Federated Consensus | Table O Contents
The consensus protocol for the Medcoin™ ledger requires the mitigation of many transactional participants with a high rate of transaction throughput performed speedily …
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First Subtitle
Hint. Legacy dependency was exposed in the Great Recession of 2008 when counter-party risk escalated post consummation of 3rd party contracts.
More to come …
Two Coins
One of the coins expected to hit the market in 2025 via Initial Coin Offering or ICO is our Medcoin™ Tangerine Copper coin patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge.
Tangerine Copper
Gold Badge
The other coin expected to hit the market in the year 2025 is our Medcoin™ Gold coin also patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge, as well.
As follows,
The Web of Dependent Trust
In some cases, the web of interconnection was so nebulous, it took four (4) years to unwind just one thirty-three (33) party derivative at a cost of several billion euro.
The Digital Weakness of Common 3rd Party Trust
More to come …
Consensus Ledger
Our research suggests a set of one-hundred (100) federated, validator nodes will be required to cryptographically agree from the side-chain upon the near-immediate finality of a leader commitment.
Premise
Large populations of transactional participants are best served by a production grade protocol that picks at random one of the given one-hundred (100) federated nodes to write the current block of transactions and to assemble the new height of the blockchain.
All other ninety-nine (99) nodes will then test the new height of the blockchain and when the veracity of the new height is confirmed by at least a consensus of fifty-one (51) federated nodes, the next block of transactions may be assigned.
In the event of a tie or fork in the underlying blockchain at similar height, the board of nine (9) foundational overseers will vote at a minimum five (5) to four (4) in favor of a roll back to either fork.
When all nodes are back to 100% agreement, a subsequent rebuild of the block-in-tie to the selected fork will then re-start the progression of the height of the blockchain.
Byzantine Fault Tolerance
At a Byzantine fault rate of three (3) per eleven (11) corresponding to a success rate of one-hundred (100) minus 27.28 = 72.72% …
Slightly less than a 3/4ths majority of responding nodes will be required to validate a transaction for inclusion within a block.
In addition, a board of nine (9) foundational overseers endowed with directional discretion …
In the event an unmitigated auto tie or fork in the underlying blockchain at similar heights does rarely occur …
Shall decide by a simple majority of 5:4 or greater which height of the two or more conflicting heights is selected to perpetuate the underlying blockchain.
Alt Forms O Consensus
As ASIC cores become more prevelant, secure instructions to the CPU can now invoke pure randomness.
Hence, the weight of the leader selection process diminishes.
Therefore, competition gunning for the first-to-market Bitcoin protocol will advance at market share expense to Bitcoin.
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Multiple rounds of explicit votes
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Time consuming
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More to come …
Nakamoto Lottery
Proof O Elapsed Time, or POET is a lottery style algorithm developed by the IBM Sawtooth Hyperledger team.
Proof O Work
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energy intensive
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hardware intensive
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high probability of legacy capture
Interior Strength
Each node in the blockchain will have been initially well vetted ( resources, trusted execution environment ) with the probability of any one concert of nodes amassing the computational power necessary to crack and alter the blockchain at any one given block in time to be nil.
It has been suggested that an increase in the population of validators will increase the robustness of the Medcoin™ consensus algorithm.
How far beyond nil does the probability of nefarious intervention have to traverse?
A federated group of one-hundred (100) validators will suffice.
Exterior Strength
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State of Arizona registration ( pending )
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SEC registration ( pending )
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USPTO registration ( live )
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More to come …
Last Subtitle
More to come …
Note. The above synopsis was derived from an article written by Blank Author [1].
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