Why is the BigTangle a true successor to blockchains (Bitcoin and Ethereum) ?

J Cui
J Cui
Sep 5, 2018 · 3 min read

BigTangle is a cryptocurrency network extending the directed acyclic graph architecture with Markov Chain Monte Carlo (MCMC) as a consensus algorithm and the distributed Proof-of-Work.

Through the use of industry standard big data technology in conjunction with the parallelizable architecture, BigTangle is a successor to conventional block chains in the sense that it generalizes existing blockchain and smart contract architectures and makes them usable on a global scale as well.

BigTangle focuses on economically important key use cases. Custom token issuances, market exchanges, mining and smart contracts are supported.

Comparison with Blockchains (Bitcoin and Ethereum)

BigTangle is a successor to Bitcoin and Ethereum with blockchains as a platform.

BigTangle inherits all functionalities provided by Bitcoin and Ethereum. That are the special cases of BigTangle. The multidimensional BigTangle can be reduced to a blockchain by disallowing multiple block predecessors. The implementation of BigTangle shares a common base with Bitcoin, UTXOs, Script stack language and ECKeys.

The main problems of blockchains are low confirmation speed and scalability. The reason for this is the mixing of coinbase (mining rewards) and user transactions in one block, even though user transactions are highly parallelizable due to their independence from each other.

Indeed, the mining rewards must be a chain to allow for reward and difficulty adjustments as well as ensure a game-theoretically stable consensus. Here, classical blockchains use the simplest consensus algorithms: the longest blockchain wins and chains are mutually exclusive to each other.

Instead, BigTangle splits user transaction blocks from mining rewards and allows parallel conflict-free user transaction blocks to be unified in the consensus. To achieve this, BigTangle allows blocks to have two predecessors and uses the MCMC algorithm to rate and build new blocks, thereby establishing consensus without forcing parallel blockchains to be mutually exclusive.

BigTangle therefore generalizes existing blockchain and smart contract architectures and makes them usable on a global scale.

BigTangle is a successor to Bitcoin and Ethereum with blockchains in regards to scalability, finality and decentralization.

Scalability:

1) BigTangle is a cryptocurrency network extending directed acyclic graph architectures with Markov Chain Monte Carlo (MCMC) as a consensus algorithm, that allows for blocks created in parallel to be unified later.

2) BigTangle is implemented with Big Data technologies: Kafka, Spark and Hbase.

In our cluster with 5 server nodes, more than 1 million transactions per seconds (TPS) can be achieved. Big Data and blockchain paralllelization is the only solution to get significant TPS at affordable costs.

Finality and Confirmation:

Assume that the network is synchronous, then BigTangle can achieve confirmation for finality in real time. MCMC ensures that when the network hash power has voted on a transaction, it will continue to stay in the consensus with extremely high probability. Bigtangle is a client and server architecture and enables the clients to make transactions and check balances on different servers.

Distributed POW Mining

BigTangle is inherently a client and server architecture. There is no need for Pools, since the PoW-Mining is of low variance (almost all of the blocks are rewarded) and significantly reduces the need for pooling, while conventional blockchains exhibit a winner-takes-it-all reward scheme.

BigTangle is a successor to Bitcoin and Ethereum with blockchains in regards to functionality.

BigTangle natively implements a protocol for self-issuing custom tokens. Users can issue custom tokens and use them on BigTangle to serve their needs.

BigTangle implements container technology for smart contracts written in many computer languages, e.g. Ethereum VM.

BigTangle realizes a variety of economically important key use-cases: Beyond the decentralization of payment processing, the network can be used as a base service layer for the decentralization of markets in general, transfer and ownership management, authenticity proofs for assets of any kind or supply chains and ownership management.

As a protocol for the internet of value, The BigTangle software can be deployed in private or other permissioned environments, allowing one to run private, owned BigTangle networks with different rule sets.

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