It has become apparent that scalability in the world of blockchain technology will remain a pressing problem.
While cryptocurrency developers are working on addressing these issues right now, there is no unified approach. BloXroute Labs is working on a proprietary solution that will allegedly offer scaling and be compatible with all existing and future blockchains without too much of a problem. It’s an ambitious goal, and one worth keeping an eye on. The bloXroute solution, developed by BloXroute Labs, primarily aims to resolve the bottleneck presented by blockchain technology today. If things go according to plan, this concept will provide scalability for up to thousands of transactions per second in an on-chain manner. Although other projects have made similar claims, bloXroute is unique in that it can be applied to all existing and future distributed ledgers alike. It is very different from what most people are accustomed to in this industry. Unlike most other scaling solutions, bloXroute runs underneath the consensus layer of existing cryptocurrencies and blockchain projects. That makes this scaling solution pretty unique, especially because it supports all kinds of blockchains one can think of. While it may not necessarily be the end all, be all of blockchain scaling solutions, it can certainly shake things up quite a bit. Additionally, bloXroute is designed in such a way that it is fair to all nodes. As we have seen throughout the cryptocurrency industry, not all nodes are treated equally these days. bloXroute is seemingly incapable of discriminating among nodes or censoring blocks, which is something well worth keeping an eye on. Interestingly enough, it seems bloXroute doesn’t even require majority adoption to be deployed on a new or existing blockchain network. This means users who run a node can utilize this solution, regardless of what the remainder of the network thinks. Having more options is always a good thing in the blockchain world, although it remains to be seen if bloXroute will gain significant adoption. Although it is evident bloXroute can make a meaningful impact, there is no guarantee of success. With specific aspects of this network not being open sourced just yet, some people may remain hesitant when it comes to adopting this technology. There may be an eventual token sale to issue BLXR to users as a way to boost overall adoption, although those plans have not been officially set as of yet. IC3 is an initiative of faculty members at Cornell University, Cornell Tech, UC Berkeley, UIUC and the Technion. It was founded to advance the development of blockchain technology by making its collective world-class expertise in cryptography, distributed systems, game theory, and programming languages available to industry partners. It’s based at the Jacobs Technion-Cornell Institute at Cornell Tech in NYC. IC3’s additional partners include Microsoft, Intel, IBM, and J.P. Morgan. A Better Bitcoin Relay? ICO VCs Back New BloXroute Network BloXroute’s founder worries relay networks that speeds data between crypto miners are not censorship resistant and too slow to foster scaling now.
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- Fair to all nodes
- Cannot discriminate nodes
- Cannot censor blocks
Email sent successfully.. BloXRoute, a scaling solution for blockchains, has just come to surface and has already started gaining noticeable attention.
The bloxroute solution will become more and more important as the cryptocurrency grows and has more use, demanding better efficiency as was witnessed with Kin. But bloXroute’s solution works to eradicate that problem through its aforementioned functionalities. The data that can be exploited by other entities is never shared in the first place, and thus the problem never occurs. Through its one of a kind solution, bloXroute aims to provide never seen before capabilities to its users. Furthermore, by its easy to start features, bloXroute also remains simple to adopt and can be utilized by any single node on their own discretion. Further details about bloXroute can be found through its official website. An excerpt from their whitepaper shows the core of what the company and the bloxroute solution is all about. “To be truly useful for ordinary men and women all around the world, cryptocurrencies must scale the number of transactions they can process by a factor of x1, 000, from 3–5 transactions per second (Bitcoin and Ethereum) to thousands of transactions per In fact, hundreds of transactions per second will be required only to enable U.S. cars to pay for gas on a bi-monthly basis, or alternatively, to process the cups of coffee purchased at Starbucks. To allow machine-to-machine micro-transactions, and realize The company seeks to help scale up blockchains. “To overcome this limitation, and to allow all cryptocurrencies to scale to thousands of on-chain transactions per second today, we propose bloXroute, a provably neutral transport layer which runs underneath cryptocurrencies. bloXroute allows to safely increase the block size and to cut down the time interval between blocks, without increasing the risk of forks, and provides real-time support for immediate transactions with zero-confirmation (0-conf). The use of bloXroute requires no consensus, nor a protocol change, beyond adjusting system parameters. bloXroute resolves the information propagation bottleneck, allowing all nodes to maintain the consensus over the state of the blockchain, even when mining thousands of transactions per second, on-chain. Follow us on Social Media: According to the BIoXroute Labs team, there is one part of Bitcoin that is not censorship resistant, and this is its relay network. BloXroute Labs just brought its relaying information network between blockchain nodes out of stealth with a powerful group of investors including Flybridge Capital, 1confirmation, AngelList co-founder Naval Ravikant, and Metastable. With these investors’ help, the firm raised $1.6 million in an equity round. However, the new network is more ambitious than the capital indicates. The project is called BloXroute and it aims to make relay networks censorship-resistant against any number of powers. This is possible by blinding the system from acknowledging how nodes connect with each other.
