Eleven01 — Blockchain protocol Full Details and Review
Introduction:
There are very few projects that have brought a revolution in the crypto ecosystem, Eleven01 is one among them, Are you wondering why I am hyping this project so much then I recommend you to read the whole article then you will get to know.
First things first What is Eleven01?
What is Eleven01:
Eleven01 is a Blockchain Protocol and an infrastructure project which is similar to Ethereum, EOS and mainly used to generate tokens, Decentralized applications, smart contracts and lot more. It is one of the fastest, high scalable blockchain protocol which aims to make blockchain technologies ready for real-world use.
What makes Eleven01 Different:
If you are familiar with Blockchain the main problems that the present industry has facing are security and scalability so this project has come with an innovative concept to solve those complex problems.
Key Features of Eleven01:
1.Key and Account Management:
Enhancing the security and governance of the network.
2.Inherent Privacy:
Encrypted transaction on the ledger without the need for decryption.
3.Oracle:
Ability to select Oracle models that best fits developer needs.
4.Marketplace:
To publish custom algorithms available for purchase.
Main Technology:
Dynamic Consensus:
The consensus in the blockchain when a majority of nodes come to a common understanding this is generally called Consensus and agree to a specific thing.
The logic of the method of how the nodes (computers) arrive at a consensus is known as Consensus Algorithm.
Dynamic Consensus is the ability to be able to pick up any of the algorithm…dynamically by way of a trigger from a member node or administrator. Once most have voted then the switch to a newer consensus takes place.
Transaction Engine:
With Eleven01, clients can pick the exchanging motor that bodes well for their usage of the convention. Eleven 01 underpins a wide cluster of exchange motors relying upon the system topology. It can work inside an open untrusted condition where trust should be decentralized and prepared into the convention layer itself. While setting up the open chain, Eleven01 can pick between various calculations including Proof of Stake, Proof of Work, BFT-based accord and so on. Furthermore, Eleven01 will give acquaintance and aides with clients to pick the most reasonable agreement connected for their chain.
In a private, permission, or consortium situation, the chain can use secure enclaves in TEEs (Trusted Execution Environments) to cryptographically approve and seal the exchanges on the record. Exchanges are prepared free inside the protected enclaves, this exponentially expanding the exchange throughput. With this model, exchanges can be prepared at the paces more prominent than 10,000 exchanges for every second.
Eleven01 Use Cases:
- Artificial Inteligence.
- DApps.
- Exchange.
Testnets:
Till now Eleven01 has three testnets:
Result of the first testnet was awsome.
In the second testnet, they have improved the network.
And the most awaited third testnet is live.
Community:
Telegram: https://t.me/Eleven01Protocol (+1000 members)
Eleven01 has a telegram group where you can interact with like-minded people and can discuss anything about the project.
The group is always active and the admin will be available 24/7 to answer your questions and concerns.
Team:
Aergo has a marvelous team which has more concern about their project I personally like their UI of their website and there are trying their level best to the project.
Partnerships:
There are many top-notch partnerships with this project in which Microsoft and Tech Mahindra are the most important partnerships.
About Microsoft:
Of course, everyone who belongs to earth is aware of this company,
Microsoft was founded by Bill Gates and Paul Allen on April 4, 1975, to develop and sell BASIC interpreters for the Altair 8800. It rose to dominate the personal computer operating system market with MS-DOS in the mid-1980s, followed by Microsoft Windows.
The company’s 1986 initial public offering (IPO), and subsequent rise in its share price created three billionaires and an estimated 12,000 millionaires among Microsoft employees. Since the 1990s, it has increasingly diversified from the operating system market and has made a number of corporate acquisitions, their largest being the acquisition of LinkedIn for $26.2 billion in December 2016, followed by their acquisition of Skype Technologies for $8.5 billion in May 2011.
About Tech Mahindra:
Tech Mahindra is a $ 4.9 billion business with 113,550+ professionals in over 90 countries, helping more than 926 global customers including Fortune 500 companies. The company specializes in providing services relating to IT, Business Process Outsourcing (BPO) multinationals of India. Tech Mahindra is working with over 90 blockchain projects around the world.
Roadmap:
Eleven01 Unveiled
- White paper launched
- Tech Mahindra Strategic & Partnership announced
System Architecture
- Framework, Design
- Strategy — Security
- Data
- IPMS
- Identity Mgmt. & consensus
Detailed Design
- GitHub commits for key modules, components
- Individual component-level unit verification
Testnet Release
- Controlled Beta with select dApps
For more information about Roadmap please refer to the Official website.
