What’s the "impossible triangle"?

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What is the "impossible triangle"?

The so-called "impossible triangle" means that within the blockchain public company, it is difficult to quickly attain both good "decentralization" and good "security" of the system. "Transaction Processing Performance. inches The "transaction handling performance" is often sometimes referred to as TPS (Transactions Producing Per Second).

impossible triangle In fact , 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 of the fact that public chain can not do well in the several aspects of "decentralization", "security" and "transaction finalizing performance", but it has never done well with these three aspects at the moment.

Public chain. How is additional public chains?

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

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

BTC uses a consensus mechanism based on Proof of Operate (POW). In the start of BTC progress, an ordinary computer might participate in mining. Nonetheless later, with the skyrocketing currency price, mining became profitable, thus graphics card mining appeared, and later on ASIC mining units with stronger computing power appeared, subsequently unified the waterways and lakes. The mining of standard computers and graphics cards is completely story. At present, the manufacturing and production associated with ASIC mining machines are almost monopolized by Bitmain, plus the computing power of BTC's entire mobile phone network is almost monopolized by several large mining pools. Therefore , your "decentralization" of BTC seems to be inaccurate to many people.

In terms of "transaction processing performance", BTC's TPS is only concerning 7 transactions for 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 get divided over the future development of BTC. This disagreement hasn't been properly settled, in due course leading to a hard shell of BTC cash in 2017.

In terms of safety measures, compared with several other court chains, BTC continues to the best. On the a hand, the precessing power of the entire network is continuously improved with the updating of the ASIC mining machine itself, together with on the other hand, new mining machines are continuously added to continue to enhance the computing power of the entire network. According to estimates, the current cost of attacking BTC is the highest of all POW public chains.

Next, we explain blockchain 2 . 0 Ethereum - ETH. Although ETH is also a consensus infinite triangle process based on proof of work. But it can always use graphics credit card mining, so the position of computing electricity monopoly is not since serious as that of BTC. Additionally , the recent entire overall shift to help POS consensus to solve the problem of research power monopoly, so it's better than BTC with regard to decentralization.

ETH incorporates a slightly higher TPS than BTC, nonetheless because ETH can be a smart contract software, its application circumstances are more complex together with congestion is more likely to occur than BTC. As a result, the capabilities issues that ETH has exploded have received far more attention. Because of this, EOS, which was later very anticipated and troubled, was born.

In terms of protection, ETH is following only to BTC.

Today i want to take a look at EOS which has been so much expected. Any time EOS first became available, TPS was her biggest selling point. The truth is, the EOS in the once-proclaimed million-level TPS has long seeing that changed, because actually the TPS with EOS is only some hundred. But the following does not prevent it from ranking optimum in terms of transaction producing speed of the some major public chains.

However , in order to achieve this TPS, EOS offers made huge sacrifices in the degree of decentralization. Compared to the 10, 000 nodes on the comprehensive network of BTC and ETH, these have only 21 nodes on the entire system. Therefore , it is the the majority questioned of the two major public necklaces in terms of "decentralization".

From a security perspective, because EOS has just 21 nodes inside entire network, it can be relatively easier meant for hackers to penrose triangle meaning harm 21 nodes as opposed to to attack thousands of nodes in BTC or ETH. Therefore , EOS is also the worst of the three in terms of security.

Earlier we analyzed some great benefits of some public chains and their effectiveness in the "impossible triangle", which is basically the current status of public chains. But in regards to the most promising general public chain technology lately, Liberum must be mentioned.

At present, the basic rationale of blockchain know-how is the development intuition of "low-level general public chain → solution → project application". Therefore , even by way of 2020, the main concentrate of the blockchain holds the competition of the underlying public chain jobs. It is obviously selling the development of the entire blockchain marketplace.

Liberum uses HWD-PoW as the core criteria, while ensuring a decentralization of the court chain, it still effectively prevents 51% attacks. By isolating transactions and smart contracts and creating a fixed block age bracket algorithm, the hinder production speed, achievements rate, latency, server cost, and scalability cost of the Liberum main network have all broken way back when technical barriers, really surpassing the same root public market on the market chain.

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

Everyone selected three actual Ethereum mainnet scenarios for experiments, and also the results were per the official claims. Using the HWD-PoW solution may well indeed increase the strike cost by around 100 times.

Additionally , one of the reasons for your inefficiency of old blockchain solutions can be that all nodes have to process the same process multiple times. This sharding technology gives you more powerful processing electricity proportional to the wide variety of nodes in the system by sharding a nodes. Through sharding technology and revolutionary improvements that distinguish transactions from wise contracts, Liberum's leading-edge hierarchical group string system has tremendously improved the overall deal processing speed. Theoretically, TPS can arrive at tens of hundreds of thousands. However , it is known that, because Liberum is still in the early stages of development, for you to reduce development burden and reduce squander of resources, this core team right now has some limits. Liberum's transaction processing speed is temporarily stable at round 20, 000 TPS. But even so, this approach ultra-high TPS offers thrown EOS, ETH and BTC a long way away.

According to the overall analysis, Liberum has an unmatched high speed in the overall transaction producing speed of the up-to-date public chain on the market, while its different HWD-PoW innovative complete mechanism maintains a healthy degree of decentralization even though successfully attacking a attacker to increase spend. The cost of episodes and 51% blasts has also risen to somewhat of a level that may not be surpassed by various public chains. It can be no wonder this after the new of Liberum mainnet can launch soon became available recently, there are many technological know-how enthusiasts on the market whom highly respect this particular 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 [...]