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Offline fluxer555

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RaiBlocks - New Consensus Algo Using Multiple Blockchains
« on: January 19, 2015, 12:09:56 AM »

Stumbled on this:

http://raiblocks.net/
https://github.com/clemahieu/raiblocks/
https://github.com/clemahieu/raiblocks/wiki

Apparently, this team has come up with a new consensus algorithm which does not use mining, nor does it use any kind of PoS. Each 'account' has it's own blockchain, and each account's blockchain interacts with each other to create a 'block lattice'. They apparently boast double-spend protection, and fast confirmations, and a myriad of other benefits. I'd be interested in some of the bigger brains here critiquing their methods.

Offline emski

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Re: RaiBlocks - New Consensus Algo Using Multiple Blockchains
« Reply #1 on: January 19, 2015, 12:46:48 AM »
Quite intriguing.
If it is working as described it looks to be an improvement to "normal" blockchain structure.
Fork resolution still depends on something similar to delegates (PoS voting) but forks could only be crafted by malicious parties.
I believe their blockchain structure has its advantages. I wonder how mature that project is. Needs more research.

Offline clemahieu

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Re: RaiBlocks - New Consensus Algo Using Multiple Blockchains
« Reply #2 on: January 20, 2015, 04:30:18 PM »
Thanks for taking a look guys.  Even though our development is open source we've kept low-key about our progress.  We wanted to present people with a working prototype rather than just ideas on paper.  We feel now is the time to get rigorous peer review.

I noticed people had questions about how the structure worked so I created some animations on the wiki pages that demonstrate how transactions occur and forks are resolved.

https://github.com/clemahieu/raiblocks/wiki/Block-lattice
https://github.com/clemahieu/raiblocks/wiki/Double-spending-and-confirmation

If your community has any other questions I'd be happy to answer a list of them.
RaiBlocks - Instant confirmation, no fees. https://raiblocks.net/

Offline bytemaster

Re: RaiBlocks - New Consensus Algo Using Multiple Blockchains
« Reply #3 on: January 20, 2015, 05:00:43 PM »
This system looks very nice for a currency, but not so sure about how it would function with an order book. 

I suppose the order book could be its own blockchain that accepts transfers in and makes transfers out. 

Good ideas.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline fuzzy

Re: RaiBlocks - New Consensus Algo Using Multiple Blockchains
« Reply #4 on: January 20, 2015, 07:58:16 PM »
Have you considered sharedropping on the BitShares community?  If you did we could potentially set up some Hangouts for the Developers to form a closer relationship with the DAC Savvy investors. 
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline santaclause102

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Re: RaiBlocks - New Consensus Algo Using Multiple Blockchains
« Reply #5 on: January 20, 2015, 11:38:08 PM »
Quote
Balances are transferred between block chains through send and receive blocks. Send blocks reduce the balance of an account and marks the delta as receivable by an account number. At a later time the receiving account creates a receive block which increases the balance of their account by the delta.
https://github.com/clemahieu/raiblocks/wiki/Block-lattice

This seems to be a crucial part.

I don't fully comprehend it yet. Maybe someone wiser can put it in simpler words?

Offline chono

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Re: RaiBlocks - New Consensus Algo Using Multiple Blockchains
« Reply #6 on: January 21, 2015, 12:34:46 PM »
wow! This can save lots of memory space than dpos?every account has their own blockchain,just has own data.and speed will much faster than dpos?
Weibo:Will_BTS

Offline bytemaster

Re: RaiBlocks - New Consensus Algo Using Multiple Blockchains
« Reply #7 on: January 21, 2015, 01:12:02 PM »
You still have to follow everything back to genesis.  This allows parallel updates, but all updates must still be broadcast.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline chono

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Re: RaiBlocks - New Consensus Algo Using Multiple Blockchains
« Reply #8 on: January 21, 2015, 01:49:11 PM »
You still have to follow everything back to genesis.  This allows parallel updates, but all updates must still be broadcast.
understood,thanks bm.
Weibo:Will_BTS

 

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