Democratizing IoT data with infinitely-scalable concurrent contracts, trustless light nodes, and encrypted data markets on top of block lattice.
Taraxa aims to democratize IoT data with concurrent contracts, light nodes, and encrypted data markets on top of block lattice.
Taraxa’s has a smart contract system which is fast for two reasons:
First, on a single node, Taraxa provides a concurrent VM to allow hundreds of smart contract calls to be processed in parallel, and a set of concurrent data structures built into the VM to minimize any conflicts that processing these smart contracts might run into. Much of this design is based on the principles of software transactional memory’s (STM) speculative concurrency algorithms. This is fast because all other blockchain systems today process smart contracts sequentially.
Second, across the network, the first time any smart contract call is processed is split between nodes. That is, anytime a new smart contract call is first processed, only a single node on the network does it. This allows this single node to independently define fine-grained order (the smart contract creator defines order by sets on each smart contract’s chain) and a concurrent schedule for all other full nodes to later validate against by processing the same set of contracts themselves. This ensures there are no wasted processing and that the network is scalable. This is faster because conventional blockchain systems waste all but a single processor (e.g., miner)’s block.
Current DLT has weak foundations
Distributed ledger technologies (DLT) can address many of IoT's challenges, making them perfectly complementary. The bad news is, current DLT's foundation is weakened by numerous flaws, making it poorly-suited for large-scale IoT applications, which is why we built Taraxa.
Concurrency inspired by STM: orders of magnitudes faster
Inspired by the principles of software transactional memory (STM), Taraxa achieves node-level concurrency by speculative parallelization of smart contract calls, with conflict minimization achieved from built-in concurrent data structures.
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End 09 Jul 00:00 UTC