The Rulebook at Genesis

As you can see in our write ups mentioned above, we do things a little differently around here: We had no venture investors, there is no premine, no foundation with tokens, and anyone with a laptop can participate and earn coins. Here’s a quick reference to the policies implemented at genesis:

Rewards:

  • Rewards are paid at the end of each “Epoch”, daily at 16:00 UTC.
  • The majority of the rewards will go to Validator Nodes, you’ll need a cloud host to be successful at this (you can’t do this with a laptop, and you need to be somewhat technical). Transaction fees are the principal source of rewards, but they can be augmented by Guaranteed Minimum subsidies.

Delay Towers – Implementation on BFT (Pt.3)

TL;DR

Delay towers provide many benefits to BFT networks, including diverse distribution of participants, Sybil resistance, eco-friendliness, determinism, and others. This post delves into one specific implementation of delay towers and its integration with a high-throughput BFT network for bootstrapping purposes, and offers it as a strategy to achieve the goals of a free and fair chain launch.

Context

If you followed the previous parts, you’ll recall that we are using delay towers to bootstrap a new blockchain with the following properties:

  • High-throughput
  • Fast finality time
  • Fair launch
  • Permissionless access
  • Engender decentralization with equitable distribution

A blockchain protocol can use delay towers to establish persistent identity for the nodes as a Sybil resistance mechanism.…

Delay Towers (Pt. 2)

From Puzzle Towers and VDFs to Delay Towers

TL;DR

By extending puzzle towers with VDF, a delay tower becomes a permissionless and non-forgeable identity which is fast to verify. This is a form of sybil resistance, we don’t observe in any other system. A delay tower becomes a permissionless and non-forgeable identity which is fast to verify. These properties make a delay tower unique, scarce, and perhaps valuable in its own right.

Context

The¬†first part¬†introduced puzzle towers for establishing a persistent identity in BFT blockchains. It concluded that using hash puzzles, practiced in PoW, would lead to an arms race in computing power leading to ASICs and mining pools.…

Delay Towers (Pt. 1)

Puzzle Towers for BFT

TL;DR

Puzzle towers may offer a new Sybil resistance technique worth exploring for permissionless environments, especially during network bootstrapping. They offer a glimpse into what a different game for starting a diverse BFT network might look like. However, without modifying the type of work done in a puzzle tower, the advantages given to current PoW miners would make the proposal a non-starter. Alternatives to traditional PoW will be discussed in the following article.

Context

Blockchain systems can leverage Byzantine Fault Tolerant (BFT) protocols to provide high throughput (transactions per second) and faster finalities. Currently, proof of authority (PoA) and proof of stake (PoS) are widely used Sybil resistance mechanisms for BFT networks.…

Delay Towers (Pt. 0)

A high-throughput chain with a fair launch

TL;DR

A fair launch of a high-throughput layer-1 blockchain is happening.

You won’t need to buy anything or otherwise pay a centralized organization for access. The goal is to create a new standard in blockchain bootstrapping through Delay Towers.

There’s a new layer-1 chain that wants to exist. It wants to have these characteristics:

  • High-throughput
  • Faster finality time
  • Fair launch
  • Establishing a persistent identity
  • Permissionless access
  • Engender decentralization
  • Regulatory certainty

Centralized launches of Proof of Stake networks are an unsatisfactory strategy for bootstrapping a community-led public good. No disrespect meant to projects that have launched in such a way, there was just no credible technical alternative, possibly until now.…