Overview of DNA
Blockchains today exist as isolated islands: digital assets, digital identities, data, messages and smart contracts on one blockchain ecosystem aren’t able to communicate or interact with other blockchains. Private chains and consortium chains generally lack transparency, and as such cannot be audited by any independent third party.
This lack of interoperability hinders adoption and the technology’s progress, as any great improvement will generally be exclusive to one blockchain, and decentralized applications cannot be run across blockchains with different protocols.
The most popular consensus algorithms today are still POW, POS, DPOS and variations of BFT algorithms. Blockchains maintaining POW at present include Bitcoin, BCH, Ethereum, Ethereum Classic and many others. Despite its track record in security, certainly as far as
Bitcoin is concerned, POW is often criticized for wasting energy2 and remaining prone to known attacks like 51% attacks, selfish mining attacks, and others. The POS Consensus Algorithm does not yet have many great success stories to speak of. There are projects experimenting with different variations of POS, with NXT and Peercoin falling into that category. Recognizing this, DNA has launched 5 Components of Next Generation Blockchain including: Performance, Identity, Interoperability, Security and Oracles.
- Performance: The DNA chain delivers an exponentially faster throughput with greater transactions-per-second, providing a platform for powerful smart contracts and decentralized applications without bottlenecks, congestion or skyrocketing fees.
- Identity: The Metaverse Avatar is an on-chain digital identity, capable of owning assets and participating in smart contracts or decentralized exchange. Unlike identity data storage in traditional systems, the Metaverse Avatar only reveals information when authorized by the user.
- Interoperability: DNA is designed as a standard, to be employed on other public blockchains seeking to benefit from the scalability it offers. That standardization brings with it the potential for cross-chain dApp support and enhanced developer cooperation.
- Security: The DNA chain uses a purpose-built delegated proof-of-stake consensus mechanism, in combination with the Metaverse basechain’s hybrid model. This radically increases complexity for would-be attackers while rewarding honest participants.
- Oracles: Real-world data is brought on-chain by decentralized intermediary oracles. Whether market prices, sport results or the status of a shipment, oracles deliver information that makes smart contracts truly smart.
So what is DNA? DNA is a pioneering public blockchain built to solve for three of the major pain-points in blockchain technology — scalability, security, and true decentralization.
With 5 Components of Next Generation Blockchain DNA Token was born
With the things that DNA has been and will look forward to in the future such as:
The DNA chain is governed entirely by the community, rewarding all participants for their roles in the network.
- Super Nodes are elected or replaced by consensus among Regular Nodes and make decisions on any protocol change to the DNA blockchain.
- Regular Nodes keep full copies of the Metaverse and DNA blockchains, and validate blocks to earn rewards. They can accept delegations from Child Nodes and return their proportion of rewards.
- Child Nodes do not need to maintain full copies of the blockchain, and can delegate their staking power to Regular Nodes to generate rewards.
rewarding all participants for their roles in the network.
DNA is a potential project with ideas and long-term insights into the blockchian future, I am confident that they will increasingly develop and do what they are expected to do, and DNA gives people a real deal. Fast, secure transactions and highly secure listening based on Metaverse.
For more details
- Website : https://mvsdna.com/
- Telegram : https://t.me/mvsdna
- Twitter : https://twitter.com/mvsdna
- Medium : https://medium.com/metaverse-blockchain
Author: vietnamoiiu
- Telegram: @mrsieo
- Bitcointalk username: vietnamoiiu
- Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2721691
