The WAB Consensus Preference and How it Works

The blockchain provides a revolutionary approach to solving a lot of real-world challenges. The impact of blockchain technologies around the globe is giving rise to more innovations and technologies that hold a promise for mankind.

There is a need to situate WAB alongside the revolutionary features it offers, and examine them with a corollary to the strides of the Bitcoin and Ethereum blockchains. Where the two blockchains have faltered, WAB is stepping in with remarkable solutions. On consensus mechanisms, Bitcoin blockchain is synonymous with the Proof-of-Work algorithm, while Ethereum blockchain works with the Proof-of-Stake mode.

Followers of the blockchain world can allude to an understanding of the workings of the Proof-of-Work and the Proof-of-Stake algorithms. These two consensus models have a heightened popularity around the globe as a result of their pioneer run as first and second generation blockchain algorithms.

While WAB synthesizes the strong points of the blockchain generations right to the fourth, it also takes on the strengths of emergent innovations that are clearly cutting-edge. To examine what constitutes a consensus on the blockchain, it is most definitive to identify why there is a need for this.

Cryptocurrencies are the biggest known beneficiary of the blockchain to date, but, other users have a need for the blockchain too. As an example, when users of the Bitcoin blockchain have payment transactions to process, they do not have a clearing house to submit such or lodge the underlying details. However, this is not limited to the Bitcoin blockchain alone as other blockchains follow the same mechanism.

So, what happens next is that miners on the network have to reach a consensus after expending huge energy to confirm transactions. The very nature of POW means that repetition, data hauling, and computational usage is embedded.

This forms the criticism against the POW algorithm. However, one strong point that remains undisputed is that transactions cannot be falsified where the POW is used. This is an area that WAB has given some consideration.

On a typical POW algorithm, this is how the consensus process arises:

  • A node receives a transaction from a user of the blockchain
  • The details of such a transaction are then broadcast by the node to the network
  • A block of transactions is made by each node as new entries come into the network
  • The block has to be matched by a proof of work, so each node goes on to find the difficulty
  • As the POW emerges, the node that finds such broadcasts it on the network
  • Nodes have to subject the POW to tests to confirm the validity
  • As the POW is accepted, nodes begin working on the next block with the accepted block bequeathing a hash that must reflect on the new block
  • The longest chain on the network is accepted by nodes as the valid one, and this is how the blockchain survives or gets extended.

WAB looks at the definitive areas of POW shown above and accepts that it is resistant to Sybil attacks. POW is also suitable for use in reaching consensus on selected transactions by WAB. However, WAB sees a need to use a hybrid of the consensus models, and this is where the dPOS mode comes to the scene.

The (POS) Proof-of-Stake mode has drawn criticisms from drivers of blockchain efficiency and this is how the dPOS came into existence. However, it is noteworthy to identify that the POS mode is peer-driven, and the constituent peers have stakes in the blockchain.

The shortcoming of POS is in the prioritization of stake ownership over the real tenets of decentralization. This is how the dPOS emerged as a better option to POS, and the underlying idea works in tandem all the same.

No mining arises on POS systems as the voting mechanism replaces the difficulty resolution of POW. As it is, anyone who has no stake cannot breach the voting mechanism. So, the unique accounts on the network vote, and contribute blocks to propagate the long chain. When a block is created, the reward goes to the participants in the voting; with stake proportion determining what each participant gets as a reward.

So, what a dispassionate observer will ask is- how then is WAB able to make this bybrid approach work?

WAB consensus model is based on the delegated proof of stake mode, and this means that in place of miners on POW, we have a committee designated (elected witnesses) for that purpose. The committee will be raised from within the network, and they will attend to transactions as they arise.

WAB blockchain makes sure that every transaction is processed by multigraph sharding. This works in tandem with the network working as a layer of shards, and processes transactions in the same vein. In doing so, all the shards are taken into consideration in the consensus protocol.

While voting will be done by the Directory Service committee, the prevailing protocol ensures that all the shards have an input as blocks get proposed with the broadcast of each new transaction.

To reach a consensus then, the nodes that will vote will be the specified and elected members. In this way, the entire network cannot be held down because a new block is undergoing creation or verification.

The fault tolerance mode for WAB is based on the BFT-idea so that the level of optimizations is at their peak. As the resultant blocks are propagated, the confirmation times are not delayed but reduced. This is as a result of the multigraph sharding that is dynamically programmed to become exponential as level of transactions increase.

While it is true that BFT protocols have been pilloried for failure to scale over large nodes, as the bandwidth required is huge, and convergence is delayed, WAB settles for something innovative. COSi has been identified as signature scheme with proven scalability efficiency. COSi has been optimized for WAB, and in design and function, it will be at its best to beat large node difficulties.

In a merged or hybrid mechanism for consensus adopted by WAB, large transactions that will be so defined will be subject to POW consensus, while other smaller transactions will be subjected to dPOS consensus. The processes and underlying flow chart for such alternate algorithm for transactions might appear like a bone to crack, but our team of developers is subjecting the mechanisms to reality and realization.

As we are committed to our community of active users, we will make remain open to feedbacks and recommendations to make our vision of a fifth generation blockchain achievable.

In an ecosystem where quantum computing intrusion is foiled, there is no doubt that WAB will excel in security, efficiency, and speed of processing. These three highlights mark out WAB as a fifth generation blockchain that leverages the strength of the first to fourth generations of blockchains for its peak results and functionality.

The WAB blockchain is optimized to beat quantum computing threats, run on dynamic multigraph sharding, and ensure a peak of 100 million transactions per second.

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