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- Immediately usable
- Usable by any single node
- Does not require majority adoption
The smaller mining pools see a higher number of orphan blocks (these that were not eventually added to the blockchain) as they were usually not the ones that found blocks.
This means that they spent time working on the wrong blocks because the information took some time to propagate to them. Therefore, in a try to level the playing field, relay networks let faster for the faster propagation of information over the network. He added that then the blockchain is pointless, so we can leave the bank in the middle. In order to eliminate this issue, Klarman collaborated with Soumya Basu and Cornell’s Emin Gun Sirer for building what they call a BDN or Blockchain Distributed Network. According to Klarman, the neutrality of BloXroute Lab is based on its ignorance of what it carries. In other words, the protocol does not know what is the data it is propagating. Actually, it does not even aware of what network it is serving. The project is not meant to privilege any blockchain, but instead to make it easy for every blockchain to scale. The project’s white paper describes the methods that enable its blindness. Except for the censorship-resistance the team has implemented into the system, the scalability is another benefit of BloXroute Labs. Mr. Klarman stated that the majority of people don’t understand completely the scalability problem. The BloXroute team’s main argument is that the scalability problem is actually a networking problem. Further, the company’s white paper mentions a token for providing a way to invest in BloXroute Labs (and not to access the system). We still do not know when the tokens will be on sale. At first, BloXroute will be totally free to use. Nodes are going to pay BloXroute by implementing a small extra charge to transaction processing fees to users. These fees will be negligible, but 50% of all fees collected will go into a fund backed by the company’s token. Klarman claimed that they can remove the scalability for all cryptocurrencies, reaching the point where cryptocurrencies could start to compete over real-world traction. He added that each cryptocurrency can make its own decision what to do. You’ll be kept up-to-date with our progress regarding ICO’s site updates and lots of other goodies. TBA PRE-SALE: ICO Min/max personal cap: 0.00 / 0.00 ICO Token Price: 0.00 USD, 0.00 ETH, 0.00 NEO CONTACTS [email protected] With the networking bottleneck removed, each cryptocurrency community is free to adjust its protocol to best leverage this newfound capacity, in order to increase its real-world impact and value. Note that the payments to bloXroute are utterly voluntary, yet they incentivize miners to require a significantly smaller fee. bloXroute is thus designed as a Win-Win-Win scenario, benefiting users, miners, and the bloXroute system alike, with 99.9% of the value created being captured by the users and the miners.
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- systemwide caching that enables faster propagation and Gigabyte-size blocks
- cut-through routing that enables swift and efficient transmission of blocks through the network.
Uri Klarman – CEO – He is the most vocal proponent of bloXroute, which is his doctoral dissertation work at Northwestern University.
