WAVES PRETENDS TO CARRY OUT 1,000 TRANSACTIONS IN 1.3 MINUTES AFTER HER HARDFORK

The Waves blockchain platform launched its new Waves-NG consensus algorithm in its main network, a strong bifurcation that seeks to overcome the scalability challenges faced by all the blockchain that pretend to be ready for the mass adoption of companies. and the miners in your network will be able to vote for consensus from next week.

According to the statement, the strong bifurcation will be made once the nodes of the chain are updated with Waves-NG and at least 80% of the computational capacity of the network has approved the fork. To do this, the miners may begin to signal the approval of the fork from block 795,000 that is estimated to occur at noon on next Friday, December 15 (GMT time + 0, 4:00 PM Venezuela time).

By December 18 - three and a half days later - after 5,000 blocks mined, the protocol will verify the number of miners who accepted the fork with the new features, using a protocol called "Waves Activation Protocol", developed to carry the process "in a safe and predictable manner," according to the official Waves statement. If approved, Waves-GN will be activated before Christmas, on December 22; launch that would come with the update of the digital wallet.

It should be noted that the Waves-NG network project is a proposal that aims to make Waves compete with the processors of the traditional financial market, in the face of fast processing of transactions and the ability to process high transaction loads per second.

Waves-NG is based on the Bitcoin-NG consensus proposal by Emin Gün Sirer and Ittay Eyal; and proposes to minimize the latency and maximize the performance, working with transactions in several sections or "microblocks".

The idea is that the microblocks divide the processing time into "epochs", so that the leader miner is responsible for enumerating transactions and distributing information efficiently. A new form of processing that would result in nodes generated only when the previous one was finished, which would lead to less work tests.

The Waves update aims to carry out 1,000 transactions in 1.3 minutes, since the scalability in the number of transactions processed is necessary to massify the adoption of distributed accounting technology in the financial environment.

#news #new #blog #community #technology #venezuela #steemit #steem #life #red #history #story