Paralism has solved the long-standing problem of time consistency in the industry through the Proof of Buddy (PoB) consensus algorithm. In addition, with its Hyperblock structure, Paralism allows each parallel sub-chain to have unlimited scalability and cross-chain functionality, while also providing stability similar to running on a Bitcoin public chain.
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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!
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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
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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 !