Uri is an interdisciplinary networks researcher, and his work encompasses innovative uses of Computer Networks, disruptive blockchain networking schemes, alternative content distribution networks, trustless peer coordination, and security. Prof. Emin Gün Sirer – Chief Scientist – He has been involved in the field of crypto from the very start. He had pivotal roles in characterizing the Nakamoto consensus, the DAO detection, and aftermath. He is a pioneer in on- and off-chain scaling, and, most importantly for this project – he is the inventor of the Falcon backbone relay. His work and systems on congestion control, traffic analysis, and content distribution have been widely disseminated on the Internet, finding its way to millions of users. Soumya Basu – CTO – He is a member of the Initiative for Cryptocurrencies and Contracts (IC3) group at Cornell University. He is most well known for creating the Falcon Network, which has been operational in the Bitcoin network since April 2016. Soumya’s work aims to remove trust without reducing performance in cryptocurrency systems. He was awarded the NSF Graduate Research Fellowship and a paper award at ACM SIGCOMM. Nodes need not place any trust in the BDN. Instead, the BDN blindly serves the nodes, without knowledge of the blocks it propagates, their origin, or their destination. BloXroute is protocol-, coin-, and blockchain-agnostic, capable of simultaneously supporting any number of blockchains. BloXroute propagates blocks in the exact same manner for every user of the system. In particular, bloXroute propagates blocks without knowledge of the transactions they contain, their number, and the “wallets” or addresses involved. Miners are free to include arbitrary transactions in a block. Furthermore, bloXroute cannot infer the above characteristics even when colluding with other nodes, or by analyzing blocks’ timing and size. bloXroute cannot favor specific nodes by providing them blocks ahead of others, and cannot prevent any node from joining the system and utilizing it. In short, bloXroute can only propagate all blocks to all its Gateways fairly. To achieve neutrality and enable its auditing, bloXroute supports encrypted blocks, which prevent it from stopping the block propagation based on its content or any other feature. A block’s encryption key is only revealed after the block has been propagated through the network. Nodes can actively audit bloXroute’s service and performance by sending test-blocks to bloXroute. Lastly, bloXroute incorporates peer-controlled measures to sustain blockchain operations even in the event of a complete system failure. Regardless of the consensus protocol, every honest peer must obtain information about each transaction in the system. bloXroute focuses on this particular problem, which is fundamentally a broadcast problem since every valid piece of information (transaction/block) must be propagated to every honest peer in the system. BloXroute is thus complementary to a native consensus protocol used, and it is capable of boosting up the performance, often dramatically, for any blockchain. BLXR was designed with two goals in mind: to align the incentives of the entire cryptocurrency ecosystem and to be a vehicle for investment in bloXroute.
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Each BLXR is exchangeable for a proportional portion of a unique cross-cryptocurrency reserve, the BLXR-Reserve, which consists of multiple cryptocurrencies.
Thus, the holder of 1% of the entire BLXR supply can “cash out”, and exchange it for 1% of the funds currently held at the BLXR-Reserve. Even when BLXR are “cashed out” and funds leave the BLXR-Reserve, the “cashed out” BLXRs leave the circulation, leaving the price floor of BLXRs unaffected. The value of BLXR is affected by the valuation of other cryptocurrencies since such valuation would affect the value of the funds held at the BLXR-Reserve. Thus, an investment in BLXR has some similarity to a diversified investment in all the cryptocurrencies which utilize bloXroute, since bloXroute will receive payment from them. For each transaction, bloXroute’s optional payment is 10% of the miner fee. BLXR thus aligns the incentives of the entire ecosystem: bloXroute, cryptocurrencies, users, miners, and investors. 50% of these earnings will be immediately directed to the value of BLXR. So far no information about the token sale metrics is provided by the team. Reddit https://www.reddit.com/r/bloXrouteLabs/ has 148 readers, last activity there seem to be almost 3 weeks ago. www.ligercoin.com Liger is a top end blockchain technology led safe cryptocurrency for Online/Offline Gaming and Casinos; and access to Fantasy Sports. It ensures liquidity… bloXroute https://ift.tt/2H5Ajfd ICO DRAFT via ICO Drops https://icodrops.com April 10, 2018 at 07:35PM Please, describe the bugs in the data. Missed rounds, incorrect statuses, unworkable links or any other bugs found. Cypherium announced a partnership with bloXroute Labs in order to increase scalability for blockchains. The partnership will introduce new improvements to the already transformational Cypherium Blockchain. Cypherium is developing a highly scalable, adaptable blockchain capable of processing thousands of transactions per second. The utilization of the bloXroute technology will help Cypherium achieve unique real-world scalability. bloXroute’s main goal is to promote the success and real-world traction of blockchains and cryptocurrencies. bloXroute does so by providing the first trustless and provably neutral Block Distribution Network (BDN), which can be applied to any blockchain that wishes to do so. Cypherium is a highly scalable & permission-less hybrid blockchain platform based on proof-of-work and Byzantine fault tolerance consensus. The design goal of Cypherium focuses on achieving the apex of scalability, decentralization, and commercialization viability. “We are very excited to reveal bloXroute, a scalable substrate that is designed to bring on-chain scalability to all blockchains. For more information see Cypherium’s white paper. This article was originally posted on Trustnodes - a trusted site covering numerous topics related to cryptocurrency and a great selection of news and editorial content. For more check the link below. This offer is based on information provided solely by the offeror and other publicly available information. The token sale or exchange event is entirely unrelated to ICOholder and ICOholder has no involvement in it (including any technical support or promotion).
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