A new blockchain project on the essentials of distributed systems is about to be launched by Cornell professor. Elaine Shi announced this development at the ongoing Devcon 3 summit for ethereum. She explains the forthcoming work is based on thunderella protocol. The project addresses the limitation of block chain in accepting more number of users. This work is named as Thunder token.
The Concept Of Thunder Token:
Shi announced that thunder token may be able to attain speeds 1,000x more than the current technologies. To add to this, it does not depend on blockchain fully unlike other upcoming projects.
In conventional blockchain systems, for transactions to take place the blocks need to be validated first. This process is time consuming, around 10 minutes per block in bitcoin.
In the new technique, Shi reveals thunder token a fast and scalable protocol, which is the vision of many large scale organizations.
At present the blockchain consortiums like R3 and Hyperledger are moving ahead to create structures personalized for large scale formats. This doesn’t mean that the underlying protocols are being focused for improvisation.
The core protocol in thunder token offers split set up for executing the transactions quickly; use of blockchain is only in emergency. In the remaining times thunder token takes a less conversant method – An arrangement of agents that trails the “leader” directions to vote on dealings made as per the protocol.
Shi explains this design to be a simple and tough technique as a blockchain, but this comes with confirmations of transactions under a second and also secure.
The thunder token proposal is just incorporated and is still in the rudimentary stage, it’s too early to say if this protocol is private or can be made available to the public. There is no roadmap for the project yet nor a mention in any live website.
The idea is new and still basic, Shi is sure that this project is worth to watch when it moves towards fruition.