Horizontally Scalable Blockchain System Launches 'Flagship' Membership Portal
July 04 2018 - 7:59AM
ADVFN Crypto NewsWire
A horizontally scalable Directed Acyclic Graph
(DAG) blockchain system that aims to cater to consumer-grade
applications has launched the Orion membership portal where members
of its ecosystem can communicate and contribute to the network,
with the company announcing its DAG token has listed on
KuCoin.
Constellation Labs says the capacity of its network is
proportional to user adoption – with a partitioned consensus
allowing the network to scale the number of transactions per second
on an infinite basis. Reputation-based incentives are going
to be used to eliminate transaction fees for the blockchain’s
users.
Its membership portal, Orion, is described as
Constellation’s “flagship product.” A free tier of membership is
available for those who want to view the portal’s message boards
and various channels, and developers can stake DAG tokens in order
to access Orion’s premium features.
Constellation is currently preparing
to launch its permissioned testnet at the beginning of August – and
the start-up is accepting applications to run testnet nodes.
Participants have the potential to earn DAG tokens based on how
many transactions they validate during the testing period.
The company says there are other ways for developers
and community members to earn tokens, too. For example, rewards are
going to be offered to those who report bugs in the ecosystem – as
well as those who correct mistranslations in its white paper.
Brendan Playford, the chief executive of Constellation, told Cointelegraph: “We want to empower
our community to help shape, build, and grow the ecosystem
efficiently, while encouraging our developers and community members
to stake their tokens.”
A different kind of protocol
Constellation says it stands out from the crowd thanks
to its unique “Proof-of-Meme” protocol, which is used to achieve
consensus.
It ensures members of the ecosystem can help improve
and monitor the platform by harnessing the computing power of their
laptops, smartphones and tablets – rewarding behavior that improves
a node’s reputation in the system.
“The Constellation protocol aims to solve the primary
challenge of scalability in blockchain, providing a solution that
is highly resource-efficient and exponentially scalable, added
Wyatt Meldman-Floch, the company’s chief technology officer.
Constellation says it successfully raised $35.2 million during
its private presale back in January. In total, the company sold
more than 730 million tokens to accredited investors, funds and
institutional investors. Now, the start-up is preparing to perform
six token airdrops this year – the first of which will open on July
7.
“We are a meritocratic system which means that so long
as you’re providing value to the network, validating true
transactions, not causing Byzantine behavior, you will improve your
reputation school and therefore increase your likelihood of being
selected for consensus and then getting a reward,” the CEO
said.
Another way the company’s ecosystem takes a different
approach is through smart contracts, which are
deployed as “microservices.” Constellation describes them as
off-chain applications executing smart contract logic – processes
that can run concurrently. It estimates that its hylochain is
capable of processing 4,000 to 4,800 transactions per second for
every 1,200 nodes – and says that, for a million people, this would
equate to almost 4.5 million transactions per second.
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