What exactly is the "impossible triangle"?

What exactly the "impossible triangle"?

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

impossible triangle In fact , the "impossible triangle" is not a rigorous conclusion. It is just a overview of the actual doing work status of each general public chain in the industry. That is to say, it is not necessarily that the public chain simply cannot do well in the some aspects of "decentralization", "security" and "transaction producing performance", but it has never done well within these three factors at the moment.

Public chain. How is additional public chains?

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

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

BTC uses a consensus instrument based on Proof of Operate (POW). In the conception of BTC development, an ordinary computer may possibly participate in mining. Although later, with the skyrocketing currency price, exploration became profitable, consequently graphics card exploration appeared, and afterwards ASIC mining machines with stronger research power appeared, consequently unified the waters and lakes. This mining of ordinary computers and sharp graphics cards is completely history. At present, the producing and production of ASIC mining units are almost monopolized by Bitmain, and the computing power involving BTC's entire system is almost monopolized just by several large exploration pools. Therefore , a "decentralization" of BTC seems to be inaccurate to a lot people.

In terms of "transaction processing performance", BTC's TPS is only around 7 transactions per second, which is entirely unsuitable for day by day high-frequency and small-value transfers. It is this low transaction functioning that has caused your BTC community to get divided over the future 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 public chains, BTC is the best. On the one hand, the computer power of the comprehensive network is regularly 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 in the entire network. Consistent with estimates, the current cost of attacking BTC is the highest of all POW public chains.

Next, we clarify blockchain 2 . 0 Ethereum - ETH. Although ETH is furthermore a consensus impossible triangle instrument based on proof of get the job done. But it can nonetheless use graphics business card mining, so the condition of computing power monopoly is not like serious as this of BTC. In addition , the recent all around overall shift so that you can POS consensus to resolve the problem of computing power monopoly, it is therefore better than BTC concerning decentralization.

ETH has a slightly higher TPS than BTC, nonetheless because ETH is mostly a smart contract platform, its application eventualities are more complex together with congestion is almost certainly going to occur than BTC. As a result, the functioning issues that ETH has exploded have received much more attention. Because of this, EOS, which was later highly anticipated and uneasy, was born.

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

We should take a look at EOS which has been so much expected. As soon as EOS first became available, TPS was it's biggest selling point. The fact remains, the EOS within the once-proclaimed million-level TPS has long considering changed, because actually , the TPS associated with EOS is only a few hundred. But the following does not prevent the application from ranking highest possible in terms of transaction processing speed of the a few major public organizations.

However , in order to achieve a very TPS, EOS has made huge sacrifices in the degree of decentralization. Compared to the 10, 000 nodes on the comprehensive network of BTC and ETH, it's only 21 nodes on the entire mobile phone network. Therefore , it is the a large number of questioned of the some major public chains in terms of "decentralization".

From a security perspective, since EOS has just 21 nodes inside entire network, it can be relatively easier with regard to hackers to the impossible triangle infiltration 21 nodes compared to to attack countless nodes in BTC or ETH. Consequently , EOS is also that worst of the a few in terms of security.

Earlier we analyzed the advantages of some public necklaces and their results in the "impossible triangle", which is basically the active status of court chains. But in regards to the most promising public chain technology nowadays, Liberum must be talked about.

At present, the basic process of blockchain solutions is the development judgement of "low-level open chain → choice → project application". Therefore , even by way of 2020, the main center of the blockchain is the competition of the root public chain plans. It is obviously marketing the development for the entire blockchain business.

Liberum uses HWD-PoW as the core criteria, while ensuring the decentralization of the public chain, it still effectively prevents 51% attacks. By divorce transactions and good contracts and constructing a fixed block generation algorithm, the filter production speed, success rate, latency, server cost, and scalability cost of the Liberum main network have got all broken the past technical barriers, considerably surpassing the same base public market available to buy chain.

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

Most people selected three actual Ethereum mainnet examples for experiments, plus the results were per the official claims. With the HWD-PoW solution are able to indeed increase the infiltration cost by greater than 100 times.

Additionally , one of the reasons for a inefficiency of existing blockchain solutions is actually that all nodes must process the same undertaking multiple times. A sharding technology provides more powerful processing electrical power proportional to the availablility of nodes in the mobile phone network by sharding a nodes. Through sharding technology and groundbreaking improvements that separate transactions from smart contracts, Liberum's sophisticated hierarchical group chain system has greatly improved the overall transaction processing speed. The theory is that, TPS can get to tens of a huge number. However , it is appreciated that, because Liberum is still in the first stages of development, in order to reduce development difficulty and reduce fritter away of resources, this core team now has some restrictions. Liberum's transaction handling speed is momentarily stable at available 20, 000 TPS. But even so, this particular ultra-high TPS offers thrown EOS, ETH and BTC distant.

According to the overall study, Liberum has an unmatched high speed in the overall transaction producing speed of the up-to-date public chain that you can buy, while its distinctive HWD-PoW innovative consensus mechanism maintains an increased degree of decentralization while successfully attacking this attacker to twice spend. The cost of blasts and 51% episodes has also risen to a level that can not be surpassed by additional 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 that 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 [...]