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Whilst blockchains continue to be developed in the financial domain, seeing the bigger picture is\u00a0 obscured. One blockchain tech group that has come primarily from working on Government applications\u00a0 of blockchain tech, the NuGenesis group, provides a sharp contrast. For as long as they are not tainted\u00a0 by the marketing hype of promoting their coins, they are useful for some analysis as to where the\u00a0 industry is going.\u00a0\u00a0<\/strong><\/p>\n The main driver for the spread of blockchain tech to public services, Internet of Things (\u2018IOT\u2019), security\u00a0 services and everyday social interaction, is the promise that <\/span>blockchain is immutable. It can avoid the single point of failure situation. Dominating this promise is <\/span>the consensus algorithm.\u00a0\u00a0<\/span><\/p>\n Of course, interconnected issues include scalability and selfish mining strategies. <\/span>Larger blocks means larger storage space and slower propagation in the network. With centralization the inevitability, less users influence the blockchain. Also, it has been proved that miners could achieve larger revenue than their fair share through selfish mining strategy. Miners hide their mined blocks for more revenue in the future. Proof of work (POW) is now recognised as excessively unjustified\u00a0 in is waste of energy and consequent environmental impact. Proof of Stake (POS) is being\u00a0 recognised as promoting an aristocracy where the rich will get richer. So where are we going?\u00a0<\/span><\/p>\n Consensus algorithms are about reaching consensus mechanisms among untrustworthy nodes.\u00a0 That is, solving the Byzantine Generals problem where they have to reach an agreement to attack or retreat or the attack would fail. In blockchain, there is no central node that ensures ledgers on distributed nodes are all the same. Some protocols are needed to ensure ledgers in different nodes are consistent.\u00a0<\/span><\/p>\n In a decentralized network, someone has to be selected to record the transactions. The easiest way is random selection. However, random selection is vulnerable to attacks. POW used computer\u00a0 power as the deterrent. Some attempt to solve the excess wastable of energy is PrimeCoin that has\u00a0 a side application which searches for special prime number chains which can be used for\u00a0 mathematical research. NuGenesis developed BitCoin Green with some Bitcoin core devs, to create\u00a0 an offsetting treasury in their minting system that is used for Green projects. But these don\u2019t solve\u00a0 the excess energy solution in the first place.\u00a0\u00a0<\/span><\/p>\n Hyperledger Fabric uses PBFT (Practical byzantine fault tolerance) is a replication alg orithm to tolerate byzantine faults. The process is divided into three phases: <\/span>pre-prepared<\/span><\/i>, <\/span>prepared <\/span><\/i>and <\/span>commit<\/span><\/i>. In each phase, a node would enter next phase if it has received votes from over 2\/3 of all nodes. Like PBFT, Stellar Consensus Protocol (SCP) is also a Byzantine agreement protocol. In PBFT, each node has to query other nodes while SCP gives participants the right to choose which set of other participants to believe.\u00a0<\/span><\/p>\n Ripple\u2019s consensus algorithm utilizes collectively-trusted subnetworks within the larger network. When determining whether to put a transaction into the ledger, the server would query the nodes\u00a0 in each Unique Node List (UNL) in the server and if the received agreements have reached 80%, the\u00a0 transaction would be packed into the ledger. For a node, the ledger will remain correct as long as the percentage of faulty nodes in UNL is less than 20%.<\/span><\/p>\n Tendermint is a consensus protocol that is in Cosmos SDK. Consequently, many crypto use it including <\/span>\u00a0<\/span>Terra (LUNA), Secret Network (SCRT), Band Protocol (BAND). <\/span>In Tendermint, a proposer would be selected to broadcast an unconfirmed block in a round. It could be divided into three steps: 1) <\/span>Pre-vote step<\/span><\/i>. Validators choose whether to broadcast a pre-vote for the proposed block. 