Precisely what is the "impossible triangle"?

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What is the "impossible triangle"?

The so-called "impossible triangle" means that inside the blockchain public stringed, it is difficult to attain both good "decentralization" and good "security" of the system. "Transaction Processing Performance. inches The "transaction processing performance" is often called TPS (Transactions Finalizing Per Second).

imposible triangle Actually the "impossible triangle" is not a arduous conclusion. It is just a brief summary of the actual working with status of each open chain in the industry. Frankly, it is not necessarily of the fact that public chain can't do well in the two aspects of "decentralization", "security" and "transaction producing performance", but it have not done well within these three factors at the moment.

Public chain. How is additional public chains?

Nowadays, the most famous open public chain projects usually are BTC, ETH, together with EOS.

First of all, let's study the Bitcoin - BTC.

BTC uses a consensus instrument based on Proof of Job (POW). In the conception of BTC enhancement, an ordinary computer may possibly participate in mining. Nevertheless later, with the skyrocketing currency price, exploration became profitable, which means that graphics card exploration appeared, and in the future ASIC mining equipments with stronger scheming power appeared, and eventually unified the estuaries and rivers and lakes. That mining of typical computers and artwork cards is completely the past. At present, the construction and production from ASIC mining devices are almost monopolized by Bitmain, as well as the computing power with BTC's entire mobile phone network is almost monopolized by several large mining pools. Therefore , your "decentralization" of BTC seems to be inaccurate to numerous people.

In terms of "transaction processing performance", BTC's TPS is only concerning 7 transactions each and every second, which is completely unsuitable for day-to-day high-frequency and small-value transfers. It is this approach low transaction performance that has caused that BTC community being divided over the upcoming development of BTC. This disagreement isn't properly settled, eventually leading to a hard division of BTC money in 2017.

In terms of stability, compared with several other open chains, BTC is still the best. On the one hand, the scheming power of the over-all network is always improved with the bringing up-to-date of the ASIC exploration machine itself, along with on the other hand, new exploration machines are always added to continue to increase the computing power for the entire network. Based on estimates, the current value of attacking BTC is the highest at all POW public stores.

Next, we express blockchain 2 . 0 Ethereum - ETH. Although ETH is usually a consensus penrose triangle meaning resource based on proof of succeed. But it can nevertheless use graphics card mining, so the state of affairs of computing potential monopoly is not when serious as that of BTC. Additionally , the recent entire overall shift to help POS consensus to unravel the problem of research power monopoly, making it better than BTC in terms of decentralization.

ETH provides a slightly higher TPS than BTC, nevertheless because ETH is a smart contract principle, its application scenarios are more complex in addition to congestion is very likely to occur than BTC. As a result, the performance issues that ETH provides exploded have received more attention. Because of this, EOS, which was later very anticipated and troubled, was born.

In terms of safety measures, ETH is 2nd only to BTC.

We should take a look at EOS that had been so much expected. When EOS first released, TPS was a biggest selling point. In reality, the EOS with the once-proclaimed million-level TPS has long seeing that changed, because actually the TPS with EOS is only one or two hundred. But this approach does not prevent this from ranking optimum in terms of transaction finalizing speed of the two major public necklaces.

However , in order to achieve such a TPS, EOS comes with made huge surrender in the degree of decentralization. Compared to the 10, 000 nodes on the over-all network of BTC and ETH, it's only 21 nodes on the entire mobile phone network. Therefore , it is the a large number of questioned of the some major public chains in terms of "decentralization".

From a security perspective, because EOS has only 21 nodes in the entire network, it can be relatively easier with regard to hackers to infinite triangle breach 21 nodes as compared to to attack 1000s of nodes in BTC or ETH. Therefore , EOS is also a worst of the two in terms of security.

Early we analyzed the benefits of some public organizations and their effectiveness in the "impossible triangle", which is basically the current status of open chains. But in the case of the most promising court chain technology in recent years, Liberum must be stated.

At present, the basic theory of blockchain technological know-how is the development logic of "low-level open public chain → answer → project application". Therefore , even by way of 2020, the main place emphasis of the blockchain is still the competition of the hidden public chain assignments. It is obviously supporting the development with the entire blockchain business.

Liberum uses HWD-PoW as the core criteria, while ensuring a decentralization of the general public chain, it always effectively prevents 51% attacks. By breaking up transactions and wise contracts and coming up with a fixed block new release algorithm, the block production speed, achievements rate, latency, server cost, and scalability cost of the Liberum main network possess all broken days gone by technical barriers, tremendously surpassing the same underlying public market available on the market chain.

Facing a impossible triangle, Liberum adopts the unique HWD-PoW innovative consensus process to try to optimize the balance between security in addition to transaction processing tempo while maintaining a high degree of decentralization.

People selected three realistic Ethereum mainnet conditions for experiments, and the results were in keeping with the official claims. While using the HWD-PoW solution might indeed increase the infiltration cost by greater than 100 times.

Additionally , one of the reasons for your inefficiency of prevailing blockchain solutions can be that all nodes need to process the same task multiple times. The sharding technology supplies more powerful processing power proportional to the availablility of nodes in the mobile phone network by sharding the nodes. Through sharding technology and ground-breaking improvements that standalone transactions from smart contracts, Liberum's advanced hierarchical group cycle system has greatly improved the overall transaction processing speed. The theory is that, TPS can get through to tens of a huge number. However , it is appreciated that, because Liberum is still in the initial phases of development, in order to reduce development pressure and reduce throw away of resources, this core team now has some restrictions. Liberum's transaction handling speed is momentarily stable at approximately 20, 000 TPS. But even so, the following ultra-high TPS has got thrown EOS, ETH and BTC a long way away.

According to the overall analysis, Liberum has an unmatched high speed inside overall transaction handling speed of the ongoing public chain available, while its specific HWD-PoW innovative complete mechanism maintains a healthy degree of decentralization although successfully attacking a attacker to increase spend. The cost of episodes and 51% attacks has also risen to your level that cannot be surpassed by some other public chains. It truly is no wonder that will after the new associated with Liberum mainnet will launch soon released recently, there are many know-how enthusiasts on the market who highly respect that underlying public string that broke a "processing speed-security-centralization" improbable triangle.

You might have heard about “the impossible triangle” which has triggerred heated discussion in cryptocurrency communities. We will discuss whether it is a true concept or a pseudo one, because only when we can distinguish the authenticity and no longer waste time on the pseudo one, it is possible to explore the issues worthy the [...]