Enecuum Blockchain Algorithm
On October 24, Konstantin Zhidanov, Enecuum tech lead, has performed with a lecture telling about Trinity algorithm, which is used in Enecuum blockchain. He told about the blockchain protocols evolution, explains the ideas compiling the Trinity algorithm and answered the public questions.
First, Konstantin described the consensus definition. He told about the history of consensus appearance, well-known Byzantine Generals’ Problem described by Leslie Lamport, Robert Shostak and Marshall Pease in 1982.
He also reminded audience of Nacomoto consensus where the PoW system is used as a distributed time server. Back in 2002, Adam Back has showed an PoW algorithm as a protection from spam in his article “Hashcash — a denial of service counter-measure”. In 2008, Satoshi Nakamoto presented a short article called “Bitcoin: A Peer-to-Peer Electronic Cash System” about how the cryptocurrency can be created:
Speaker told about the scalability of the protocol, and the main arguments against the block increase:
- A hard fork requires waiting for sufficient consensus.
- Risk of catastrophic consensus failure
- An emergency hard fork that can achieve consensus can be deployed on a short time period if needed.
- Orphan rate amplification, more reorgs and double-spends due to slower propagation speeds.
- European/American pools at more of a disadvantage compared to the Chinese pools
- “Congestion” concerns can be solved with mempool improvements including transaction eviction.
- No amount of max block size would support all the world’s future transactions on the main blockchain (various types of off-chain transactions are the only long-term solution)
- Fast block propagation is either not clearly viable, or (eg, IBLT) creates centralized controls.
Then, the discussion came to Bitcoin-NG and Waves-NG concerns, including the scalability comparison between Bitcoin, Ethereum, Waves and Waves-NG.
Speaker described the ID-based cryptography scheme and talked about its advantages and problems:
- PKG can subscribe and decipher the messages without the authorization;
- no mechanism of keys recall;
- needs a secret channel for sending the keys from PKG;
- IBE scheme can be broken by a quantum computing system;
- sign scheme and ciphering are very different.
Some of disadvantages can be removed due to ENQ protocol, some of them are not significant for our appliance.
Going back to Enecuum blockchain, Konstantin showed the simplified Trinity algorithm description: data structure is formed by the participants of three types: solver (PoW), holder (PoS) and publisher (PoA).
No one can imitate a work of each other — this is reached by the cryptographic methods:
He explained each participant aims:
Solver — participant who is responsible for K-blocks generation;
holder — network participant, having a necessary number of coins;
publisher — participant, taking part in microblocks publishing.
The main protocol objectives
- As in any blockchain system, Enecuum should check the participants’ work post-factum.
- Also ENQ tried to maximally divide the system function where one is mining, second one is publishing the microblocks and the third one is generating the keys.
- To complicate the system “compromizing”.
- To involve the mobile users to the system
He concluded his presentation with discussing the plans of Enecuum:
- Evaluate the possible quantity of different intentional devices
- Engage cryptography specialists to analyse the algorithm
- Make an evaluation of a system output capacity using the methods of simulation modeling.
- Implement the algorithm in Testnet
So, evidently, Enecuum is going forward and also looking for the cryptography specialists who would like to share their experience with the project and become a part of future.