Project to watch: https://chainspace.io/Chainspace delivers on modern expectations of processing power, making it the platform of choice for complex real-world applications
Key FeaturesFast, leaderless consensusOur new leaderless consensus algorithm, Blockmania is based on a DAG structure and is extremely fast, currently 350k-500k TPS on 16 nodes in a single shard distributed across the internet. It does consensus and transaction ordering within a single shard.
Sharding executionOur Sharded Byzantine Atomic Commit (SBAC) protocol allows us to run multiple chains at once. Incoming transactions can affect objects in more than one shard, allowing us to get horizontal scalability. Cross-shard commits are atomic.
Sharding verificationBlockmania consensus functions as long as more than ⅔ nodes are honest. We can horizontally scale verification nodes, just as we can scale execution nodes. Verification nodes use fraud proofs to detect and communicate about shards that have gone rogue.
Proof of stakeWe use two-way stake wagers between entities, to build a social network of stake-weighted trust relationships. We use social network theory math to figure out whether an entity is a sybil based on the amount that it's connected to the main network.
Privacy applications and zero knowledge proofsHow do you allow people to prove that they are able to vote in a petition, tally votes, and not allow anyone to vote more than once, without the user's actual identity to ever being recorded? Coconut, our threshold credential disclosure library, makes applications like this possible.
Directory and governanceIn order for the system to function, we need to have a DNS-like system mapping objects to nodes, nodes to shards, and contracts to nodes, shards & objects. We plan to implement this as a Chainspace smart contract itself.
Smart contracts in any languageBlockchain developers can use any language with a WASM output target, such as Solidity, Vyper, Hera, Rust, C++, and Go - and will get strong determinism guarantees. Alternately, as with Tendermint, developers who want to use traditional languages and commit to avoiding nondeterministic function calls, are free to do so.
TEAM:Dave Hrycyszyn (Co-Founder)In a 20 year career, Dave has successfully delivered hundreds of software systems. From startups to the world's largest organizations, he's scaled systems to tens of millions of users. He also wrote the book on the open source Scalatra HTTP framework, used by the BBC, NetFlix and McLaren. Alongside Ramsey, he built and sold a 60-person software consultancy. At Chainspace, he works across business, code and research activities.
George Danezis (Co-Founder)George is the former head of the Information Security Research Group at UCL. He co-designed and prototyped RsCoin, an experimental scalable cryptocurrency, and has a list of publications longer than a Leonard Cohen song. He did his doctorate at Cambridge under Ross Anderson, followed by a stint at Microsoft Research. George is also a Fellow at the Alan Turing Institute.
Mustafa Al-Bassam (Co-Founder)Mustafa is a researcher in computer security, scalable blockchain technologies and their applications. He made the Forbes 30 Under 30 in Techlist for 2016. He is currently a doctoral researcher in computer security at UCL.
Andre Cronje’s Chainspace Code Review Conclusion:“I’m going to keep going through this, but it’s amazing. Probably the best I have seen yet. It’s elegant, it’s simplistic, and it has had a lot of hard work that has gone into it. “
Full cryptobriefing review here:
https://cryptobriefing.com/chainspace-code-review-sharded-smart-contracts/Chainspace Telegram channel: https://t.me/chainspace_official (not yet linked on their website though it looks like the official one opened recently, exercise caution and don’t fall for scams)