Why Blocklist, and How Is It Different From Blockchain?

Unlike traditional bitcoin-like blockchain, where all transactions are compiled in blocks in a single blockchain, block lattice (introduced by Nano) is a collection of multiple blockchains. That’s why we also call it blocklist as that’s how exactly the Lyra node database looks like - a big list (collection in nosql database terms) of blocks. Each user account adds transactions to their own blockchain. Such architecture enables extremely high scalability, instant authorization and settlements, and super light clients. Let’s review them one by one.

High Scalability (large number of tps - transactions per seconds) is achieved because each block contains just a single transaction which is added to a relatively short account blockchain, which allows the authorizer node to complete a processing (either authorization or settlement) of multiple transactions simultaneously, within a very short period of time. Only authorizer and authorizer candidate nodes (see white paper for details) must carry the full blocklist, which means they are dedicated powerhouses of the network. Clients (wallets) don’t need a local node, and they carry only their relatively short blockchains, or no blockchain at all (see the Light Clients section).

Instant Authorizations and Settlements are achieved because each transaction consists of two blocks: send (authorization) and receive (settlement), while each block is authorized individually, returning immediate result to the client. In traditional blockchains, transactions are accumulated in blocks, and blocks are added to the same blockchain, which prolongs both authorization and settlement times to minutes and even hours. Also, any balance in Lyra account is spendable right away - no locked/unlocked balance anymore.

Super Light Clients are possible not just because each client has its own blockchain, but also because each block contains full information about account balance. Unlike traditional blockchains, where transaction is typically compiled from multiple inputs located in various blocks located all over the entire blockchain, only the most recent account block (not the entire blockchain, and not even a single account chain) is required for a Lyra client to process a new transaction. It means no blockchain database is required on the client side, and no scanning of a database located on local or remote node “in the cloud” is required for performing many fundamental client functions (such as payment transaction). Thus, Lyra client can be easily deployed on IoT microdevices and smartcards with limited CPU performance and storage space.

WHAT IS LYRA?
Lyra is a technologically advanced crypto token issuance blockchain and processing platform, which allows merchants, governments, and individuals to create custom tokens that can be accepted by others in a closed-loop environments, or at the point of sale together with cryptocurrencies and fiat methods of payment.

MAIN FEATURES
Lyra was designed and developed from scratch using the latest techniques in blockchain design to solve the speed, size, and throughput (TPS) limitations.

DAG-style chain collection / blocklist architecture
Eliminates the need for large size blockchains. The blockchain is distributed among clients (hence the name “blocklist”).

Super Light
Clients / WalletsThanks to blocklist architecture, the client doesn’t need to keep a copy of the entire blockchain – just their own blocks (in many cases only very last block), making it possible to have a wallet implementation that doesn’t require cloud or web wallets, permanent connectivity or massive local storage. As an example of wallet’s efficientcy, we have successfully implemented the complete stand-alone wallet on Raspberry Pi.

Fungible and Non-fungible Tokens
The tokens can be both indistinguishable and unique (personalized). In fact, there are uses for both inside most applications, with transition from fungible to non-fungible at the time of redemption. Example: fungible reward tokens (as accumulated loyalty points) and non-fungible discount/gift tokens (as loyalty reward redemption mechanism).
 
Pre-programmed Smart Contracts
No Programming Needed – creation of new token takes just a few moments. Each token type is pre-programmed for particular use case. User just enters simple configuration parameters.

Instant Transactions
It always takes less than a few seconds to process a transaction with Lyra, making it compatible with point-of-sale environment where guaranteed speed of transaction is a requirement.

Built-in Instant Token Exchange Capability
Atomic swap based token exchanges are built in, allowing for instant token exchanges, which is critical for various situations such as redemptions and and loyalty program partnerships.

Compatible with Point of Sale
Lyra Tokens Blockchain leverages point of sale integration from GRAFT.Network payment platform project and facilitates paying with tokens at the point of sale via certified integration with payment terminals (Verifone, Ingenico, others)

Flexible Transaction Fee Structure
Most blockchains have built-in hardcoded fee mechanism with a sender paying the fees. Lyra has a flexible mechanism when the fee can be paid by the sender, the recipient, or both sides, depending on the transaction type and other configuration parameters. This flexibility enables implementing various use cases that would be impossible with traditional fee structure.

Permissionless or Permissioned
Lyra blocklist can run in various configurations – permissionless or permissioned, decentralized or centralized, public or proprietary – depending on the use case. Contact the team if you are interested in running a proprietary Lyra network


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