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March 07, 2018, 01:47:16 PM |
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Dear Community,
Multiversum 4th Generation Relational Blockchain
PUBLIC PRESENTATION
Current Blockchain State of the Art
The lead characters of Blockchain phenomenon share a common feature: remarkable safety and reliability. At the same time, we pay for this in terms of huge processing power, unacceptable pollution, high transaction costs and slowness which can hardly represent current technological progress standards, and give a reasonable technical answer to modern financial and commercial use cases.
This slowness is caused by the lack of horizontal scalability, i.e. the increase of computation capacity obtained by merely adding processors instead of replacing them with faster versions. Another cause of this slowness is inherent to its current blockchain safety mechanism, designed to prevent anyone from taking over the majority of the clusters by making it very expensive to achieve in terms of calculation power and/or cost (Proof of Work and Proof of Stake).
Furthermore, current blockchains are simple concatenations of single data entities state changes; reconstructing the actual states of these entities implies a whole chain scan, which causes an even greater system slowdown and resources usage. This simplification makes blockchains inadequate for scientific and industrial purposes, as requirements in terms of data structures can become extremely complex. Moreover, security measures stop at data level as they dont ensure user safety, making it impossible to recover lost or stolen coins and tokens even if they are located on the chain, or to block malicious accounts.
At last, another issue is fragmentation and in homogeneity among cryptocurrencies, that are unable to communicate with each other and live in unrelated universes.
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