Since I am still waiting for my internet connection to recover I thought that I could at least write down the basic ideas behind the Multiverse consensus:
Blockchain tracks a single ledger state of a single longest chain.
Blockchain tracks a single ledger state of a single longest chain.
Blocks are only valid if they contain no double spends and the block producers act as gate keepers who control which transactions are added to the ledger state. Nodes track the "outcome of consensus".
In a DAG based DLT like the one used by IOTA there are no block producers ...
In a DAG based DLT like the one used by IOTA there are no block producers ...
... and anybody can add anything to the underlying data structure at any given time without asking anybody else for permission - even double spends. Every double spend introduces a different version of the ledger state that might or might not be compatible with other ...
... versions introduced by other transactions. IOTA has developed a data structure - the parallel reality based ledger state - that allows us to efficiently track all of these different versions (realities) simultaneously. It tracks the ledger state "before consensus".
Since there can be double spends in the underlying data structure, IOTA similarly to other DAG based DLTs uses a voting mechanism where nodes exchange their opinions to come to an agreement which transactions are supposed to be "accepted" by the network.
Due to our unique ledger state, IOTA in contrast to other DAG based DLTs doesn't have to vote on non-conflicting transactions but only on the conflicting ones which significantly reduces the message overhead.
Multiverse consensus now goes one step further and utilizes the ...
Multiverse consensus now goes one step further and utilizes the ...
... underlying data structure itself as a voting mechanism. Every transaction that is issued by a node already contains the opinion of that node since it spends certain funds that belong to a certain reality and it also approves 2 or more other transactions in the DAG which ...
... are also part of a certain reality. We therefore already know the opinion of the issuing nodes without having to ask them. This allows us to get rid of the additional voting mechanism which turns the message overhead for voting to 0.
This is equivalent to the ...
This is equivalent to the ...
"original vision" of IOTA where the only thing that nodes have to do is to issue transactions and consensus is achieved automatically.
To secure the network, nodes with a lot of weight in the consensus process can every now and then send a single transaction that gets ...
To secure the network, nodes with a lot of weight in the consensus process can every now and then send a single transaction that gets ...
... replicated via gossip instead of having to answer to queries of a potentially unbounded number of other nodes. This is not just much more efficient but also much more secure since every node will have the same perception of things and nodes can never ever come to a ...
... different conclusion.
This is essentially the basic idea behind Multiverse and the reason why it is named the way it is.
This is essentially the basic idea behind Multiverse and the reason why it is named the way it is.
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