allowing for high transaction throughput and low transaction fees.

    Frequently Asked Questions

    Q: What is Algorand?
    A: Algorand is a secure, efficient, and decentralized blockchain protocol that enables rapid transaction finality for businesses and developers worldwide.

    Q: What is the blockchain trilemma?
    A: The blockchain trilemma refers to the challenge of creating a blockchain system that is simultaneously decentralized, secure, and scalable.

    Q: What does Algorand do to solve the blockchain trilemma?
    A: Algorand’s secure, fast, and decentralized platform is designed to improve scalability, security, and decentralization, while maintaining economic viability. Through Algorand’s Proof of Stake consensus mechanism, transactions are validated quickly and securely, enabling enterprises to scale without sacrificing decentralization or security.

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    This post was automated by Make and generated with ChatGPT Research. It may contain errors or outdated content.