blockchain Blockchain Technology

[Mariua]

The evolution of Blockchain has opened doors for research and development in this field. Since Satoshi Nakamoto’s introduction of Bitcoin back in 2008 the world of technology changed completely. It gave the world a new advanced technology to explore. Blockchain system has evolved, from solving problems to keeping up with future development, the cycle has not ceased. The reason it has become a huge success lies in the nature of this system, where it is consensus based and works without intervention of any authority. Blockchain records data that is immutable, which is encrypted and given a unique hash. The hash of the previous block is connected to the hash of the new block. To solve the hash and add further data on the blockchain technology a consensus is reached among the nodes that are connected. Consensus protocols still have to face many problems and their latest solutions have also become a problem. POW, POS and DPOS have still failed to provide a solution for Byzantine General problem and double-spending. Blockchain is one of its kind blockchain systems that will use Artificial Intelligence at its core, with dynamic threshold, utilizing all the benefits of POW, POS and DPOS and introducing a whole new system which is much more transparent, decentralized, fast and robust.
 

Libonomy Blockchain Technology System

 

The network of Libonomy Blockchain is explained below, to grasp the working of the system.

• The AI consensus engine will generate data set of the nodes consisting the analysis of their performance, strength in being part of the blockchain and history of any activity in the algorithm.
• After the dataset is received it is then passed on to the prediction algorithm.
• The training of the machine takes place in a learning algorithm which is Neural Network based on the dataset received from the nodes that are connected to the network.
• The Neural Network is being used to make predictions and dynamically classify nodes into their respective pool with dynamic threshold, as defined by the state engine of the blockchain

The first stage of the process involves:
 

1. The network has become a distributed network with high speed communication and data transfer. The transaction per second of this network is highly competitive against other known networks.
2. Pulse based message communication is used for data writing and sharing on distributed ledger. Pulse based message passing is one of the most advanced techniques to transmit and receive messages.
3. Pulse Based message communication will keep the nodes dedicated towards the network.
4. There is a continuous communication taking place of large datasets of the nodes, while still not overloading the network with the requests.
5. Cryptographic hashing is still happening, while still maintaining immutability and perfect blockchain.
6. Multi Node pools are created for transaction verification, blockchain maintenance, and rules creation.
7. The system is avoiding hard forks, while allowing blockchain upgrades.
8. Gossip communication between multiple node pools is taking place for transaction verification and blockchain is upgraded.
9. Network is being upgraded and the blockchain technology keeps on scaling with a consistent architectural structure.

As the signals will pass the gossip protocol will be working to its full potential, then the Virtual Voting will utilize this information to upgrade the pools and data will be shared. Based on the rules accepted and generated by the AI engine and Pools, the State Engine Machine will maintain the system’s state and upgrade it dynamically.

[gds221]

Now it is a very popular technology, and in principle - with the advent of modern technologies, the scope of their application will only increase.

[Vaabum]

I think many already understand that this is the future. And the sooner they understand, the better.