Just 2 months after announcing the end of the $ 3.6 million presale, Alephium is releasing its long-awaited sharding-based blockchain, its long-awaited solution on the mainnet, secure smart contracts security, scalability and energy efficiency for its core technologies Bitcoin offers.
Cheng Wang, Alephium Core Developer, said: “After more than 3 years of development, we are proud to announce the launch of the Alephium Mainnet. It is designed to support powerful, scalable, yet easy-to-use distributed applications and protocols. We welcome the community of developers and miners to join us in improving the ecosystem one by one. “
Mr. Wang added:
“Alephium offers a completely new programming model for decentralized applications, ideally suited for performance and safety-oriented DeFI. By leveraging Alephium’s custom virtual machine, DApps can now benefit from the security of the stateful UTXO model without compromising the performance and meaningfulness of smart contracts. “
More specifically, Cheng Wang’s idea project proposes a unique approach to processing tens of thousands of transactions per second (more than 10,000 TPS) in an open, permissionless network.
The amount of blockchain innovations on the Alephium mainnet is impressive. The Alephium blockchain is powered by the unique BlockFlow sharding architecture based on stateful UTXO transactions. Natural, one-step shard cross transactions ensure that Alephium is as easy to use as a single blockchain while distributing the transaction load.
Alephium’s BlockFlow core algorithm combines sharding technology with a Guided Ring Graph (DAG) and uses a scalable UTXO model to improve network performance in shard cross transactions. The solution breaks smart contracts down into token and data logs and ultimately retains the same user experience as with single-chain platforms.
Based on stateful UTXO transactions, developers can create dApps that adapt to scenarios with high parallelism and at the same time improve the full functionality of smart contracts. This approach is transforming the Bitcoin-like blockchain to include innovations such as DeFi, NFTs, and IoT, among others.
Alephium is now using a modified version of the Proof of Work consensus by Satoshi Nakamoto to ensure, among other things, a significant reduction in CO2 emissions.
Known as the “Proof of Less Work,” the algorithm uses a combination of physical work and token economy to dynamically adjust the resources required to mine new blocks while allowing everyone to contribute to their consensus and security.
Most importantly, the stateful UTXO model combines the benefits of both the UTXO model and the account model while allowing multiple participants to be grouped and called in a single smart contract transaction to enable trusted P2P smart contracts . This new virtual machine is designed to solve many of the critical problems of the current dApps platform, with higher performance and additional elements to protect against security attacks.
The mainnet launch comes just two months after Alephium pre-sold tokens valued at over $ 3.6 million to nearly 80 different investors. Led by Alphemy Capital, a number of renowned VC funds, including White Paper Capital and Archery Blockchain, as well as a large number of small buyers bought the token during the pre-sale.
Mr. Wang added on the mainnet:
“Alephium offers a completely new programming model for decentralized applications, ideally suited for performance and safety-oriented DeFI. By leveraging Alephium’s custom virtual machine, DApps can now benefit from the security of the stateful UTXO model without compromising the performance and meaningfulness of smart contracts. “
Alephium is the first active shard blockchain that brings scalability, ETH-inspired smart contracts and Dapps capabilities to Bitcoin’s proven core technologies while ensuring better performance and improving energy efficiency. Alephium also focuses on ease of use and accessibility, making it the perfect platform to support decentralized applications and open protocols.
Alephium apparently solves these scalability problems through a two-tier sharding model that greatly reduces the transaction load on each node. In particular, it reduces the usual two steps required for shard cross transactions.
As a result, Alephium will move away from the classic PoW mining model and reduce the energy used to create new blocks. And with the immutability and atomicity of UTXO, secure smart contracts and new virtual machines help prevent parallel malicious spending.
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