In ABEY 3. 0, we adopt these specific steps in the optimization process:.
05 Sep 2022, 09:44
In ABEY 3.0, we adopt these specific steps in the optimization process:
● Preparing: convert all transactions to “message” type;
● Grouping: group transactions according to associated address;
● Executing: execute each transaction group in parallel;
● Check for conflicts: check whether the transaction groups are in conflict according to returned results. If there is a conflict, roll back the conflicting transactions, then regroup and re-execute; and
● Collect results: collect the execution results of each group, update the tree, and generate the state root.
With the above methods, all transaction-related issues in parallel transactions can be resolved. It is now feasible to accurately group and execute transactions in parallel to improve transaction execution efficiency.
3. The shift to DPoS sets the stage for“sharding”to vastly improve throughput.
This innovation will significantly improve the scability of the ABEYCHAIN network.
Sharding allows the ABEY blockchain to be broken up into smaller pieces called “shards.” These shards act as semi-autonomous fragments of the main blockchain and can process transactions on their own. With sharding, ABEYCHAIN’s TPS (transactions per second) is estimated to increase to 100,000.
4. DPoS is much more environmentally friendly.
As opposed to POW, which relies on computer power, DPoS greatly reduces the energy consumption because the blockchains rely on collateral to achieve consensus. The ABEY Foundation estimates that a purely DDPoS ABEYCHAIN blockchain could use approximately 90% less energy than the PoW + DPoS system it was previously built on.
This is good news for current ABEY holders (including institutions with strong ESG mandates) who have reservations about being associated with an asset class that has become synonymous with excessive energy usage. Once it is demonstrated that the ABEYCHAIN operates on a significantly lower energy consumption after the transition to DPoS, it is possible that venture capitalists and institutional investors will be interested in attracted to investing in the project.
Changes to ABEY’s tokenomics and reward distribution:
As a result of this upgrade, the total ABEY token supply will decrease from the current supply of 3,000,000,000 down to 1,419,297,400.
All future ABEY tokens will be generated as DPoS staking rewards after September 1, 2022. Reward distribution will halve every 4 years, until the year 2040.
Conclusions & future directions:
We formally introduced the ABEY 3.0 DPoS Consensus protocol and its implementation along with plausible speculations on September 1, 2022. Below are various new concepts we will detail very soon.
• We intend to support sharding for the DPoS committee nodes, for scalability.
• We intend to address the storage issue for high TPS public chains and introduced a method that seamlessly merge transaction process with decentralized data storage.
• A intend to implement a compensation infrastructure, which accounts for node configuration non-uniformity (different CPU/memory/network bandwidth in the node pool), to be a part of the consensus, thus speeding up transactions.
• The resulting smart contracts execution would only happen in AVM (BFT node).