Beating Network Overload: The WAB Solution
One of the recurring criticisms hurled at blockchains till the emergence of WAB is the congestion of the network. As laudable as the decentralized nature of the blockchain is, the biggest challenge seem to be how to handle network congestion.
The introduction of the bitcoin blockchain was met with applause. Years down the line, a commercial adoption still looks far-fetched as the transaction pace remains sluggish.
The Ethereum blockchain with all its promises is often left to crawl whenever an ICO is at its peak. In the real-world, network glitches can be costly and no business owner will take a chance at an unproven technology. Business values time and efficiency, and like they say out there-” time is money”.
WAB Provides an Answer
The WAB platform is fundamentally structured differently from the Ethereum network, which runs on a proof of Stake mode. The POS mode prioritizes access to the network for anyone who can provide the credentials that shows a higher network share. In a sense, this works against the very basis of decentralization.
If holders of bigger stakes are able to access the network compared to smaller players, it evidentially works against a commercial algorithm. If you own a business, and customers cannot access your portal for any reason, you will lose patronage.
In a sense, what slows down the Ethereum network is two-fold:
- A disproportionate network sharing methodology
- A slow pace of transaction processing
How WAB Network Sharing Works
On WAB, access to the network is based on the preferred Larimer’s decentralized proof of stake methodology. The DPOS does not work like the Proof of Work used by Bitcoin Blockchain or the Proof of Stake of the Ethereum Blockchain.
To add a block to the POW networks, a computational difficulty has to be solved, and for POS, evidence of the stake needs to be produced for miners to work on the new block. On DPOS, witnesses are voted for and they in turn will verify every new request for a block.
So, elected witnesses are on hand to verify transactions on the network, and approve each new block. Since they are paid for the work they do, the incentive to continue working is available. Any transaction that is broadcast can receive attention within fractions of a second, and confirmation can be expected with a 99.99 percent certainty.
No transaction delays will occur as the selected witnesses are on hand to attend to transactions as they arise. Moreover despite not using POW or POS, the following essentials will be available to attend each transaction:
- Every transaction will attract a block header’s hash that incorporates the most recent transactions
- The previous transactions also incorporate a block header’s hash that trails the past transactions.
As a result of the above, there cannot be a repetition of a transaction despite not using POW or a POS algorithm. This closes the door to a loophole that can be exploited for fraud. This also helps the network to identify a user who attempts to side-step the transaction protocol. As the elected witnesses are on hand, transactions are expeditious, and the transaction hash keeps the trail for verification purposes.
Countering Transaction Slowdown
The effect of the POW and POS algorithms is that miners can decide to stay off work as the rewards might have reduced for a number of reasons. On DPOS, the elected witnesses are not open to exercise such discretion. Every elected witness is contract-bound, and a full capacity is assured always to verify transactions.
Outside of the methodology that drives the WAB ecosystem, a need also arises to examine the particular process of node verification. Fewer nodes are required to consent to transactions, and having been elected, the fluidity and pace of truncations are maintained.
In incorporating the dynamic multigraph sharding concept, WAB answers the question of speed of processing that limits blockchain adoption by big businesses. The sharded multigraph function is dynamic in processing 100 million TPS as it scales transactions arising on the network.
By ensuring that the platform adjusts its processing speed to accommodate the demands that arises at each point, WAB keeps the speed requirement. As transactions arise, they are allotted by breaking the network into shards that take up each transaction requirement. All these processes will occur in a parallel manner that allows for efficiency and the benefit of the optimized scaling.
In highlighting the benefits of horizontal scaling, WAB is able to sustain smart contracts, and processing ongoing or resultant transactions without a hitch. The DPOS ensures that no slowdown occurs, and the dynamic multigraph sharding function expedites transaction processing pace.
So, irrespective of an ICO occurring, or several transactions getting presented at any height, WAB continues to run smoothly with the full support of nodes; functionality. In avoiding the POS pitfall, all nodes on the network are not required to validate transactions, and only the elected witnesses will have to do this. In full effect, a majority of nodes are available for processing of transactions at all times.
By further extension, WAB ensures an added efficiency by using a vertical component of scalability. In the vertical, more resources incorporated into the network add computational power and storage to WAB. In effect, nodes will not be challenged in the sense of limited resources at any time.
An operational efficiency comes with network sharding, and any probable dysfunction is eliminated by CPUs provided in vertical scaling. Without a doubt, the beauty of the blockchain lies in its decentralized operational system. Nodes exist globally, and the computational storage is shared across the network.
In optimizing these resources numerous chains are sustained by WAB. They might be parallel, but, they run on the same network. In governance, all the chains are subject to the WAB standards, and no transaction escapes verification by elected witnesses.
WAB is a 5th generation blockchain that places premium on speed of processing, efficiency and security. By attending to these three premises, it solves the challenges that dogged the blockchain up to the 4th generation. The WAB revolution is on course.
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