January 19, 2018 . 1 min read
Great explainer Jackson. A few thoughts:— Chris McCoy (@chrisamccoy) January 18, 2018
1/ IOTA is an example of claiming to use a really good technology (DAG) but then introduce a "coordinator" node so all transactions must pass through it making it *fully* centralized.
2/ They claim they will remove the "coordinator" node later this year but it is *probably* not going to happe if the system is not built that way from scratch. We'll see.— Chris McCoy (@chrisamccoy) January 18, 2018
3/ In Byteball, similarly, 12 entities validate the transactions and they don't change and it is the same set ;)— Chris McCoy (@chrisamccoy) January 18, 2018
DAG is more complex to manage because it is a graph structure of unlimited depth and breadth, but it does allow for parallel block creation etc.
4/ At the moment, anything that people-of-crypto, are not familiar with, especially with respect to how the blockchain is formed, it's viewed with suspicion.— Chris McCoy (@chrisamccoy) January 18, 2018
At @StorecoinTeam, we are keeping the blockchain structure intact while still allowing for multiple block creation.
5/ DAG is like a tree structure with the constraint that it is unidirectional (top to bottom) and the branch cannot fold to parent (hence Acyclic.) Because it is tree, each vertex (node) can be a "block" and hence it allows creation of multiple blocks.— Chris McCoy (@chrisamccoy) January 18, 2018
6/ Our public blockchain design at @StorecoinTeam uses a traditional structure where the chain is exactly that -- one block having a link to the previous, so they are connected and you can traverse the chain all the way to genesis block.— Chris McCoy (@chrisamccoy) January 18, 2018
So, we are nothing like DAG.
7/ Our design allows for the creation of multiple blocks by using pipelining. This is the classical 'Henry Ford" model that Rag (CTO) and I have been building distributed software with since 2012.— Chris McCoy (@chrisamccoy) January 18, 2018
8/ How It Works: While new, unfinished, unfinalized blocks are being built, the subsequent steps in the pipeline "harden" the chain by validating the transactions, pre-voting, pre-commiting, and dSecurity nodes "sealing" the blocks.— Chris McCoy (@chrisamccoy) January 18, 2018
9/ This parallel processing allows for increased throughput.— Chris McCoy (@chrisamccoy) January 18, 2018
We are not reinventing the wheel like DAG but we are designing differently to improve throughput.
There's a reason v2 public blockchains have major scaling challenges today.
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