DEMOCRATIC CONSENSUS: A COMPARATIVE INTRODUCTION TO THE GRAPHENE - - PowerPoint PPT Presentation

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Feb 04, 2024 347 likes •571 views

DEMOCRATIC CONSENSUS: A COMPARATIVE INTRODUCTION TO THE GRAPHENE BLOCKCHAIN RYAN R. FOX RYAN@RYANRFOX.COM https://linkedin.com/in/ryanrfox RYAN R. FOX RYAN@RYANRFOX.COM A COMPARATIVE IN INTRODUCTION TO GRAPHENE USING BITCOIN AS THE

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DEMOCRATIC CONSENSUS:

A COMPARATIVE INTRODUCTION TO THE GRAPHENE BLOCKCHAIN

RYAN R. FOX RYAN@RYANRFOX.COM

https://linkedin.com/in/ryanrfox

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RYAN R. FOX RYAN@RYANRFOX.COM

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A COMPARATIVE IN INTRODUCTION

TO GRAPHENE USING BITCOIN AS THE REFERENCE

Will compare:

Genesis State
Participants
P2P network
Consensus algorithm
Objects
Security
Performance

What Graphene Offers:

Democratic Consensus (Stake Voting)
High Performance FinTech Platform
Hierarchical Named Account Authorities
Decentralized Exchange
Smart Coins
User Issued Assets
Pegged Assets
Price Feeds
Referral System
Worker Proposals

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HISTORY OF GRAPHENE

Concept and original design: Daniel Larimer (2010)
Formed company: Invictus Innovations, Inc. (2013)
Distributed Autonomous Corporation DAC (2013)
Mined identity: Keyhotee (2013)
Momentum PoW algorithm: ProtoShares (2013)
Predecessor codebase: BitShares 0.9 (2014)

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A BRIEF OVERVIEW OF GRAPHENE

Toolkit for blockchain development
Developed by Cryptonomex, Inc.
Offered under MIT License
Download: https://github.com/cryptonomex/graphene/
Derived works:
BitShares 2.0

decentralized exchange (2015)

Steem

blogchain (2016)

PeerPlays

decentralized gaming (2016)

DISCLAIMER: RYAN R. FOX DOES NOT REPRESENT CRYPTONOMEX, INC. INFORMATION PRESENTED IS HIS OPINION

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GRAPHENE KEY DESIGN INITIATIVES

LEARN FROM BITCOIN, RIPPLE, LMAX EXCHANGE, ETHEREUM, ET AL.

Make PoS secure
Focus on speed and scalability
Make security approachable
Build a financial services platform

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GENESIS STATE

NOTHING | EVERYTHING INCLUDING THE KITCHEN SINK

Initial stakeholders
Consensus parameters
Reserve Pool
Puzzle
Rewards
Maximum supply

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BLOCKCHAIN PARAMETERS

FIXED | DYNAMIC

Tune running code
Proposal and Vote
Elected Committee
Rigid coded rules
Hard fork

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P2P COMMUNICATION

GOSSIP | PUSH

Rapid propagation
Receive message
Validate
Forward
Conversation
Query peer inventory
Request deltas
Validate

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CONSENSUS ALGORITHM

POW MINER | DPOS WITNESS

Election Round Production Validation

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BLOCK REWARD

ISSUE NEW BITCOIN | TAP RESERVE POOL

Blocks Probabilistic
Inflation Predictable
Blocks Prescriptive
Deterministic
Predictable
Inflation Fx ( Recycling Rate )

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VALUE REPRESENTATION

ADDRESS | NAMES ACCOUNTS & BALANCES

Bitcoin:

Identity and value hashed

into a ScriptSig

Distinct, secured by crypto
Difficult to read, compute
Balance sum UTXO

Graphene:

Identity is Named Account
Name ref. Account objectID
Distinct, deterministic
Easy to read, compare
Balance attribute of Account

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STRUCTURE: OBJECTS

HASH | OBJECT

Bitcoin:

Calculated hash of script
2 ScriptSig formats
P2PK
P2SH
Examples
P2PK=12C5rBJ7Ev3YGBCbJPY6C8nkGhkUTNqfW9
P2SH=342ftSRCvFHfCeFFBuz4xwbeqnDw6BGUey

Graphene:

Deterministic assigned Object
Space . Type . Instance
Space: Defines where used
Type: Classification of object
Instance: Unique Space.Type
Examples
1.2.x Users
1.3.x Assets
1.11.x Operations

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STRUCTURE: OBJECT STORAGE

HASH | OBJECT

Bitcoin:

Hashes stored in database
2 ScriptSig formats
P2PK = 20-bytes
P2SH = 32-bytes
Full hash transmitted on wire
20-bytes or 32-bytes

Graphene:

objectID stored in database
(Space.Type.Instance)=8-bytes
(uInt-8.uInt-8.uInt-48)=64-bits
Only instantID sent on wire
6-bytes

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TRANSACTION OPERATIONS

GRAPHENE TRANSACTION

Operation ID Amount Asset ID Amount Asset ID Memo Amount Op Fee From (Account ID) To (Account ID) Extentions Signed Transaction Transfer Operation

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STRUCTURE: ACCOUNT & AUTHORITY

Graphene:

Account
Authority Type
Threshold
Authorities
Key
Weight
Hierarchy within Accounts
Owner
Active

Alice

1.2.12

Balances

1.3.0 100.00

Authorities Owner

100% GHPDk…

Active

CORE

Weight 100% Threshold 50% Threshold 1.2.12

Alice

GHPYnJ… Weight 25% 1.2.12

Carol

GHPLzx… Weight 25% 1.2.12

Bob

GHPc8n… Weight 25% 1.2.12

Doug

Other Account Attributes

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MULTI-SIGNATURE TRANSACTION

M:N | HIERARCHICAL THRESHOLD

Bitcoin:

Assemble multisig address
M validator addresses
N required signatures
Pay: to new address
Spend: N signatures on Trx
Must bring keys together
Must present complete Trx
Compromise one, rekey all

Graphene:

Assign Authorities
Assign Weight
Set Threshold
Pay: to existing named account
Spend: Threshold of Authority
Propose Trx on chain
Add Signature Operation
If Threshold, Trx valid
Individual can update their keys
Authority tied to Identity

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MULTI-SIGNATURE TRANSACTION

REAL WORLD EXAMPLE

Corp

1.2.37

Active

50%

GPHb.. 40% GPHc.. 30% GPHd.. 20%

CEO CFO

Accounting

GPHf.. 10%

Bookkeeper

CFO

1.2.12

Active

100%

GPHc.. 90% GPHd.. 20%

CFO

CFO2FA

Account

1.2.12

Active

80%

GPHd.. 60%

Accounting

GPHf.. 30%

Acct2FA

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LIGHT WALLET DESIGN

Separate wallet Authorization from block Validation
Active Key in wallet
Connect via WebSocket to trusted node(s)
Send signed transaction

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A COMPARATIVE IN INTRODUCTION

TO GRAPHENE USING BITCOIN AS THE REFERENCE

Compared:

Genesis State
Participants
P2P network
Consensus algorithm
Objects
Security
Performance

Future Discussion Topics:

Decentralized Exchange
Smart Coins
User Issued Assets
Pegged Assets
Price Feeds
Referral System
Worker Proposals

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DEMOCRATIC CONSENSUS:

A COMPARATIVE INTRODUCTION TO THE GRAPHENE BLOCKCHAIN

RYAN R. FOX RYAN@RYANRFOX.COM