Grayblock enters its second year as INT Thearchy Node

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One year ago, Grayblock was elected into the top 13 validators on INT Chain and became a Thearchy node, mining our first block on 1/30/2019 at 10:46 AM UTC.

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Now one year and over 3 million blocks later, Grayblock has consistently been part of the validating node pool and watched as INT grew from only a handful of nodes to 217 candidates, from less than 20% INT staked to now nearly 70% (~277,000,000 INT)! This year we have seen our INT voting rewards program (here) grow to over 100 members, amounting to 3,282 reward transactions sharing a pool of over 130,000 INT. …

Maintaining high-speed consensus through multiple chains and dynamic shards

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In our previous article, we talked a bit about what led up to Pchain and why Pchain made the framework decisions they did. That left us with a fairly high-level overview of how Pchain operates, but under the hood is a fascinating and complex evolution of PBFT that seemingly solves what is known as the Trilemma: every distributed network is a trade-off of time to finality, protocol overhead, and decentralization [Fig.1].

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Fig. 1 From Vlad Zamfir’s paper on Ethereum Casper Protocol

What this means is you can have optimal setups for two of the three variables but not all at once. Do you want a highly decentralized network with fast finality? Your nodes will have very high hardware and bandwidth requirements. Fast finality with low node requirements? You will have to limit how many nodes are operating as validators. Concerned only for a low barrier of entry for nodes to encourage high decentralization? …

The dynamically sharding, multichain DPoS smart contract platform for large scale decentralized applications

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I know the title is a big statement, but I don’t mean it negatively. Ethereum rocked the world with their idea of a distributed virtual machine executing smart contracts that serve as the basis of trustless and decentralized applications. But what we saw in 2018 was a flurry of token creation, ICOs, and DApps that quickly congested the network. DApps like Cryptokitties showed the potential of decentralized applications but also showed the network wasn’t ready for the scale of use it was seeing. During this time, this congestion drove transaction fees from $0.20 to over $5 per transaction. …

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While there are certainly several IoT concerned crypto projects out there, there is only one front runner, IOTA. This leaves many wondering how INT stacks up against what many believe to be the future of IoT networks. I did cover IOTA in my previous comparison article, against many other projects, but many things have changed and the complexity of where IOTA is today makes it worth more of a deep-dive look.

To keep in mind some of the important qualities discussed in the comparison article on what makes a good IoT network:

-Scalability — How does it globally scale, to billions of devices? …

If you would like to read this in white paper format, click here.

Abstract

Data transmission is one of the core functions of IoT. Decisions being made within the network will rely on data to do so. Existing protocols for the storing and retrieval of data in a distributed network are general in their approach and do not provide in protocol privacy controls. IPFS is the leader in this space but is focusing on decentralized Internet. Using the file hash as the requesting key, building a picture of who-requests-what can lead to a breakdown of anonymity. …

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There is ample documentation for PCHAIN here and here but in its completeness, it can be a little confusing. This is an effort to simplify it down to just what you need to know to get you through the process. This will be a living guide with details for each operating system coming, so if you have issues or questions, please let us know.

In general, we recommend a Ubuntu 16.04 foundation.

Linux — Ubuntu

Installing PCHAIN

First make sure all base packages are up to date. In terminal:

sudo apt-get update && sudo apt-get upgrade

Now we will download pchain source (we assume here that v1.0.23 is the latest. If not, update the version number in the commands below.) …

Implementing privacy and anonymity in INT Transactions

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The years of 2017 and ’18 were years focused on the topic of scaling. Coins forked and projects were hyped with this word as their sole mantra. What this debate brought us were solutions and showed us that where we are right now satisfies the current need when paired with a plan for the future. What will be the focus of years to come will be anonymity and fungibility in mass adoption.

In the quickly evolving world of connected data, privacy is becoming a topic of immediate importance. As it stands, we trust our privacy to centralized corporations where safety is ensured by the strength of your passwords and how much effort an attacker dedicates to getting breaking them. As we grow into the new age of the Internet, where all things are connected, trustless and cryptographic privacy must be at the base of all that it rests upon. …

Scaling as a function of finality

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As long as every node independently verifies the entirety of all transactions in the network, the network can only process as many transactions as one node is capable of.

In Part 1 of this series, we discussed PoW finality and the consequence of the consensus mechanism which allows there to always be a chance the chain will be overtaken by another competing chain, thereby reverting transactions. So transaction finality is never a guarantee. Because of this, all nodes in the network verify all blocks and all transactions. …

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Last month, INT released their complete node plan and reward structure. In this was more detail on rewards the node gets based on the number of votes they receive.

In total, the INT network distributes 20 million INT per year as rewards for participating in keeping the network secure. …

2019-01-30 10:46:44.586 Block 117585 — Grayblock’s First Block Created

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At 2:01 AM local time (Pacific time), our node was voted into the top 13, making it an official Thearchy node in the INT network. 45 minutes later, we created our first block.

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This marks the first block generated by a community driven vote. For those that voted for us (and those that didn’t!), this is for you! You are why I started writing, why we started Grayblock and the reason a dream had since those first articles has now been fulfilled. We hope that this will be one block of many as we work to enrich the INT ecosystem and be a voice for the community.

Here’s to making a different world.

-Nicolas @ Grayblock

About

Grayblock

Blockchain and IoT Systems Integrators

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