The world is full of radical choices, and we must accept it as an inevitable reality. For example, if you must deliver a sum of money, you have a choice: go in a sports car and complete the task as fast as possible or rather choose security and safety while sacrificing the speed of delivery. In this case, you would do better to order a delivery in an armoured vehicle used by banks.
A similar dilemma is present in the blockchain industry. At present, there are two radically different approaches to storing transaction information in distributed ledgers:
– as blocks – known as blockchain (such as Bitcoin or Ethereum)
– as a Directed Acyclic Graph, or DAG (IOTA, Byteball, Universa).
Just like in our car example, the advantages of the first option (that is, blockchain) are its high levels of reliability and security, which are achieved by mirroring 100% of the ledger by all the nodes connected to a network. The flip side of this approach is the need to sacrifice speed and scaling potential.
By contrast, DAG has no blocks, and each incoming transaction is linked to one or more of the preceding ones. As a result, ledgers of the second type can process vast amounts of transaction data at a very high speed, but there are well-grounded concerns over their security.
Many schools of Oriental philosophy teach us that issues are best solved not by a violent conflict of extremes, but rather in masterfully combining these extremes. This strategy of sensible balance of seemingly conflicting entities can produce the perfect harmony of yin and yang.
Searching for such a perfect solution, our engineers have managed to merge the two approaches by applying – for the first time – the HyperDAG mathematical model. The key difference between this hybrid method and the original DAG lies in the fact that incoming transactions can now link not only to one of the earlier transactions, but also to a group of transactions (which make part of a block). As a result, HyperDAG successfully combines the advantages of both methods and avoids their drawbacks: it processes thousands of transactions a second and is extremely well protected against attacks. Its design makes it possible to create various sidechains within the same network and efficiently use the sharding technology.
These are not just enticing promises and ambitious claims, however. We are pleased to announce the first release of our system: now any interested individual will be able to see how our hybrid blockchain model works. Moreover, in the second half of March we will open access to our testnet, which already has operational hypergraphs.
Who are we?
Now is a good moment to present ourselves. Enecuum is a completely new type of blockchain built from scratch. Along with developing existing ideas, it implements a range of completely new technologies, with the potential to transform the industry.
While describing our exciting innovations, we should not lose sight of the project’s key purpose: Enecuum is aiming to solve practical tasks, including those of the real segment of the economy. For instance, it will feature a convenient API for fast integration with existing business processes.
Of course, in this short introduction we’ve had to leave out a great number of details and facts about Enecuum. You can learn more about Enecuum on our official website enecuum.com, or look out for our article in the next publication of ICO Crowd Magazine.