WHY PHAETON BLOCKCHAIN MAKES FOR A BETTER OPTION THAN EOS, ADA AND POLKADOT.
Why yet another blockchain when we already have the likes of EOS, ADA and Polkadot out there? And how is Phaeton going to add value to an ecosystem which looks crowded with too many?
Well, let us answer this seemingly perpetual question today. Phaeton is a futuristic blockchain that scores over many top-line platforms of today for scalability and interoperability. Taking advantage of advanced sidechains and smart contracts on Phaeton, any blockchain-based project can build highly scalable dApps. Here are the features that make Phaeton stand out among peers:
Interoperability to improve accessibility
Interoperability is the possibility of disparate blockchain systems communicating with each other without any intermediary. In a blockchain world where the success of enterprises depends to an extent on collaboration and interaction, interoperability becomes crucial. It helps realize the full potential of enterprise blockchain, facilitating seamless information sharing and a more user-friendly experience. The interoperability mechanism supports functionalities such as initiating transactions on other networks, integrating with other systems, transacting between deployments on the same chain, and switching one underlying platform for another.
Advanced sidechains
Side-chains, as the name indicates, are sidechains linked to the main blockchain. Transactions occur on the sidechains, and at predetermined intervals or events, these are moved to the blockchain forming the foundation. Thanks to the 2-way peg, the traffic between the main blockchain and the sidechains can be moved both ways, bringing benefits like more scalability, lesser network congestion, and lower transaction fees. Phaeton introduces its version of sidechains, making it a viable solution. In addition, these sidechains facilitate an interoperable network and address security concerns effectively.
A public or private blockchain network
The Phaeton platform offers you access to a public blockchain that anyone can join and access. At the same time, Phaeton allows you to create a private network using sidechains. You may also opt for a hybrid network as the sidechains are linked to the main blockchain, creating a hybrid network. Depending on the end-goals, a project might choose to go public, private, or hybrid. Phaeton offers this unique protocol to suit business individual needs and requirements, leaving our competitors behind.
DPoS making blockchain secure and easily scalable
Phaeton has chosen delegated proof of stake (DPoS) as a consensus mechanism to support public, private, and hybrid blockchains effectively. A refined version of the more popular Proof of Stake (PoS) can be tweaked in line with the specific requirements. It helps secure the ecosystem and quickly scale it up or down. A DPoS-backed Phaeton blockchain has good protection from double-spending and doesn’t require loads of power to run the network. DPoS is mainly independent of the computing power on the network, making it more scalable. The mechanism segregates the election of block producers from block production, paving the way for more creative models for solving problems.
A truly decentralized governance model
Lesser staking amount required by a node, makes a DPoS-backed network financially inclusive and more democratic. The mechanism provides a critical foundation for implementing applicable governance models in blockchain applications. Low entry threshold because of the set-up encourages more people to participate, providing more decentralization, an essential component of system security.
Hashing algorithm
The hashing algorithm Phaeton blockchain uses faster than well-known alternatives like MD5, SHA-3, and many others. Parallelizable on a multi-core architecture, it fends the system against extension attacks. DPoS consensus, along with this hashing algorithm, takes Phaeton at a different pedestal as a blockchain ecosystem.
BLAKE3 is a recent evolution of the BLAKE cryptographic hash function. It was created by Jack O’Connor, Jean-Philippe Aumasson, Samuel Neves, and Zooko Wilcox-O’Hearn. BLAKE3 combines general-purpose cryptographic tree hash bao with BLAKE2 to significantly improve SHA-1, SHA-2, SHA-3, and BLAKE2. BLAKE3 splits its input into 1 KiB chunks similar to the leaves of a binary tree. Each chunk is compressed independently, so the degree of parallelism is equal to the number of chunks.
It means that BLAKE3 can leverage SIMD instructions’ inherent parallelism on modern CPUs, which delivers a better understanding of its execution. BLAKE3’s authors published a benchmark on an Intel Cascade Lake-SP 8275CL processor showing it to be 5x faster than BLAKE2 and 15x faster than SHA3–256.
Wrapping up
Parameters such as interoperability, advanced sidechains, public/private/hybrid ecosystem, DPoS consensus, and incomparable hashing algorithm give Phaeton blockchain a decisive walkover over competitors. Thus, when you call for a blockchain ecosystem that makes a perfect foundation for your project, Phaeton sits there right at the top of the group.
For more information contact: hello@phaeton.io
