Technical overview of ULTRAIN
For a technology that has been touted as the missing component of the ‘Fourth Industrial Revolution’ by idealists and futurists alike, blockchain lags behind the hype. Recent developments such as the evolution of blockchain platforms to permissioned blockchains, and the politicization of the space has soiled the reputation of blockchain’s evolution. I cannot predict what will happen in the near future but I can say it is encouraging to see projects that remain true to the original Bitcoin vision of an equitable, humanitarian future. Ultrain is one of these projects, with its all-inclusive cloud ecosystem featuring blockchain, machine learning and IoT for use by developers.
The blockchain space has matured currently, and right now we are beginning to see more industrial grade blockchain projects emerge. Unlike most of these projects, Ultrain stands out both in its technical performance and blockchain ideals of decentralization and security.
Ultrain consensus model is comprised of POS, VRF(Verifiable Random Function) and BFT Consensus
VRF uses hardware footprints to select the next proposes and voters. This happens privately unlike other similar blockchains(Dfinity, Algorand) with the same functionality for a number of reasons:
📌Public selection can be vulnerable from node collusion.
📌Public selection has a relatively higher delay due to threshold node numbers required to determine the next random number
To realize parallel processing of transactions, Ultrain uses sharding technology. In sharding technology, the whole network is divided into subgroups(shards) which are responsible for the transaction confirmation within their shards, and automatically accept the transactions from other shards, packing it into blocks. Each shard processes different transactions and nodes are randomly assigned to shards.
Smart contract framework
Robin, Ultrain’s smart contract framework is robust due its coding flexibility, no limit on lines of code and developer-friendly environment.
Ultrain uses the ED25519 signature algorithm, developed by Daniel Bernstein which is widely considered to be an improvement over Bitcoin and Ethereum’s signature schemes.
Ultrain’s architecture has no central nodes, and a large number of nodes on the network. There is a low barrier to entry of even devices like smartphones, making the network more robust.
Important to note that even though Ultrain has a large network of devices, and uses the POS model, a multilayered consensus model makes it easier to have quicker transaction times while still maintaining security.
In testnet conditions, with 1000 nodes, a transaction confirmation time of 10 seconds with transaction speed of 3000 TPS.
The ultimate goal is a confirmation time of 1s.
For more information on Ultrain, follow the following important links: