The Trust Machine — Part2: A model of the entire DLT space

Designing humanities trust layer for the digital world

The Fundamentals

Now that we have established these basic facts, we can continue to develop our model by comparing two of the major consensus mechanism.

Classical consensus

Nakamoto consensus

This level of freedom and flexibility is the reason why 99% of all DLTs use a blockchain.

Defining the model

While probabilistic finality sounds inferior at first, it is usually considered to be equally secure because it allows for a higher amount of malicious nodes (50% instead of 33%) and a larger network (more on that later).

The emergence of Bitcoin maximalism

Hybrid solutions

The unexplored quadrant

By using Cardanos EUTXO model, this block-less architecture is even able to directly model smart contracts (without a perception of total order). The state can be placed out in the open in the form of an output without relying on an instance that establishes a total order of all requests. If two entities want to consume the same state at the same time, then the consensus mechanism will ensure that only one of them is successful.

Conclusion

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I am a hacker, feminist, futurist and tech enthusiast working for IOTA and trying to make the world a better place (whatever that means) :P

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Hans Moog

I am a hacker, feminist, futurist and tech enthusiast working for IOTA and trying to make the world a better place (whatever that means) :P