You call your blockchain 4th generation blockchain. I would be interested in your description of a first, second, third and fourth generation blockchain to see what your reasoning was behind calling your distributed ledger the generation. Would be much appreciated if you find the time to talk about that in your own words.
Hello , The pioneer of cryptocurrencies, Bitcoin, together with all its various clones and forks based on Proof of Work algorithm for transaction validation, are considered first-generation block chains.
The second generation, with Ethereum leading the charge of smart-contracts-enabled blockchains, is instead more heterogeneous, allowing easy tokenization of assets.
Both architectures have extremely low energy efficiency and medium-low block validation speed and transactions per block.
Solving the scalability, speed, and energy consumption issues is the goal of third-generation blockchain solutions, using different approaches and techniques like Proof of Stake
validation algorithm, off-chain routing, graph-chains, and complete or partial centralization.
The fourth generation is going far beyond this, achieving faster and more scalable solutions and trying, at the same time, to become competitive from a business perspective;
simple chains of data are not flexible enough to fulfill corporate environment needs, in which complex data structures need to be organized in tables (as in relational databases)
At first glance your explanation looks plausible. However, there will always be trade-offs if you want to achieve higher scalability and faster verification times. If you take the Ethereum blockchain, it is essentially transitioning to what you described as a third generation blockchain at least in part. I doubt you can build a fourth generation blockchain at this point in time with the decentralization, censorship-resistance and security characteristics of a first generation blockchain.
