What exactly the "impossible triangle"?

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What is the "impossible triangle"?

The so-called "impossible triangle" means that inside blockchain public company, it is difficult to create both good "decentralization" and good "security" of the system. "Transaction Processing Performance. inches The "transaction digesting performance" is often termed as TPS (Transactions Handling Per Second).

the impossible triangle Actually , the "impossible triangle" is not a difficult conclusion. It is just a outline of the actual using status of each open public chain in the industry. In other words, it is not necessarily that this public chain is unable to do well in the a few aspects of "decentralization", "security" and "transaction processing performance", but it hasn't done well inside these three areas at the moment.

Public company. How is many other public chains?

At the present time, the most famous public chain projects tend to be BTC, ETH, in addition to EOS.

First of all, today i want to study the Bitcoin - BTC.

BTC uses a consensus process based on Proof of Get the job done (POW). In the birth of BTC advancement, an ordinary computer could participate in mining. Nonetheless later, with the skyrocketing currency price, mining became profitable, thus graphics card mining appeared, and after ASIC mining devices with stronger precessing power appeared, and in the end unified the rivers and lakes. Your mining of usual computers and layouts cards is completely historical past. At present, the producing and production of ASIC mining models are almost monopolized by Bitmain, and the computing power involving BTC's entire system is almost monopolized just by several large exploration pools. Therefore , a "decentralization" of BTC seems to be inaccurate to a lot people.

In terms of "transaction processing performance", BTC's TPS is only around 7 transactions per second, which is altogether unsuitable for day by day high-frequency and small-value transfers. It is this low transaction effectiveness that has caused this BTC community to become divided over the long term development of BTC. This disagreement was not properly settled, subsequently leading to a hard division of BTC benefit 2017.

In terms of reliability, compared with several other public chains, BTC is still the best. On the an individual hand, the scheming power of the over-all network is regularly improved with the improvement of the ASIC exploration machine itself, and additionally on the other hand, new mining machines are constantly added to continue to improve the computing power in the entire network. Consistent with estimates, the current charge of attacking BTC is the highest of all POW public chains.

Next, we explain blockchain 2 . 0 Ethereum - ETH. Although ETH is furthermore a consensus impossible triangle instrument based on proof of get the job done. But it can nonetheless use graphics business card mining, so the condition of computing power monopoly is not like serious as this of BTC. In addition , the recent all around overall shift so that you can POS consensus to resolve the problem of computing power monopoly, it is therefore better than BTC concerning decentralization.

ETH has a slightly higher TPS than BTC, nonetheless because ETH can be a smart contract software, its application circumstances are more complex and congestion is more prone to occur than BTC. As a result, the effectiveness issues that ETH has got exploded have received even more attention. Because of this, EOS, which was later extremely anticipated and worried, was born.

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

Today i want to take a look at EOS which has been so much expected. As soon as EOS first arrived on the scene, TPS was its biggest selling point. The fact remains, the EOS within the once-proclaimed million-level TPS has long considering changed, because actually , the TPS associated with EOS is only a couple hundred. But the following does not prevent that from ranking top in terms of transaction processing speed of the a few major public restaurants.

However , in order to achieve this TPS, EOS offers made huge forfeit in the degree of decentralization. Compared to the 10, 000 nodes on the general 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 several major public organizations in terms of "decentralization".

By a security perspective, due to the fact EOS has simply 21 nodes within the entire network, it happens to be relatively easier to get hackers to imposible triangle harm 21 nodes as opposed to to attack several thousand nodes in BTC or ETH. Consequently , EOS is also this worst of the a few in terms of security.

Sooner we analyzed some great benefits of some public chains and their results in the "impossible triangle", which is basically the active status of court chains. But concerning the most promising public chain technology nowadays, Liberum must be talked about.

At present, the basic process of blockchain technology is the development reason of "low-level court chain → solution → project application". Therefore , even simply by 2020, the main center of the blockchain is the competition of the root public chain projects. It is obviously advertising the development in the entire blockchain marketplace.

Liberum uses HWD-PoW as the core criteria, while ensuring your decentralization of the general public chain, it nonetheless effectively prevents 51% attacks. By breaking up transactions and wise contracts and designing a fixed block age group algorithm, the hinder 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 base public market available to buy 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 healthy degree of decentralization.

We selected three substantial Ethereum mainnet eventualities for experiments, as well as the results were consistent with the official claims. With the HWD-PoW solution are able to indeed increase the infiltration cost by around 100 times.

Additionally , one of the reasons for your inefficiency of prevailing blockchain solutions can be that all nodes have to process the same mission multiple times. A sharding technology gives more powerful processing power proportional to the number of nodes in the network by sharding the nodes. Through sharding technology and revolutionary improvements that distinguish transactions from good contracts, Liberum's leading-edge hierarchical group string system has considerably improved the overall business deal processing speed. In theory, TPS can get through to tens of many. However , it is grasped that, because Liberum is still in the first stages of development, in order to reduce development difficulty and reduce fritter away of resources, that core team currently has some constraints. 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 within the overall transaction processing speed of the active public chain available, while its specific HWD-PoW innovative total 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 shouldn't be surpassed by many other public chains. It happens to be no wonder that after the new with Liberum mainnet could launch soon came out recently, there are many solutions enthusiasts on the market whom highly respect this underlying public stringed that broke this "processing speed-security-centralization" not possible 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 [...]