2) <\/span>Pre commit step<\/span><\/i>. If the node has received more than 2\/3 of pre-votes on the proposed block, it broadcasts a pre-commit for that block. If the node has received over 2\/3 of pre-commits, it enters the commit step. 3) <\/span>Commit step<\/span><\/i>. The node validates the block and broadcasts a commit for that block. if the node has received 2\/3 of the commits, it accepts the block. Contrast to PBFT, nodes have to lock their coins to become validators. Once a validator is found to be dishonest, it would be punished.\u00a0<\/span><\/p>\n It is with Scalability that these protocols hit barriers. With more transactions, the blockchain becomes bulky. Each node has to store all transactions to validate them on the blockchain because they have to check if the source of the current transaction is unspent. <\/span>A number of\u00a0\u00a0<\/span><\/p>\n protocols, including Mina, <\/span>Netty, Capistrano, Ansible, Chef, and Puppet Labs for example, are about <\/span>\u00a0<\/span>removing records from the network so speed up the data flow. Privacy based coins like Zerocoin, use <\/span>\u00a0<\/span>zero-proof systems to remove the need for miners to validate with signatures. <\/span>Payment\u2019s origin are unlinked from transactions to prevent transaction graph analyses. However, they still reveal\u00a0 payment destination and amounts. Zerocash seeks to solve this problem with, zero-knowledge Succinct Non-interactive Arguments of Knowledge (zk-SNARKs). Transaction amounts and value are hidden.\u00a0<\/span><\/p>\n These sorts of solutions are an anathema to NuGenesis. Coming from working for Government based\u00a0 use of blockchain technology, NuGenesis sees the future as data management and data analytics. Data,\u00a0 they say, is the new Gold. Likewise serious Corporate applications including health care would benefit\u00a0 from blockchain technology that NuGenesis provides. Storage of patient health care information where\u00a0 that information cannot be tampered with, stolen or privacy compromised has implications more\u00a0 appreciated in the current Covid environment. Predictability of behaviour and consequent resource\u00a0 demands is, according to NuGenesis, an imperative we should expect.\u00a0\u00a0<\/span><\/p>\n NuGenesis uses system validators and is given added integrity by a layer of AI monitoring to avoid\u00a0 corruption. Optimal efficiency with excess capacity has been achieved with 4 validators nodes that are\u00a0 super nodes and 1 simple or authority node. The network topology, P2P, uses the Aura round robin\u00a0 protocol to ensure randomisation between validators and integrity of the block.\u00a0\u00a0<\/span><\/p>\n There two consensus mechanisms:\u00a0<\/span><\/p>\n (a) Proof of Authority with useful work AI (Artificial Intelligence); and,\u00a0<\/span><\/p>\n (b) Grandpa, being substrate functionality to ensure block transactions are valid and the\u00a0 longest chain is the best chain.\u00a0\u00a0<\/span><\/p>\n On the NuGenesis main chain, system validators are used comprising the 4 super nodes and 1 authority\u00a0 node which is a simple node. The authority (non validator) node keeps the blockchain data. It can be\u00a0 transacted upon but cannot make a block. It runs the explorer, data analytics and outputs data\u00a0 generally, designed to keep these activities from putting pressure on the validator nodes.\u00a0<\/span><\/p>\n The system validator nodes run on the randomness of the round robin protocol and monitored by AI and\u00a0 can achieve transaction speeds in the milliseconds. There are no requests from 1000\u2019s of validators and\u00a0 fee actions. The streamlined validation process through the super nodes with byzantine fault tolerance\u00a0 and randomness via round robin monitored by AI, makes unnecessarily superfluous broadcasting\u00a0 through validation networks. NuGenesis has found that as few as 4 super node validators is optimal spec\u00a0 efficiency to be an enterprise solution for any of the worlds current global corporations.\u00a0<\/span><\/p>\n NuGenesis\u2019 current innovation is the use of specially designed load balancers for blockchain. Load\u00a0 balancers are used on the internet to transact millions of transactions per second. There is no apparent\u00a0 limitation on the load balancer. All requests from wallets, apps etc come to the load balancer, whose\u00a0 role it is to send the data to the right chain.\u00a0\u00a0<\/span><\/p>\n The load balancers work on both the hardware level (routers, switches and dedicated systems) and\u00a0 software level. They allocate the data according to the utilisation of the relevant chain at the relevant\u00a0 time with where the data is supposed to be processed.