THELOGICALINDIAN - n-a
How generally has the boilerplate cryptocurrency broker heard “blockchain, not bitcoin” constitutional beyond their feeds? Or now, “bitcoin, not blockchain?”
Often cryptocurrency is heavily associated with blockchain, but there are added protocols and platforms in the broader branch of decentralized and broadcast technology.
Some examples of another cryptocurrency basement accommodate Directed Acyclic graphs (DAG), broadcast assortment tables (DHT), and block lattice, amid others.
In this article, we altercate three cryptocurrency projects that do not use blockchain as their amount protocol:Nano, Iota, and Holochain. These projects analyze scalability, abstracts storage, accord amid nodes, and convalescent transaction processes.
Nano
Nano rebranded from its aboriginal namesake RaiBlocks in January of 2018. The payments-focused cryptocurrency offers no fees, near-instant transactions, and acutely aerial scalability. To date, Nano claims its arrangement has processed over 14 actor affairs with an unpruned balance of 7.5 GB.
Behind the cryptocurrency is a DAG block filigree architecture, which provides anniversary annual with its own blockchain (account-chain) that can alone be adapted by the annual owner. Through this model, a accord is accomplished by a balance-weighted vote on adverse transactions. The added weight absorbed to a transaction, the added acceptable it is to accept approval from accord nodes.
As anniversary user maintains their account-chain in the block filigree structure, consensus among all the chains is met by delegated affidavit of pale (dPoS) voting to agree on a aggregate all-around accompaniment of the ledger.
Advantages to the Nano cryptocurrency accommodate quick and fee-less transactions, a failing protocol, and basal accouterments requirements for nodes (as best affairs alone crave nodes to almanac and rebroadcast blocks).
But there are additionally some disadvantages, such as that block confirmations are stored off-chain. With aught fees, some critics affirmation that there are not abundant incentives to run an honest node; with abundant delegates, bad actors can access ample amounts of NANO and backpack a voting advance for banking accretion or arrangement demise.
Nano tokens were pre-mined with a best accumulation of 133,248,290 NANO and broadcast through a captcha-based faucet administration arrangement that concluded in October 2017.
IOTA
IOTA is cryptocurrency advised for the Internet of Things (IoT), with appearance that will be appropriate to authorize a machine-to-machine micropayment system. In theory, the added affairs that action on the IOTA arrangement the added cogent abatement in acceptance times.
Unlike the blockchain, IOTA utilizes a Tangle, which in which anniversary transaction references two antecedent affairs and food them on the DAG. When a new transaction occurs, it charge accept two antecedent affairs on the ledger, so users charge assignment to accept added action on the network.
Consensus is met by afterward the heaviest Tangle, which takes abode as affairs accept added and added approvals. The added approvals a transaction has, the added accustomed it is by the arrangement due to college confidence.
The advantages for IOTA are quick affairs with aught fees, resistance to breakthrough accretion attacks, and aerial scalability.
Its disadvantages accommodate the actuality the Tangle does not currently abutment acute contracts, and it currently has a centralized arrangement coordinator (that programmers plan to appearance out eventually rather than later).
As IOTA was advised for abounding micropayments amid accessories on a network, it has a absolute of 2,779,530,283,277,761 premined tokens, or 2.8 actor GIOTA (Gi).
Holochain
This newcomer is a next-generation broadcast network, advised about broadcast cloud-based IT infrastructure. Holochain aims to attempt with entities like Dropbox, by application nodes to action processing ability to dApps on the account platform.
The activity represents a about-face from a data-centric blockchain archetypal to an agent-centric archetypal that claims to action a scalable band-aid to broadcast accretion platforms. Whereas data-centric models focus on creating a “single aggregate abstracts absoluteness amid all nodes,” Holochain, according to its white paper, aims to acquiesce nodes to “share absolute evolving abstracts realities.”
As against to tracking the absolute balance of all user transactions, Holochain host nodes will alone adviser their own transactions. Host nodes will acquaint their affairs beyond broadcast assortment tables (DHT) where every node “enforces validation rules on that abstracts in the DHT as able-bodied as accouterment ancestry of abstracts from the antecedent chains area it originated.”
Holochain’s advantages accommodate abstracts candor aliment after the charge for consensus, alert and able processing, immediate and able processing, and it doesn’t use affidavit of assignment or affidavit of pale accord models.
The project’s disadvantages are that its accommodation has yet to be put to the analysis with real-world use cases; the Mainnet is not yet live, and developing dApps on the belvedere places added albatross on developers.
Currently, there are 177,619,433,541 ERC-20 Holochain tokens (HOT) that will catechumen to Holofuel back the Mainnet launches. Holofuel will be acclimated to atone bulge hosts for administration their accretion power.
The columnist is currently invested in Bitcoin.
