Public blockchain platform provider ThunderCore has just released proof-of-concept code for a new consensus protocol, dubbed Pala, on GitHub.
In layman terms, for blockchains that use a system of block creation and transaction validation known as proof-of-stake, Pala is way in which to switch out certain bad actors from the network without sacrificing speed or liveness.
ThunderCore was previously reported by VentureBeat to have raised $50 million in their pursuit of a highly-scalable PoS blockchain.
The startup's public blockchain network, also called ThunderCore, launched this month and is fully compatible with applications running on the world's second largest blockchain platform, ethereum.
The ThunderCore blockchain also leverages the ethereum network for chain finality.
On the newly released ThunderCore blockchain, bad actors in the PoS system are detected and switched out by leveraging finality on the ethereum blockchain.
The ethereum blockchain essentially acts as a network for the ThunderCore blockchain to fall back on should consensus be broken.
Confirmations of blocks and transactions on the ethereum blockchain takes roughly 10 minutes to generate, according to Shi.
With Pala, ThunderCore is able to rotate out bad actors without touching the "Fallback" chain.
"Open-sourcing the Pala protocol is an important milestone for us. It means other projects can use the protocol for other blockchain platforms if they need fast consensus."
Blockchain Project Thundercore Releases Code for 'Pala' Consensus Protocol
Published on May 15, 2019
by Coindesk | Published on Coinage
Mentioned in this article
DeFi exchange Uniswap records $20 million in trades last week
Ryan Sean Adams, the Founder of cryptoasset investment firm Mythos Capital, revealed via Twitter that Uniswap, a permissionless, peer-to-peer crypto exchange protocol, recorded approximately $20 million in trading volume last week.
Rep. Eric Swalwell Is Accepting Crypto Donations in Bid for US Presidency
Rep. Eric Swalwell is accepting donations in cryptocurrencies to support his bid for the U.S. presidency in 2020.
DeFi Pioneer Compound Partners With Coinbase Wallet, Zerion for V2 Launch
HODLers looking for returns on their crypto now have more flexibility in the Compound app.
Decentralized Domain Registry Raises $4 Million From Draper, Boost VC
A blockchain startup is bringing the fight for free speech to the domain level.