INTRODUCTION
Cypherium is a latest block-chain that has come to solve some present drawbacks of today's public block-chain infrastructures.
Let's delve a bit into the last decade or so, at look at what's happening to block-chain and through block-chain.
Block-chain, as we know, is a de-centralized, peer-2-peer, distributed ledger or database. Distributed ledger products are ever becoming more and more innovative — breaking many grounds and addressing many digital problems.
Through block-chain, Bitcoin came to transform crypto, making block-chain more popular and acceptable. Then came Etherium with the introduction of smart-contracts technology. Bitcoin and ETH work on the principle of Proof-of-Work, which is a proven, effective mathematical procedure for block-chain.
Nonetheless, it has drawbacks. The drawback that concerns us most is it's 'lack of Scalability'. Different models such as Proof-of-Stake and Delegated Proof-of-Stake have been used but they do not solve the problem. As I earlier mentioned, Cypherium has come to address the current issues being faced by public block-chains.
Cypherium
ABOUT CYPHERIUM!
CYPHERIUM is a new block-chain infrastructure that has come to prove that most or all of the consensus mechanisms that have been incorporated into various ledger systems, such as Proof-of-Work, Proof-of-Stake, Delegated Proof-of-Stake (and so on), actually fail at ensuring enough consensus that will sufficiently satisfy what is required to achieve real Scalability in public block-chains. Some of the things that are required include: Popular Digital tokens exchange and adequate launching infrastructures for de-centralized applications or use cases.
PECULIAR FEATURES AND BENEFITS OF CYPHERIUM!
CYPHERIUM provides a kind of hybrid (mixed) form of consensus solution.
Apart from offering the basic features of the common block-chain such as peer-2-peer system, transparency, security, de-centralization and so on, CYPHERIUM has the following unique or improved (beneficial) features:
FEDERATED ARCHITECTURE
In order to mitigate the issue of out-of-sync validators that produce false positive on valid transparency, CYPHERIUM introduces the federated architecture into their noses network. This enhanced form of architecture facilitates the synchronization of the system; It also makes 'sharding' possible; and facilitates the effective performance of the network for the benefit of its own participants.SHARDING
CYPHERIUM, through the implementation of a federated architecture will utilize sharding at some point in it's operation.SMART-CONTRACTS
CYPHERIUM also implements the smart-contract principle and it will run inside their CYPHERIUM Virtual Machine (also known as CVM). A smart-contract provides the possibility of creating de-centralized apps, user-defined digital resources, etc.CVM
The Virtual Machine is an environment created by CYPHERIUM inside which the smart-contracts will run. It is a secure, digital environment where smart-contracts that are written into CYPHERIUM'S block-chain are executed according to the way the contracts were established or created.
The CVM is said to be an improvement on the Etherium Virtual Machine (EVM), because it is easier to manage and allows greater speed and lower cost even compared to EVM.DUAL-CHAIN
CYPHERIUM utilizes what is known as Dual-chain mechanism. Each of the 2 chains serves a different purpose. With Dual-chain, there is instant verification of all transaction blocks during voting, without mining/confirmation time.
CYPHERIUM USE SCENERIOS (USE CASES)
CYPHERIUM'S distributed smart-contracts block-chain is ideal for a good number of use cases which include (but not limited to):
- Finance
- Messaging
- Voting
- Notarization
- Digital Agreements (Contracts)
- Secure data storage
- A.I (Artificial Intelligence)
- IoT (Internet of Things
CONCLUSION
As discussed in this article, CYPHERIUM is a latest block-chain that has come to solve some present drawbacks of today's public block-chain infrastructures. Lack of Scalability is the most significant of these drawbacks. Despite the fact that the mathematical procedure known as Proof-of-Work used in block-chains is very effective, it still has it's own drawbacks which includes lack of Scalability.
CYPHERIUM is creating a scalable and permissionless smart-contracts platform that incorporates many innovative tools and unique features in order to solve this problem. Some of these features include: Federated Architecture; Enhanced Smart-contracts; CYPHERIUM Virtual Machine (Environment); Dual-chain Mechanism and other common features of block-chain such as transparency, de-centralization, peer-2-peer ledger, traceability, etc.
With these unique features, CYPHERIUM becomes adequate for launching of platforms for de-centralized applications. It is therefore ideal for a good number of use cases, ranging from Finance to Messaging to Voting to Internet-of-Things, and so on.
RESOURCES ON CYPHERIUM:
WEBSITE: https://cypherium.io/
GITHUB: https://github.com/cypherium
WHITEPAPER: https://github.com/cypherium/patent/blob/master/15224.0003%20-%20FINAL%20Draft%20Application%20(originally%200003%20invention%201)%20single%20chain%20in%20pipeline.pdf
TELEGRAM: https://t.me/cypherium_supergroup
TWITTER: http://twitter.com/cypheriumchain
FACEBOOK: https://www.facebook.com/CypheriumChain/
AUTHOR: RITABELL