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Security |
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"Block Security Protocol" (BSP)
Employs a BSP to implement the signature function on each data bock during PoA cosnensus. Only the blocks with authorized signatures can be mined and accepted.
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Data is only shared between parties involved in the transaction, verifiers, and permissioned observers. This allows an extra layer of security from traditional DLT where the data is spread throughout the network.
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No data encryption or channel partition and is public.
Merkle Patricia Trie Data structure
Data and contracts in Ethereum are encoded but not encrypted and all data is public - therefore all sensitive data should be encrypted locally and hash stored to prove authenticity.
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Permissioned Aspects
Only permissioned parties can view the raw transactional data stored in the public blockchain. To all others, it will be hashed and secured.
Anyone can become a node, but there is a hard cap of 101 Authority Nodes. It requires a great deal of transparency and public capital to become a node.
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Permissioned
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Permissionless
Anyone can download the protocol and validate transactions making it less secure
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Yes
Transaction Data Privacy Protocol (TxDP): Ensures privacy of transaction data.
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Privacy concerns are addressed through the pluggable uniqueness services, and restriction of viewing transactions.
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Limited (zk-SNARKs, Ring signatures)
Privacy in this public permissionless network has been limited. Since the Metropolis hard fork, it became possible to integrate more cryptographic operations in smart contracts - two kinds of technologies are implemented: zk-SNARKs and Ring Signatures.
‘Zero-knowledge’ proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself.
Ring Signatures are a cryptographic technology first introduced in 2001. It enables any member of a group of users to perform a digital signature, that can be proven to be made by a member of this group, while it is impossible to determine by which member of the group.
https://btcmanager.com/good-news-privacy-bitcoin-ethereum/
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Algorithms |
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Proof of Authority
Consists of 101 Authority Nodes that are controlled by separate, self-interested entities. Due to the variety of companies, this will secure the network and ensure a trustless environment. PoA allows for a higher number of TPS than PoW and PoS, meaning VeChain can support up to 10,000 TPS.
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Notaries - Pluggable Framework, Validity consensus and Uniqueness consensus
transaction validity and transaction uniqueness.
https://docs.corda.net/key-concepts-consensus.html
Corda uses special Notary Nodes to reach consensus. Notaries are nodes that specifically address double spend attempts.
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PoW & PoS
Proof of work (PoW) + PoS-based public blockchains in Ethereums upcoming Casper implementation. Opposed to the PoW consensus protocol, the PoS protocol achieves consensus through stakers, sometimes referred to as minters who “stake” their coins by locking them down in specialized wallets. With stakers at work, mining will become redundant, meaning the Ethereum network post-Casper will rely on stakers and staking pools instead of miners for its operability.
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Efficiency |
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No data
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Fast
Built for financial applications
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Moderate
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Block Confirmation Time
Details
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Fast
Set during launch at 10 seconds, and will be iterated after use.
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TBD
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~12 blocks
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Development |
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Proprietary Codebase
Details
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Open source with proprietary applications
https://github.com/vechain
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Open Source
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Open Source
https://github.com/ethereum/
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General |
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Blockchain / DLT type
Details
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Public
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Not a blockchain. Uses DLT to create transaction efficiencies between permissioned parties rather than the same ledger for the entire network, which R3 Corda believes is inefficient.
https://vimeo.com/205410473
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Public with Private Forks
Ethereum can be a public or private blockchain. The Ethereum Main network is obviously a public blockchain, but with increasing enterprise-focus a number of projects and consortiums (Ethereum Aliiance) have been launched that develop private blockchains (e.g. Quorum)
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Yes
VeChain exists as a platform to be developed on. Meaning the core features and services can be applied in a number of industries. Some utilizing IoT, some just using the consensus mechanism.
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Less focus on modularity
Focus is on financial applications, but may support more use cases in the future.
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Generic, with DApp and Smart Contract support for wider applications
For Ethereum it is not modularity that stands out but the provision of a generic platform suitable for various types of transactions and applications
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50 - 10,000 TPS
50 TPS is currently the maximum. Once VeChain moves to thier mainnet, they plan to scale their TPS to 10,000. This will enable Enterprise level support for financial and sensor data.
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Corda focuses on scaling through reducing inefficiencies in consensus mechanisms. By limiting involvement to just the transacting parties, beneficiaries, and verifiers it aims to position itself as more scalable than PoW
performance considerations https://www.corda.net/2017/12/dlt-performance-considerations/
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limited by PoW
currently supports a maximum of 15 TPS
designed for public networks, limited by Proof of Work (PoW) consensus
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Depends on implementation
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Varies
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Varies
https://bitinfocharts.com/comparison/size-eth.html#3m
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