What is the "impossible triangle"?

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What’s the "impossible triangle"?

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

impossible triangle Actually the "impossible triangle" is not a rigorous conclusion. It is just a summary of the actual operating status of each public chain in the industry. That is to say, it is not necessarily that your public chain simply cannot do well in the some aspects of "decentralization", "security" and "transaction producing performance", but it have not done well within these three factors at the moment.

Public chain. How is additional public chains?

Nowadays, the most famous open public chain projects are generally BTC, ETH, together with EOS.

First of all, let's study the Bitcoin - BTC.

BTC uses a consensus tool based on Proof of Job (POW). In the early days of BTC enhancement, an ordinary computer may participate in mining. But later, with the skyrocketing currency price, exploration became profitable, which means that graphics card exploration appeared, and later ASIC mining models with stronger computer power appeared, and eventually unified the waterways and lakes. The mining of normal computers and graphics cards is completely heritage. At present, the manufacturing and production involving ASIC mining equipments are almost monopolized by Bitmain, and also the computing power from BTC's entire multi-level is almost monopolized simply by several large exploration pools. Therefore , the "decentralization" of BTC seems to be inaccurate a lot of people.

In terms of "transaction processing performance", BTC's TPS is only on the subject of 7 transactions for each second, which is absolutely unsuitable for day to day high-frequency and small-value transfers. It is the following low transaction capabilities that has caused a BTC community to be divided over the upcoming development of BTC. This disagreement isn't properly settled, eventually leading to a hard hand of BTC money in 2017.

In terms of stability, compared with several other open chains, BTC is the best. On the one hand, the computing power of the comprehensive network is constantly improved with the updating your of the ASIC mining machine itself, and additionally on the other hand, new mining machines are constantly 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 necklaces.

Next, we clarify blockchain 2 . 0 Ethereum - ETH. Although ETH is additionally a consensus imposible triangle tool based on proof of job. But it can nevertheless use graphics card account mining, so the situation of computing potential monopoly is not when serious as that will of BTC. Additionally , the recent entire overall shift to help POS consensus to unravel the problem of research power monopoly, making it better than BTC in terms of decentralization.

ETH provides a slightly higher TPS than BTC, nevertheless because ETH is often a smart contract principle, its application scenarios are more complex in addition to congestion is apt to occur than BTC. As a result, the results issues that ETH comes with exploded have received far more attention. Because of this, EOS, which was later really anticipated and nervous, was born.

In terms of protection, 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 for the once-proclaimed million-level TPS has long since changed, because in fact , the TPS involving EOS is only a couple hundred. But this does not prevent the idea from ranking maximum in terms of transaction producing speed of the some major public chains.

However , in order to achieve a really TPS, EOS provides made huge eschew in the degree of decentralization. Compared to the 10, 000 nodes on the whole network of BTC and ETH, it offers only 21 nodes on the entire network. Therefore , it is the most questioned of the three major public restaurants in terms of "decentralization".

With a security perspective, considering EOS has just 21 nodes with the entire network, it's relatively easier meant for hackers to the impossible triangle strike 21 nodes when compared to to attack tens of thousands of nodes in BTC or ETH. Therefore , EOS is also the worst of the some in terms of security.

Early we analyzed the benefits of some public organizations and their functioning in the "impossible triangle", which is basically the up-to-date status of open chains. But on the subject of the most promising court chain technology lately, Liberum must be mentioned.

At present, the basic standard of blockchain solutions is the development logic of "low-level open public chain → answer → project application". Therefore , even by 2020, the main concentrate of the blockchain holds the competition of the base public chain assignments. It is obviously supporting the development with the entire blockchain market.

Liberum uses HWD-PoW as the core formula, while ensuring that decentralization of the open chain, it nevertheless effectively prevents 51% attacks. By isolating transactions and smart contracts and creating a fixed block generation algorithm, the filter production speed, results rate, latency, server cost, and scalability cost of the Liberum main network get all broken the last technical barriers, vastly surpassing the same fundamental public market that you can buy chain.

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

Everyone selected three substantial Ethereum mainnet conditions for experiments, and the results were in keeping with the official claims. While using 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 old blockchain solutions is normally that all nodes must process the same undertaking multiple times. Your sharding technology can provide more powerful processing potential proportional to the wide variety of nodes in the mobile phone network by sharding your nodes. Through sharding technology and innovative improvements that split transactions from shrewd contracts, Liberum's sophisticated hierarchical group stringed system has greatly improved the overall exchange processing speed. Theoretically, TPS can arrive at tens of scores. However , it is understood that, because Liberum is still in the beginning of development, so that they can reduce development demand and reduce waste of resources, your core team right now has some restrictions. Liberum's transaction handling speed is for the moment stable at available 20, 000 TPS. But even so, this particular ultra-high TPS provides thrown EOS, ETH and BTC far away.

According to the overall exploration, Liberum has an unparalleled high speed within the overall transaction digesting speed of the active public chain available, while its specific HWD-PoW innovative complete mechanism maintains a healthy degree of decentralization even though successfully attacking your attacker to double spend. The cost of disorders and 51% blasts has also risen to your level that cannot 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 technological know-how enthusiasts on the market whom highly respect this particular underlying public chain that broke that "processing speed-security-centralization" extremely hard 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 [...]