"With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless."
-Satoshi Nakamoto
The world is still waiting on a decentralized, secure, and scalable digital currency.
"In a fully asynchronous message-passing distributed system, in which at least one process may have a crash failure, it has been proven in the famous 1985 FLP impossibility result by Fischer, Lynch and Paterson that a deterministic algorithm for achieving consensus is impossible."
https://t.co/P4aTeD0CMq
@QuaiNetwork's novel Proof-of-Entropy-Minima algorithm practically breaks the FLP impossibility theorem. The only instance in which PoEM can not offer deterministic head selection is in the case of a near-simultaneous hash collision. When using a 2^256 bit field, two machines simultaneously finding the same hash while mining becomes an extreme statistical improbability.
When @mechanikalk says that PoEM alters the concept of consensus entirely, he means it. 👀
April PoEM Testing Updates:
➡️Globally distributed testing environment
➡️Real-world latency
➡️Running for days at a time
Results:
➡️Perpetual consensus
➡️~275 TPS per execution shard
➡️Sustained coordination of 9 shards
Read more in the Quai blog👇
https://t.co/HjxoKPvo85