A protocol called PHANTOM is presented as a solution that can confirm a transaction over any network bandwidth. The authors of the new protocol were Yonatan Sompolinsky and Aviv Zohar.
Structurally, PHANTOM differs from the general Bitcoin block structure with more scalable “directed acyclic block graphs” (blockDAG).
PHANTOM differs from off-chain solutions like the Lightning Network because it proposes to achieve scalability in an on-chain way.
At the same time, PHANTOM, unlike the previously created SPECTRE, provides a linear order of blocks. To achieve this, a “greedy algorithm” based on blockDAG is used. This means that blocks do not identify nodes that deviate from the mining protocol.
The article says that this distinction helps ensure order in the blockDAG, so that it is ultimately accepted by all “honest” nodes.
As the authors themselves state, the solution found to the problem of non-linear blockchain order allows PHANTOM to scale any calculations. Including smart contracts.
The only inconvenience that the authors promise to eliminate in future work is that for the sake of linear order, you will have to sacrifice the speed of transaction confirmation previously achieved with SPECTRE.
The creators of SPECTRE announced back in October the start of work on a blockchain-free cryptocurrency.
According to https://anycoin.news
You May Also Like
Gifto switches to using NEM technologies
Blockchain startup Gifto, which offers a consumer token for family, friends, and fans, on Wednesday announced a partnership with blockchain platform operator NEM. According to the agreement, Gifto will be testing the NEM blockchain in the coming months to analyze the scalability of its services. Gifto currently operates on the Ethereum blockchain, but the company is considering alternative options.
Lord of the Blockchain. Who is he?
If you think that the Bitcoin network is at the mercy of miners, you are wrong. If you think that it is at the mercy of developers or users, you are also wrong.
