SOME OF THE PROBLEMS IN BLOCKCHAIN TODAY

Transcription

1 BLOCKCHAIN EVOLVED

2 THE PROBLEM SOME OF THE PROBLEMS IN BLOCKCHAIN TODAY An overall lack of governance is one of the most challenging facets of current blockchain ecosystems Controversy regarding scalability and forking, as seen in both Bitcoin and Ethereum blockchains Although strides have been taken, there is still too much centralization within blockchains While blockchain technology solves many unique problems, it also lays bare vectors of attack that have persisted for years, such as sybil attacks.

3 GOVERNANCE WHAT IS GOVERNANCE? Distributed architecture Consensus protocol Cryptographic algorithm Data sharing Source code management That is, who has the right to lead the direction of the blockchain A decentralized system is NOT a disorganized chaotic system.

4 THE EVOLUTION AND PROSPECT OF BLOCKCHAIN THE EVOLUTION OF BLOCKCHAIN 2008: Satoshi Nakamoto introduces Blockchain 1.0 with Bitcoin 2013: Vitalik Buterin introduces Ethereum, and its capabilities for Smart Contracts, labeled as Blockchain 2.0 Blockchain as a whole has improved a lot since its inception, but there is still work that needs to be done.

5 INTRODUCING CYPHERIUM INTRODUCING CYPHERIUM The next evolution is Cypherium. Hybrid Consensus PoW/PBFT (BitCoin-NG/ByzCoin) Distributed Version Control Protocol Level Multi-Level Governance

6 HYBRID CONSENSUS Hybrid Consensus Cypherium is a highly scalable blockchain infrastructure based on hybrid proof-of-work and Byzantine fault tolerance consensus.

7 HYBRID CONSENSUS Cypherium decouples transaction processing and leader election

8 HYBRID CONSENSUS The leader node red proposes a block, waiting to be verified by validating nodes

9 HYBRID CONSENSUS If 2/3 quorum is reached, the block is accepted into the blockchain

10 HYBRID CONSENSUS The new block is broadcasted to all nodes

11 HYBRID CONSENSUS Honest nodes will reject messages from nodes without PoW

12 INTRODUCING CYPHERIUM WHAT DOES THIS MEAN? A highly scalable blockchain - thousands of transactions per second No fixed block size No minimum fees for smart contract execution No waiting on transaction confirmation Sybil attacks are practically impossible To the moon

13 DISTRIBUTED VERSION CONTROL Distributed Version Control Upgrading all nodes through distributed protocol. This is the embodiment of the foundation of governance model

14 MULTI-LEVEL GOVERNANCE Multi-Level Governance & Customizable Protocol Cypherium s governance is composed of multiple layers, Protocol level governance separated from application level governance Protocol layer decentralized; application layer customized Ready for high volume enterprise applications such as central bank digital currency

15 OTHER FEATURES Duo Sandbox Schnorr Signature Duo sandbox custom made for smart contract; one for testing and one for deployment to ensures security Implemented as ED Faster, smaller, and more reliable than the current ECC algorithm

16 HOW INDUSTRY EXPERTS SEE US THIS IS DEFINITELY NOT ANOTHER CRAZY IDEA

17 TEAM WHO ARE WE We are a dedicated team with backgrounds at Google, Amazon, Microsoft, and Tencent, etc. We have experience with cutting-edge subjects such as network security, cryptography, virtualization, AI, etc Our mentors are Bitcoin-NG s Emin Gün Sirer and Byzcoin s Bryan Ford We are passionate about blockchain technology and the necessity for scalable, decentralized blockchain

18 VALUE CYPHERIUM TOKEN COST Each transaction verification committee is consisted of 100 miners (3 33+1=100) In order to prevent Sybil attack, the electricity cost for each miner must be higher than 1 cents, which means the minimum cost of one Cypher is 1 USD PoW currencies dominate the list of top 10 cryptocurrencies world-wide BTC 45.6B ETH 21.3B BCH 5.7B LTC 2.2B ETC 1.4B DASH 1.4B XMR 0.6B

19 OFFERING ISSUING MECHANISM 100M 75M 50M 25M 0M Team Reserve 35,000,000 ICO 33,000,000 1st Year 32,000,000 2ns Year 50,000,000 3rd Year 25,000,000 4th Year 12,500,000 5th Year 6,250,000 6th Year 3,125,000 7th Year 1,562,500 8th Year and Up 1,000,000

20 TIMELINE TIMELINE Idea born Won 3rd place at the first ever blockchain hackathon sponsored by the US government Invited to Congressional Blockchain Education Day Private Placement ICO launch ICO ends, token listed in exchange Q Q2 Test net ready Main net ready

21 THANK YOU TO THE MOON!