Notes On Ava Network -1

simonx (35)in #ava • 4 years ago (edited)

In this article, I do not intend to write about the history of Blockchain technology. Because anyone who knows a piece of Blockchain technology has some common knowledge. Its decentralized structure, its transparency, the fact that the information on it cannot be changed is one of the things we all know. This technology, which is still in its infancy, is making serious changes in many areas, especially in finance, and is transforming in almost every aspect of life. However, as we all know, it is common for technology with such a short history to encounter some problems in everyday life, in other words, in the transition from theory to practice.
The recognition of Blockchain technology has been identified with cryptocurrencies called Bitcoin wherever it is. Because the data in the blockchain are transferred to the other party through other validators on the network. In this process called mining, the first person to solve the blockchain algorithm receives the prize. This necessitates active work, not actively working in any way can win awards. Because the reward is given to the first person to solve the block, the chances of the one with the higher processing power are much greater. Serious equipment investment and high energy use are needed for high processing power. There are two major drawbacks to this. High energy use leads to the growth of environmental problems in the world (especially global warming). Another important drawback is that mining farms with high processing power equipment receive the most important part of the Rewards, which contradicts the decentralized nature of the blockchain. In this mining system called PoW, the equipment investment is very expensive and PoW mining can be done with chips called ASIC.

In a transaction verification system called PoS, which works differently than this type of mining, the investor earns as much money as the coin he keeps in his wallet. The longer the participant keeps a large number of coins in the wallet on the network, the more prizes they win. In this process, which is not even considered mining in the classical sense, the person earns money as a reward for participating in the operation of the network by holding coins in his wallet. How much more coins are in the wallet on the participating network; the longer he holds it, the more he wins the prize. As with PoW system, the number of nodes participating in the network increases, so that the transactions become difficult and earnings decrease is not the case. Conversely, the reward system encourages more people to join the network. This process uses much lower energy cannot even be considered mining. PoS, which emerged as an alternative mining system in 2012, is preparing to switch over to the POW system where the ETH board is located. The vast majority of newly issued coins work on the PoS system wherever they are.

Following the analysis of the PoW (Prof of work) and PoS (Prof of Stake) systems, Cornell University professor Emin Gun Sirer announced Athereum, a friendly fork of Etherum, at the Ethereum developer conference Devcon 5 in Japan. These Blockchain applications, which could be called first and second-generation according to the founding team of the AVA platform, are no longer able to meet the need. Because there are significant deficiencies in both generations. It is possible to list these deficiencies and problems as follows::
Scalability: it would be more understandable to simply explain this situation as follows. Let's say you've implemented software. You have customers who buy and use your software. The satisfaction you receive from your customers tells you about the performance of your application. If the returns are very good, the performance of your application is good. If it's bad, things aren't getting better. Naturally, when measuring the scalability of the system, the percentage of the time the system is accessible, the amount of time it takes to respond to a request sent to the system, and the hardware is not enough, then there is a serious problem. The numerical value of the requests the system responds to within a certain period of time is important. If adding hardware can solve scalability problems, this can be a solution, is not enough, then there is a serious problem.