System-level decentralization–Real ambition of Parallel Blockchain

 

System-level decentralization–Real ambition of Parallel Blockchain

 

As one of the crucial features of the blockchain

“Decentralization”is being marginalized

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For performance
Consortium chain chose local decentralization requiring permission

For convenience

Exchanges use various transaction pairs with a centralized system

All public chains in order to satisfy everyone’s fantasy of TPS

Use PoS, dPoS, DAG, etc. To replace traditional PoW

Even Vitalik Buterin ( The founder of ETH )
In order to get rid of the big miners

Don’t hesitate to work for PoS team

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Is decentralization really not worth to be cherished?

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Honestly,

For the consortium chain that focuses on solving business problems

For an interest-oriented exchange

For XX chain which values fame more than dream

Decentralization may not really matter

But for

The parallel blockchain of Paralism

Which is committed to building a global value network

Decentralization is utterly important

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About the reason why decentralization is so important.

Basically the first point is well known

Safety

Value network

If huge value concentrate in

The hands of one or several nodes

That will be the target of many hackers’ life-driven goals.

For safety, it must be decentralized

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More importantly,

Decentralization is actually the fundamental factor for scalability

The boundaries of rights and the boundaries of networks are always negatively correlated

To build a Limitless value internet

If there is a privileged node in this network

Siphon effect

The privileged will restrain the access to the network

Thus severely limit

Scalability

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To achieve peer-to-peer value transfer

And to build a global internet of value

Decentralization is needed without doubt

However, humans have millions of years’

History of “Game of Thrones”

Blockchain using the code to achieve decentralization is not that easy!

7

The Old-fashioned chain-Pow, its mining model
Although nodes can participate fairly

What they participate is essentially a fight

With the risk of 51% power attack

PoS, proof of stake

Publicly excluding the poor and decentralization

PBFT , sacrificing decentralization for performance

How does Paralism solve problem of decentralization?

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Let’s go back to
The System- level Buddy consensus

Based on the principle of peer-to-peer mutual authentication of Paxos algorithm

                             It is the crucial design of decentralization 

9

 

Traditional algorithm-Proof of X

Basically all involve the competition for ledger writing rights

And only one node can finally write the book.

No matter how fair the mechanism of the previous competition

As long as there is competition, there will be weak and strong.
Thus there is a risk of creating privileged nodes

Ie. The risk of centralization

  

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However the Buddy algorithm itself

No need to fight for ledger writing rights

When there is a demand for register on-chain

Will carry out reciprocal inter-attestation between nodes with the same requirements

And then form the consensus

During this process

No matter it is local consensus or global consensus

All nodes can be participate in the consensus process

And the status is completely equal

No need for “fight” to avoid vicious competition

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If the traditional blockchain uses “King’s Consensus”

Then Parallel blockchain uses “Democracy consensus”

To achieve the complete decentralization

Paralism carries the future of Value Network
www.paralism.com

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See you next time !

The original link:http://www.paralism.com/blog/system-level-decentralization-real-ambition-of-parallel-blockchain/

Web:

http://www.hyperchain.net

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