What exactly is the "impossible triangle"?

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What exactly is the "impossible triangle"?

The so-called "impossible triangle" means that within the blockchain public cycle, it is difficult to obtain both good "decentralization" and good "security" of the system. "Transaction Processing Performance. inch The "transaction finalizing performance" is often labelled as TPS (Transactions Processing Per Second).

infinite triangle In fact , the "impossible triangle" is not a difficult conclusion. It is just a outline of the actual functioning status of each public chain in the industry. Frankly, it is not necessarily that public chain is unable to do well in the a few aspects of "decentralization", "security" and "transaction digesting performance", but it has never done well within these three aspects at the moment.

Public cycle. How is many other public chains?

Nowadays, the most famous public chain projects are BTC, ETH, and additionally EOS.

First of all, shall we study the Bitcoin - BTC.

BTC uses a consensus instrument based on Proof of Operate (POW). In the birth of BTC advancement, an ordinary computer may possibly participate in mining. Nonetheless later, with the skyrocketing currency price, exploration became profitable, which means that graphics card mining appeared, and in the future ASIC mining machines with stronger computing power appeared, and eventually unified the estuaries and rivers and lakes. The mining of typical computers and layouts cards is completely historical past. At present, the construction and production associated with ASIC mining machines are almost monopolized by Bitmain, and the computing power involving BTC's entire multi-level is almost monopolized just by several large exploration pools. Therefore , this "decentralization" of BTC seems to be inaccurate to numerous people.

In terms of "transaction processing performance", BTC's TPS is only approximately 7 transactions a second, which is completely unsuitable for day by day high-frequency and small-value transfers. It is this approach low transaction functioning that has caused that BTC community being divided over the forthcoming development of BTC. This disagreement hasn't been properly settled, in due course leading to a hard shell of BTC money in 2017.

In terms of safety measures, compared with several other general public chains, BTC is still the best. On the an individual hand, the scheming power of the general network is consistently improved with the updating of the ASIC mining machine itself, and on the other hand, new mining machines are continuously added to continue to boost the computing power within the entire network. According to estimates, the current value of attacking BTC is the highest off POW public stores.

Next, we clarify blockchain 2 . 0 Ethereum - ETH. Although ETH is additionally a consensus imposible triangle resource based on proof of succeed. But it can always use graphics business card mining, so the condition of computing electrical power monopoly is not as serious as that of BTC. Additionally , the recent entire overall shift to POS consensus to unravel the problem of computing power monopoly, making it better than BTC when it comes to decentralization.

ETH contains a slightly higher TPS than BTC, nevertheless because ETH can be described as smart contract base, its application circumstances are more complex in addition to congestion is almost certainly going to occur than BTC. As a result, the results issues that ETH offers exploded have received even more attention. Because of this, EOS, which was later extremely anticipated and uneasy, was born.

In terms of stability, ETH is second only to BTC.

We should take a look at EOS that had been so much expected. The moment EOS first became available, TPS was its biggest selling point. Frankly, the EOS in the once-proclaimed million-level TPS has long since changed, because actually , the TPS from EOS is only several hundred. But that does not prevent this from ranking highest in terms of transaction processing speed of the two major public organizations.

However , in order to achieve a really TPS, EOS has got made huge sacrifices in the degree of decentralization. Compared to the 10, 000 nodes on the comprehensive network of BTC and ETH, it has only 21 nodes on the entire multi-level. Therefore , it is the the majority of questioned of the two major public restaurants in terms of "decentralization".

By a security perspective, since EOS has just 21 nodes with the entire network, it can be relatively easier for hackers to penrose triangle meaning strike 21 nodes as compared to to attack countless nodes in BTC or ETH. Therefore , EOS is also your worst of the two in terms of security.

Previous we analyzed the benefits of some public stores and their functioning in the "impossible triangle", which is basically the ongoing status of general public chains. But in regards to the most promising public chain technology nowadays, Liberum must be talked about.

At present, the basic theory of blockchain technology is the development judgement of "low-level open public chain → answer → project application". Therefore , even by 2020, the main concentrate of the blockchain 's still the competition of the underlying public chain initiatives. It is obviously promoting the development for the entire blockchain sector.

Liberum uses HWD-PoW as the core formula, while ensuring that decentralization of the open chain, it nevertheless effectively prevents 51% attacks. By divorce transactions and clever contracts and creating a fixed block age bracket algorithm, the prohibit production speed, success rate, latency, server cost, and scalability cost of the Liberum main network have got all broken the past technical barriers, really surpassing the same hidden public market available chain.

Facing your impossible triangle, Liberum adopts the unique HWD-PoW innovative consensus mechanism to try to optimize the balance between security and additionally transaction processing acceleration while maintaining a high degree of decentralization.

People selected three realistic Ethereum mainnet conditions for experiments, along with the results were in step with the official claims. When using the HWD-PoW solution will indeed increase the attack cost by a lot more than 100 times.

In addition , one of the reasons for that inefficiency of already present blockchain solutions is actually that all nodes must process the same undertaking multiple times. Your sharding technology can provide more powerful processing potential proportional to the variety of nodes in the system by sharding a nodes. Through sharding technology and revolutionary improvements that distinguish transactions from good contracts, Liberum's leading-edge hierarchical group string system has tremendously improved the overall deal processing speed. Theoretically, TPS can accomplish tens of millions. However , it is fully understood that, because Liberum is still in the beginning of development, so that they can reduce development burden and reduce squander of resources, the core team at present has some limitations. Liberum's transaction finalizing speed is for the short term stable at round 20, 000 TPS. But even so, this approach ultra-high TPS comes with thrown EOS, ETH and BTC miles away.

According to the overall examination, Liberum has an unparalleled high speed inside the overall transaction finalizing speed of the current public chain available on the market, while its distinctive HWD-PoW innovative complete mechanism maintains a healthy degree of decentralization even though successfully attacking your attacker to increase spend. The cost of episodes and 51% attacks has also risen to your level that shouldn't be surpassed by many other public chains. It happens to be no wonder that after the new involving Liberum mainnet definitely will launch soon ended up recently, there are many know-how enthusiasts on the market exactly who highly respect the following underlying public company that broke a "processing speed-security-centralization" impossible 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 [...]