The Avalanche is Consensus Protocol, Not PoS, or PoW!
Hello, Blockchain Enthusiasts!
In my first article, I said that the Ava Network couldn’t write an essay, but it can be a series of articles. We didn’t have room to talk about the Ava project’s backbone, the Avalanche. In this article, I would like to share my thoughts about Avalanche in particular. And I want to start by respecting labor again. I have significantly benefited from the Avalanche review of Aytunc Yıldızlı. Also, let’s begin writing by saluting the Istanbul Blockchain Women initiative, which pioneered the blockchain field for women in my country.
The birth of the Avalanche began in May 2018 when an anonymous group calling themselves Team Rocket presented whitepaper. Prof.Dr.Emin Gun Sirer presented the Avalanche at MoneyConf in June 2018.
The AVA Network is the first blockchain network to use Avalanche, which can be called the third generation consensus protocol in Blockchain terminology.
What is Avalanche?
Before we move on to explaining the Avalanche’s consensus model, maybe what is consensus and what is its importance in blockchain technology? you have to answer your questions. The basic logic of blockchains is the realization of a unique value transfer (digital currency or data) between parties without requiring an intermediary. Consensus protocols are the assurance that this transaction created between the two parties will take place without any financial institution. They are Reconciliation protocols that enable the safe transfer of digital money between two people. So the consensus protocol is the Blockchain network itself. On my way to the avalanche, I’d like to talk about past consensus models. But first a small note about a misunderstanding: many people interested in Blockchain technology think PoW and POs are the compromise protocol. PoW and PoS are mechanisms in cryptocurrency processing specifically designed to protect against attacks such as Sybil and 51%. So PoS is not a consensus model.
The two basic consensus protocols used prior to the Avalanche, namely the classical and Nakamoto consensus protocols, had significant shortcomings. In classical negotiation, first of all, verification of all nodes in the network had to be taken to verify operation. This limited the number of participants. The speed problem, scaling problems, in short, lack of real-time processing or data transmission of past consensus models were creating serious problems ahead of the adoption of blockchain networks. Furthermore, the biggest obstacle to the sustainability of these network reconciliation protocols was the huge energy requirement of PoW mining. PoW verifications requiring as much energy as a country’s electricity were disrupting the decentralized structure of the network through the formation of mining pools, while at the same time creating dangers that could lead the network to consensus in its desired direction with 51% malicious verification. In order to overcome these problems, the vast majority of new projects produced tried to make improvements to the second layer instead of making changes to the first layer. But how long is it possible to sustain a body with muscles that have a problem in its spine?
The Avalanche protocol is oriented towards the first layer, the backbone of the network, as opposed to the projects that are trying to overcome the problem of scaling and final approval with improvements in the second layer that we have encountered a lot recently.
As you know, the core of distributed ledger technology is decentralization. Validators have a key role in the transfer of a value running on the chain. In the metastable model of the Avalanche protocol which is validated by random sampling, process validation becomes final if the majority of verifiers sample the approval of the process to be accepted. Natural result; if there is no conflict in the process, the finalization is significantly accelerated. It is this architecture that makes the Avalanche superior according to Nakamoto and classical reconciliation protocols. In this case, the final approval time of the transaction is reduced and real-time transaction approval can easily reach. This undoubtedly means blockchain at the speed of the internet. It means faster approval time (1700 transactions per sec.) than Visa. In short, the Bitcoin network (7 transactions per sec.), the Ethereum network (15 transactions per sec.), PayPal’s (193 operations per sec.) against their speed, 6,500 operations per second can be performed on AVA Network. This is the revolution that the Avalanche protocol has created in blockchain technology.
One of the important differences of the Avalanche from the first two reconciliation protocols is that it uses PoS proof. In PoS systems, the network has a verifier with staking the number of wallets in which the utility token is held. One of the important advantages of Proof of Stake verification, which is spread on a very large scale, is that the cost of a 51% attack is very high. Because in order for the attack to succeed, the network must stake 51% of its total token, which means it must collect it in its wallet, which makes the hacking it is trying to do meaningless. If we take a collective look at this revolutionary protocol that makes the Avalanche unique;
Features Of The Avalanche Protocol:
1. The Avalanche protocol solved the problem of scaling. In most modest terms, it has 10k TPS processing power. (Testnet at the NewYork Blockchain event measured 6500 TPS.)
2. The final approval period, i.e. the finalization time of the value transfer, is measured in seconds. Transfers in the PoW system, sometimes waiting days for approval for Miner approval, take place in the POS in a matter of seconds.
3. In the Avalanche protocol, affirmation is made according to randomly selected nodes, i.e. the absence of a leader, the fact that each node has the same proportion of say comes from the egalitarian architecture of the reconciliation protocol.
4. The Avalanche compromise protocol is 51% resistant to attacks. A node must accept two thoughts at the same time in his affirmation, which is impossible.
5. Another important feature that makes the PoS system sustainable is that Pow needs very expensive hardware devices and because of its high electricity consumption, POS works with nodes that do not require special devices.
Let me just write one sentence in summary. This article is not finished. There are many features to be written for the Ava Network on which avalanche is based. There are many remarkable features to be written for the Avalabs Team, one of the project’s architects. Then let’s say we meet at AVA Network3-
Thank you so much for reading it.
Links for Ava Network reviews:
* Website: https://avalabs.org/
* Technical review: https://arxiv.org/pdf/1906.08936.pdf
*Discord: (devs) · https://discord.gg/ccc8vEP
* GitHub Repo: https://github.com/ava-labs/gecko
* Documents: https://docs.ava.network/
* Developer Accelerator Program: http://avalabs.org/dap
* Telegram: https://t.me/avacoin_official
* Telegram announcement: https://t.me/AVA_announcements
* Linkedin: https://www.linkedin.com/company/ava-labs
* Reddit: https://www.reddit.com/r/ava