What key breakthroughs does BlockFinBFT introduce?
1. Leaderless consensus
STORE utilizes a proprietary leaderless consensus algorithm where all participants continuously propose & decide on transactions for the next block. This is more efficient than the costly leader election process that exists in traditional blockchains - participants also don’t have the risk of a potentially malicious leader.
Leaderless architecture allows for occasional downtime of some participants as well as for the network to make progress without stringent time & performance requirements.
2. Pipelined and parallel processing
Participants on the network form a two-tier network with each tier performing specific tasks, namely;
- Tier 1 STORE miners who run transactions / apps & provide compute resources
- Tier 2 Cloud miners who provide distributed & secure storage services
This segregation allows for different steps in the consensus process, allowing them to run “in parallel” and resulting in superior throughput (transactions per second). The following diagram illustrates how this process takes place:
3. Secure containers
A secure container is a lightweight, executable software package that has been isolated from other software or processes running on the same virtual or physical host.
STORE aims to simplify app development by allowing developers to use languages & tools of their choice.
The protocol enables existing web or enterprise apps to run instances in secure containers, meaning there is no need for app developers to rewrite them in custom blockchain-specific languages.