CyberVein Competing Against IOTA and Byteball? It’s Not Just That
Recently, a project called CyberVein in the tech circle started to spread. Various technology and are vying to recommend to friends this low-key project (if you haven’t heard of it, please face up to your social circle). Some people say it directly contests against the famous DAG project IOTA and ByteBall, but when you understand CyberVein, you will find that it’s not so simple.
CyberVein mentioned in the whitepaper that its running mechanism is a combination of DAG structure, Proof of Contribution consensus and virtual machine of database. But these are just a part of the CyberVein DAG architecture. CyberVein’s platform can also create your own smart contracts, virtual machine operating database and programming language, even consensus mechanism and innovation.
If comparing the project to a finely decorated building, DAG structure stands for CyberVein’s foundation, database virtual machine is the reinforced concrete building, programming languages and smart contracts are interior decorations in every apartment, Proof of Contribution Consensus is the intelligent entrance guard system of a building!
Starting from here with astonishment, readers are probably starting to question themselves, does CyberVein actually have a benchmarking project at all? Ethereum? But ethereum doesn’t have a database. IOTA and snowball? They don’t have a virtual machine or programming language. EOS? The consensus mechanism of EOS is DPOS, which will generate concentrated hashrate rather than PoC’s absolute fairness!
Further digging into CyberVein, I found CyberVein made some improvements to the existing DAG structure. CyberVein added ordered contract units into existing DAG’s disordered chaotic state, thus ensuring the atomicity and uniformity of DAG structure inside the transaction status, solving the IOTA and Byteball’s denouncing problems. In addition, the new type of interacting smart contracts are benefited by CyberVein’s contract unit concept, so the controversial topic such as cross-chain and cross-ecosystems are coming to reality. How astonishing!
Also, the PoC consensus is definitely everyone’s favorite innovation. Simply speaking, PoC takes account of the quantity of each person’s contribution to the network. Whoever contributes more will have a greater probability of getting rewards from the network. On the other side, the ones who contributed relatively little can obtain their amount corresponding reward rather than PoW’s direct ignorance.
The specific concrete logic in CyberVein is within the increase of data storing in the displaying node on the network, the amount of contribution will increase simultaneously, thus decreasing the difficulty of calculating hash value to gain larger amounts of the transaction fees (CyberVein’s transaction fee has a linearly decreasing mechanism). In CyberVein’s PoC system, although some participants contribution may focus on the head of the long tail effect’s normal curve, the contribution of the distributed participants on the bottom side may overweigh the head, even though the amount every individual contributed are small.
In order to ensure the benefits of the small contribution-making participants, their contribution will gradually increase with time passing, the contribution to the normal distribution curve will then start to form a long “tail”. At the same time, the large and small contributors will counterbalance against each other, thus making the whole network to achieve a fair and balanced state to attract more contributors to involve.
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Images courtesy of CyberVein