Atlas City Releases New Research Paper Describing a Scalable Consensus Mechanism for Public Blockchains
Atlas City Global (atlascity.io) is building the Catalyst Network (catalystnet.org) — a full stack of decentralised technologies for the next generation of web apps
LONDON, Sept. 5, 2019 /PRNewswire/ -- Atlas City Global is today introducing research (see below) describing a consensus mechanism that breaks new ground in achieving efficient and secure consensus in a public distributed ledger at scale, while achieving fair distribution of work and reward amongst participants.
Coded from scratch to resolve the challenges of providing fast and inexpensive services while enabling users to take control of their identity, Catalyst:
- Supports confidential and non-confidential transactions in the same network
- Ensures security by the random selection of nodes issuing and verifying ledger updates from a large number of participants
- Requires verifiers perform only work that is of value to the network ensuring a sustainable, environmentally friendly protocol and universal access by all types of devices, including IoT.
Other core features of Catalyst that provide enhanced / new levels of flexibility for enterprise use include:
- Containerised smart contracts allowing for the easy migration of existing applications and development of new applications
- Integrated file storage to achieve fast and scalable consensus and store data in a more secure distributed framework.
Written in C#, Catalyst provides .Net Core cross-platform compatibility and multi-language smart contracts. It is open and accessible to all .NET developers without investing time and money learning new languages. By joining the Catalyst community, developers have the opportunity to be a part of the decentralised computing revolution bringing DLT to the enterprise market and serving as the backbone of Web 3.0. The Catalyst Early Access Program will provide access to the Catalyst Network Github and include weekly stand-ups with the Catalyst core team.
At the heart of Catalyst is a genuinely innovative consensus protocol — neither proof-of-work, nor proof-of-stake — whereby nodes collectively update the ledger state by following a phased decentralised voting approach that achieves very strong security with no risk of centralising the decision-making process. Application developers can learn more about the relevant technical characteristics of the network by reading the Introduction to the Catalyst Network.
Today we are releasing the consensus protocol paper from the research team at Atlas City Global, which is one of the research papers feeding into the Catalyst Core Protocol engineering team. The engineering team will publish the technical blueprint for the implemented consensus protocol for the Catalyst Network in due course.
Additional information / Notes to editors
About Atlas City (http://atlascity.io/)
Atlas City's mission is to enable a decentralised web owned and run by the community to enable the next wave of business models. To that end, they are building a full stack decentralised, distributed system that is fast, supports multiple coding languages, has integrated distributed file storage, works with IoT devices in industry and meets throughput requirements for financial services. The Catalyst Network is a new distributed ledger protocol, a full suite of integrated technologies, not forked, but written from scratch based on the lessons learned from previous generations of blockchains. In addition to being light-weight and eco-friendly, it has an innovative, efficient consensus mechanism, which allows for fair compensation for participation and a file storage system allowing the network and consensus to integrate and work with all types of files. Atlas City will be launching the Catalyst Network as an open source project later in 2019 and will support the growth of the ecosystem by providing software development tools, distributed application development and private instances for industry-specific applications to enterprises. Atlas City is currently running a number of proof-of-concepts and pilot projects on the Catalyst Network in the fields of supply chain, utilities, food provenance, plastics recycling, and the energy sector.
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SOURCE Atlas City Global
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