Sparkster - the future of blockchain transactions

in #ico6 years ago (edited)

We are all aware of the incredible potential that cryptocurrency world presents to us. The speed of transfer, the safety of finance, the possibility of programming and conditioning our transactions, non-changeable ledger in the authority of exclusively decentralized network powered by mining machines, the removal of trust for transfers and transactions and if you think that this phrase sentence is too long this list goes on and on. So far there are some coins and tokens that are most accepted such as bitcoin and ethereum (ether) but they all come with a fatal flaw that impairs mass adoption and usage of these wonderful protocols. They are hardly scalable at all. At bitcoin’s speed of 3.3 to 7 transactions per second (tps) and ether of approximately 15 tsp we can hardly do anything meaningful besides money value transfer. Remember the cryptokitties? (For bitcoin and ether we are going to have to wait for lightning network and sharding and plasma.)

To make a comparison MasterCard handles more than 160 million transactions per second with response of 0.13 seconds. And Visa has proven their 4000tps. There are some sources that claim that both Visa and MasterCard may perform around 50 – 60,000 transactions per second but these are only for money transfers. Whichever is the case we need cryptocurrency transactions to scale over 1,000,000 tps because the work that requires to be done exceeds the need for only money transfers we already have with Visa and MasterCard. There are many that are trying to accomplish this (Zilliqa, Neo…) and some have shown progress and others are still in the ICO phase. One of them is called Sparkster.

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Sparkster has the vision to create a service platform that will enable building software/smart contracts without needing to have programming skills instead using simple puzzle logic and run that on a decentralized cloud supporting more than 10 million tps. Sparkster luckily knows the secret of every truly successful business which is marketing. Simply, with enough marketing people tend to use the marketed product over competition and this is one of the Sparkster's well thought weapons at least in the ICO. There is also an organic reason why the hype for this project is rising. They presented their minimum viable product for building software (without having to know how to code) and performed a public demonstration of 50,000 transactions per second on June 1st 2018 live streaming via their official youtube channel.

The Sparkster team made this number of transactions possible by further compartmentalizing the network of their protocol and instead of forcing one network to compute and produce a high number of transactions per second they have made a network of blockchains that comprise into one designed to access all others. This is made possible by usage of cells. Each cell provides around 1000 transactions per second and there are up to 100 cells in their demonstration. The content of every cell is easily accessible via hashgraphing using the known Consistent hashing algorithm but one cell does not know what happens in other cells which is not something that is needed for this blockchain to operate. The idea is very simple and it is using the existing technology to operate which makes it immediately usable. As the capacity for transactions for each cell blockchain eventually grows the capacity of the whole network will be multiplied many times. What sparkster is going to do is 10 million transactions per second. Quite amazing, isn't it?

The public demo video on both of these mvps may be found here:


(Transactions part start at around 15 minutes and coding
is shown at around 34 minutes of the video.)

Steemit:
https://steemit.com/@sparkster
Sparkster website:
https://sparkster.me
Whitepaper:
https://drive.google.com/file/d/1_341kbDEDc9PWn4lbsCGpAmcqDqcggUq/view
Bitcointalk thread:
https://bitcointalk.org/index.php?topic=4350911.0
Bitcointalk profile: elektrikdinar

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