Introducing Indigo: an Ethereum Proof of Authority blockchain
We recommend reading our previous blog post Solidity based Smart Contracts Blockchains in Fulcrum ecosystem for an overview first — here.
This blog post details Indigo an Ethereum Proof of Authority blockchain. We open sourced the code on Github here.
Indigo is a fork of the amazing word done by the people at GoChain. We are working on the codebase to enable various new features and achieve better integration with the Fulcrum ecosystem.
Indigo is a result of our effort to enrich our ecosystem of blockchain services and provide flexibility for enterprise companies interested in Ethereum based performance and privacy focused blockchains.
Proof-of-Work is a Sybil-resistance mechanism that leverages computation costs to self-regulate the network and allow fair participation. This works great in anonymous, open networks where competition for cryptocurrency promotes security on the network. However, in private/consortium networks the underlying ether has no value. An alternative protocol, Proof-of-Authority, is more suitable for permissioned networks where all consensus participants are known and reputable. Without the need for mining, Proof-of-Authority is more efficient while still retaining Byzantine fault tolerance.
Indigo, a standalone blockchain, is a next generation smart contract platform. It’s built upon an improved Ethereum codebase that solves the scaling problem with immediacy. Current benchmarks are showing in excess of 1300 transactions per second ongoing with stability and has been running as high as 2400 transactions per second.
Indigo uses a Proof of Authority (PoA) consensus model that depends on the reputation of its participants to keep the network secure.
It is built on the Ethereum’s network because it is much more than just a store of value. That is why we believe it’s the best cryptocurrency and blockchain on the market today and why we are using it as a starting point. All Ethereum wallets and development tools will be compatible with Indigo.