Avalanche Post-Consensus is coming! π₯π
ποΈ BIG NEWS! But what does that mean? π§
Here is a quick explanation! π§΅
1/
#XEC #eCash $XEC #Crypto #JustBuild π οΈ
ποΈ BIG NEWS! But what does that mean? π§
Here is a quick explanation! π§΅
1/
#XEC #eCash $XEC #Crypto #JustBuild π οΈ
We'll be rolling out "Avalanche Post-Consensus" soon -- which is running Avalanche on blocks.
Avalanche Post-Consensus brings 2 key benefits to the eCash network:
1β£ 1-block Finality β‘οΈπ³
2β£ 51% Attack Prevention πΊπ‘οΈ
Let's explore the benefits in detail! β¬οΈ
2/
Avalanche Post-Consensus brings 2 key benefits to the eCash network:
1β£ 1-block Finality β‘οΈπ³
2β£ 51% Attack Prevention πΊπ‘οΈ
Let's explore the benefits in detail! β¬οΈ
2/
1β£ 1-block Finality β‘οΈπ³
Finality is the assurance or guarantee that transactions cannot be altered, reversed, or canceled after they are broadcasted.
Businesses need to know exactly when a transaction is final and canβt be reversed.
3/
Finality is the assurance or guarantee that transactions cannot be altered, reversed, or canceled after they are broadcasted.
Businesses need to know exactly when a transaction is final and canβt be reversed.
3/
Traditional PoW requires waiting for multiple block confirmations before a transaction can be considered final.
With Avalanche Post-Consensus live on the eCash network, businesses (including exchanges) can then reduce their deposit confirmation requirement to 1.
4/
With Avalanche Post-Consensus live on the eCash network, businesses (including exchanges) can then reduce their deposit confirmation requirement to 1.
4/
This means that the time it takes for an exchange to credit a deposit will drop from an average of ~3.5 hours to just 10 minutes. π
This is a 95% reduction in the time required. Or put another way, 21x faster. β‘οΈ
5/
This is a 95% reduction in the time required. Or put another way, 21x faster. β‘οΈ
5/
Avalanche Post-Consensus provides certainty that transactions with 1 confirmation are final, allowing businesses to credit payments much faster (and with confidence). π€
6/
6/
2β£ 51% Attack Prevention πΊπ‘οΈ
The upshot is that eCash will have leapfrogged Bitcoin's security model by becoming immune to attackers' attempts to cause network disruptions via 51% attack as valid blocks can no longer be orphaned.
7/
The upshot is that eCash will have leapfrogged Bitcoin's security model by becoming immune to attackers' attempts to cause network disruptions via 51% attack as valid blocks can no longer be orphaned.
7/
51% attacks have been a worry for Bitcoin since the very beginning, which makes this a big deal. π
8/
8/
Once Avalanche Post-Consensus is live, eCash nodes will be able to connect to the network, find peers, & participate in Avalanche Post-Consensus - all in a permissionless decentralized manner. π
This milestone will mark the first public release of Avalanche on eCash. π₯π
9/
This milestone will mark the first public release of Avalanche on eCash. π₯π
9/
Beyond this, Avalanche (with PoS) will continue to improve to include the following key features:
1β£ Real-time Transaction Processing
2β£ Instant Transaction Finality
3β£ Staking Rewards
4β£ Dynamic Block Size
5β£ Dynamic Transaction Fees
6β£ Subnets
7β£ Fork-free Upgrades
10/
1β£ Real-time Transaction Processing
2β£ Instant Transaction Finality
3β£ Staking Rewards
4β£ Dynamic Block Size
5β£ Dynamic Transaction Fees
6β£ Subnets
7β£ Fork-free Upgrades
10/
Avalanche Post-Consensus is now incubating as the team readies it for release. βοΈ π
βΉοΈ Keep up with the latest updates as they happen on avalanche.cash!
11/
#XEC #eCash $XEC #Crypto #JustBuild π οΈ
βΉοΈ Keep up with the latest updates as they happen on avalanche.cash!
11/
#XEC #eCash $XEC #Crypto #JustBuild π οΈ
β’ β’ β’
Missing some Tweet in this thread? You can try to
force a refresh
γ
