Topic: Are there any blockchains with these features? (Read 475 times)

Nano is not a blockchain. It uses a different data structure, something between blockchains and DAGs. Essentially, it is completely useless, as its voting system cannot be considered a consensus with proper consistency guarantees.

All this projects based on alternative data structures that claim to be super fast, scalable and free, simply rely on honest and altruistic members. In a rational Byzantine environment, they would have to either use a trusted party to finalize the state, or suffer a tremendous communication overhead. I'd say that all of them are useless shitcoins, except IOTA, as the developers initially positioned it as a solution for the internet of things, but not as a substitution to blockchains. That seems to be a fair claim.

There is, try to search about Nano, It is fast when you send a transaction you will receive it instantly and most importantly it is feeless, there are no transaction fees. Its price is sitting at $1 now I guess the future of this coin is far greater. Yeah, some blockchain does not have all those features but some have the most of it. They have their own specialty like Monero being an untraceable privacy coin.

In 2017, I started a project of the development of a blokchain that can embody the initial ideas of Satoshi and become a true cryptocurrency: a coin that we use as a medium of exchange for everyday payments on the consumer level, instead of an investment/speculative asset (if you are interested about the project, the ann thread is here).

To achieve this goal, we needed a set of properties that none of the existed protocols could provide, which is why we had to design the protocol completely from scratch and apply many novel solutions. All of those solutions were developed by us independently, but I cannot be sure that someone hasn’t implemented something alike before us, as it often occurs that similar ideas come to different minds simultaneously. I studied most of the major known blockchain protocols, but I may have miss some not widely known projects and I cannot be sure that I can claim Dynemix to be the first platform to implement the features stated below. For that reason, I want to ask if someone saw the following features implemented previously:

1)   Blockchain with free transactions
With the help of our novel block proposal algorithm, the system supports free of charge transactions in a rational byzantine environment. I only came across DAG-based systems with free transactions (IOTA), but never a blockchain.

2)   Blockchain without censorship
Dynemix guarantees that all transactions that were properly sent to the system will be added to the next block regardless of the preferences of validators. In all blockchains I saw, the block is assembled at the discretion of the block producer (validator, miner), who is free to reject any transactions. Honey Badger introduced a multi-valued proposal, which improved the situation a bit, but still didn’t allow to reach the stated property.

3)   Sporadic participation in a BFT-style linear consensus
BFT-style protocols rely on the constant availability of participants. If a substantial part of validators goes offline, such protocols lose liveness, which makes minting a pure professional activity, as nodes are required to be run in data centers. At the same time, despite that shortcoming, linear BFT protocols allow to achieve instant finality.

As we wanted to go back to the original ideas of Satoshi and build a system that can be run by common users with home-class hardware, we needed to adopt a model of sporadic participation (nodes can go offline and rejoin at will). This problem is inherently easily solved by Nakamoto-style protocols, but this model engenders a huge flaw: delayed finality. Nakamoto model features the longest chain rule that provides finality after a certain number of blocks are produced and a consistent common prefix is settled.

Known PoS solutions for sporadic participation (Snow White) are based on Nakamoto-style model, which cannot be used to build a cryptocurrency that can compete with conventional fiat payment infrastructure, as fast finality is a crucial feature for that purpose.

For that reason, we had to develop a unique solution that provides for sporadic participation and instant finality simultaneously, which I have never seen in other protocols.

4)   Double layer validation for a secure sharding scheme
Sharding engenders security issues, which I only saw being circumvented by picking a large sample of replicas for a shard committee.

We solve the problem in a different way: by adopting the second line of defense, which consists of authorized fishermen nodes. The fishermen concept is known for an inherent dilemma that impedes its use in a rational byzantine environment, but we managed to circumvent this problem and build a two-layer validation scheme that allows to keep the level of decentralization and scalability achieved by sharding, at the same time keeping security roughly on the level of non-sharded protocols.

5)   Not relevant anymore

6)   Helicopter coins
All known blockchains distribute issued coins among block producers. According to the initial idea of Satoshi, users were supposed to provide security to the system by combining their computational power and receiving rewards for that. This was a highly egalitarian concept, which, however, didn’t succeed. Mining turned into a purely professional activity and instead of egalitarism the platform rose elitism.

PoS protocols feature roughly the same properties except that the distribution is more even in relation to stakeholders of different power. The problem of elites that consume most of the issued coins is still equally relevant – the rich keep getting richer.

Dynemix, being integrated into the Liberdyne messenger, allows to introduce the concept of helicopter coins: only a part of issued coins are consumed by validators, while most of them are dispersed among the majority of Liberdyne users, thus preventing the rich from getting richer and overcoming the concentration of power. This novel issuance model becomes the embodiment of the initial Satoshi’s egalitarian ideas.