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Security |
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"Block Security Protocol" (BSP)
Employs a BSP to implement the signature function on each data bock during PoA cosnensus. Only the blocks with authorized signatures can be mined and accepted.
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Data is only shared between parties involved in the transaction, verifiers, and permissioned observers. This allows an extra layer of security from traditional DLT where the data is spread throughout the network.
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Transactions are confirmed and validated through validator nodes.
The more trusted validators in the network, the harder it will be to control and change the ledger as an outside attack.
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Permissioned Aspects
Only permissioned parties can view the raw transactional data stored in the public blockchain. To all others, it will be hashed and secured.
Anyone can become a node, but there is a hard cap of 101 Authority Nodes. It requires a great deal of transparency and public capital to become a node.
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Permissioned
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Permissioned
Anyone can become a validator, but will only be relevant if trusted.This provides public support for infrastructure, but keeps the transaction nature private when needed.
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Yes
Transaction Data Privacy Protocol (TxDP): Ensures privacy of transaction data.
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Privacy concerns are addressed through the pluggable uniqueness services, and restriction of viewing transactions.
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Transaction information on the ledger is public, but payment information is not.
This means that in the event of a security breach, no personal financial information can be compromised through this network.
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Algorithms |
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Proof of Authority
Consists of 101 Authority Nodes that are controlled by separate, self-interested entities. Due to the variety of companies, this will secure the network and ensure a trustless environment. PoA allows for a higher number of TPS than PoW and PoS, meaning VeChain can support up to 10,000 TPS.
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Notaries - Pluggable Framework, Validity consensus and Uniqueness consensus
transaction validity and transaction uniqueness.
https://docs.corda.net/key-concepts-consensus.html
Corda uses special Notary Nodes to reach consensus. Notaries are nodes that specifically address double spend attempts.
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Ripple Protocol Consensus Algorithm
70+ validators
Applied every few seconds by all nodes. Once consensus is reached, the current ledger is closed. Most recently closed ledger is known as the last closed ledger and is the basis of the distributed ledger.
For more information: https://vimeo.com/64405422
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Efficiency |
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No data
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Fast
Built for financial applications
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Fast
3-4 seconds : set to improve with future updates. See future planned work.
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Block Confirmation Time
Details
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Fast
Set during launch at 10 seconds, and will be iterated after use.
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TBD
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TBD
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Development |
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Proprietary Codebase
Details
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Open source with proprietary applications
https://github.com/vechain
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Open Source
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Open source with proprietary applications
The Ripple protocol is open source: https://github.com/ripple . Proprietary work is xCurrent, xRapid, xVia
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General |
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Blockchain / DLT type
Details
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Public
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Not a blockchain. Uses DLT to create transaction efficiencies between permissioned parties rather than the same ledger for the entire network, which R3 Corda believes is inefficient.
https://vimeo.com/205410473
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Permissioned Network, Public Architecture
Ripple uses a decentralized network, but has trusted validator nodes who confirm transactions through the 'last closed ledger'.
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Yes
VeChain exists as a platform to be developed on. Meaning the core features and services can be applied in a number of industries. Some utilizing IoT, some just using the consensus mechanism.
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Less focus on modularity
Focus is on financial applications, but may support more use cases in the future.
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Yes
3 different plug and play offers on top of the protocol layer for specific needs: xCurrent, xRapid, xVia
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50 - 10,000 TPS
50 TPS is currently the maximum. Once VeChain moves to thier mainnet, they plan to scale their TPS to 10,000. This will enable Enterprise level support for financial and sensor data.
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Corda focuses on scaling through reducing inefficiencies in consensus mechanisms. By limiting involvement to just the transacting parties, beneficiaries, and verifiers it aims to position itself as more scalable than PoW
performance considerations https://www.corda.net/2017/12/dlt-performance-considerations/
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1500 TPS with potential of tens of thousands through Ripple Payment Channels
While it does not compare to the tps of a Visa transaction (~150,000), Ripple offers a stable solution for the size it it currently at.
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Depends on implementation
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Varies
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Large
The ledger is constantly refreshed as soon as there is a new input in the network. The last closed ledger model is different from the blockchain, in that there are no history of blocks for the distributed ledger.
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