There are multiple reasons that set Libonomy apart from any other similar technology — Janis Aperjots, operations manager at Libonomy
The best if we categorize them:
· Scalability
· Security
· Usability
We are introducing a completely new multi-layer consensus engine; by utilizing AI within the core we are able to not only optimize the consensus process, but also highly improve security.
Scalability is affected by multiple factors, we want to point out few that are highly important in our opinion – how fast is the network, how well the technology works with other similar ones and how good is the setup for future adoptions. Thanks to multi-pool consensus, as well as other algorithms like gossip mechanism and sharding protocol we are able to reach very high base TPS (around 6000). Our introduced interoperability isn’t just allowing intercommunication between different public blockchains, but between different public and private chains as well. Lastly, Libonomy is an autonomous blockchain, meaning that any sort of optimization on the chain can be executed automatically by the AI engine without any interaction required. Parameters like block size can be dynamically adjusted if determined as necessary by the AI engine to improve the throughput of the blockchain; this is detrimental for the future adoption.
There are multiple levels of security, one that is very unique to us is that AI learns, improves and constantly tries to predict security issues by penetrating the blockchain, if any issues are found, an upgrade is issued. Pooling system also plays a huge role in the security of the blockchain, we are introducing Exploit-Finding and Audit Nodes that have a sole task of ensuring that processes are carried out correctly. And, even though roughly 1 out of 20 smart contracts are vulnerable to penetration, it is still one of more popular use cases for blockchain technology; so, we are proposing an in-built smart contract debugging feature, that will allow to spot out the security issues much easier.
We wanted to build a blockchain thinking about both developers and consumers, so we are offering features for both sides. We are also introducing a completely new application layer that will consist of smart contracts, decentralized applications and coding-language independent SDK. Initially we’ll have support for JavaScript and C++, but more will be added in future upgrades. With our interoperability we are able to enforce cross-chain decentralized applications as well as multi-currency wallet. And, there are multiple factors how AI influences setup time, security and future expansions for private blockchains.
Find out more: Libonomy.com