\u00a0\u00a0<\/span><\/p>\n NuGenesis load balancers do not require a continence chain to reconnect the data from the separate\u00a0 chains because they have a blockchain ledger built into them with a consensus mechanism that records\u00a0 what is in each block and backs up to a storage chain.\u00a0\u00a0<\/span><\/p>\n With parallel processing of infinite blockchains running as para-networks, scaling up to 1,000 chains\u00a0 parallel processing data is efficient. Data is sent through the load balancer which keeps track of the\u00a0 database and storage of where data is sent in the storage chains. Data can be readily searched from the\u00a0 explorer on the load balancer.\u00a0\u00a0<\/span><\/p>\n With NuGenesis\u2019 implementation of load balancers and consensus before packing on the load balancer,\u00a0 the more parallel network chains that are added, the more data is injected into block creation of the\u00a0 connected chains. Without a validation delay (validation occurring within a 100<\/span>th <\/span>of a microsecond), and\u00a0 accordingly there are more dramatic increases in the speed of transactions. The more chains that\u00a0 connect to the NuGenesis blockchain system with their own sovereign systems, they claim there is no\u00a0 extraneous pressure on any particular system. With parallel processing, the more systems, the faster the\u00a0 transactions processing. Rather than having any layer 2 processing, NuGenesis opted for data flow\u00a0 processing.\u00a0\u00a0<\/span><\/p>\n Whilst scalability is an issue they believe they have solved, accidentally also they solved the Selfish\u00a0 Mining problem. <\/span>Eyal and Sirer showed that a network is vulnerable even if only a small portion of the hashing power is used to cheat. In selfish mining strategy, selfish miners keep their mined blocks without broadcasting. Their private branch is longer than the current public chain and\u00a0 would be admitted by all miners. Before the private blockchain publishment, honest miners are wasting their resources on a useless branch while selfish miners are mining their private chain without competitors. So selfish miners tend to get more revenue.\u00a0<\/span><\/p>\n Based on selfish mining, many other attacks have been proposed to show that blockchain is not so secure. In stubborn mining, miners could amplify its gain by non-trivially composing mining attacks with network-level eclipse attacks. The trail-stubbornness is one of the stubborn strategy that miners still mine the blocks even if the private chain is left behind. Yet in some cases, it can result in 13% gains in comparison with a non-trail-stubborn counterpart. Attackers with less than 25% of the computational resources can still gain from selfish mining.\u00a0<\/span><\/p>\n In NuGenesis, staker-miners are not validators. They have a different duty. They are minters. They say\u00a0 the system was designed to be Green. It was designed to eliminate unnecessary computational power\u00a0 required from validation and unnecessary requests on the system.\u00a0\u00a0<\/span><\/p>\n It is probably best described in the minting of coin to ensure that the tokenomics run as expected.\u00a0 NuGenesis is focused on maintaining an innovate rate in a constantly evolving blockchain ecosphere. It\u00a0 did not start with a large number of created or pre-minted coin. Rather, it is based on a minting system\u00a0 to reward all those participating in the various roles to support the evolution of the system.\u00a0<\/span><\/p>\n In NuGenesis, the guaranteed uniqueness on any block hashing address is achieved by a randomised\u00a0 number known as the universal serial identifier (USI). The USI facilitates the capabilities for blockchain\u00a0 parallel processing, sharding, para-chains and minting. Coins are minted with audit trackability through\u00a0 the USI. Each Coin, Crypto Asset (NFT\u2019s and smart contracts (which they call their version \u201cDNC\u2019s\u201d or\u00a0 Digital Notarised Contracts) can be serialised. This serialisation is a foundational requirement for CBDCs\u00a0 (Central Bank Digital Currencies) and provides the basis for the DeFi to be revolutionised. Crypto assets\u00a0 can be have security attached for lending, can be multi-party owned etc and consequently do not have\u00a0 leave a users\u2019 custody to be utilised.\u00a0\u00a0<\/span><\/p>\n