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September 12, 2019, 07:07:01 AM |
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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.
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