I am back today with another question to challenge us

Question

I am back today with another question to challenge us

dag chads haha. So Polkadot has an event scheduled for the 15th of december introducing the so called "Parachains" which could revolut the crypto space we all know. This could usher in a new era of interoperability between different blockchains. Do our cross chain swaps with LTX and DAG have anything more than Polkadot in terms of technology?

#blockchain #constellation #cryptocurrency #english

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03.11.2021

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SethV · Accepted Answer

Cosmos, Polkadot, Avax, etc are aiming to solve interoperability by creating a network of Layer 1 to Layer 1 bridges and smart contracts. This makes them interoperable relative to themselves in that they are relegated to their particular data types and schemas. Constellation approaches interoperability beyond the scope of crypto alone and is solving it a layer below, at the DATA interoperability level. This is referred to as Layer 0. What this allows for is businesses to implement and integrate their native data and custom validation logic as a "state channel" which serves as an off chain data oracle. Think of each state channel as its own independent directed acyclic graph network. Each of these DAG state channels then converge into the global state, forming a directed acyclic Hypergraph. This allows for independent tokenomics to be configured that does not inherit the limitations of the tokenomics that a layer 1 chain introduces, commonly manifesting as exorbitant gas fees in Ethereum and others. Constellation decouples this and creates a new paradigm that is based on feeless transactions with a state channel's data validation throughput demands and the supply/availability of DAG to determine rewards provided to node operators and stakers. State channels can mint their own L_0 tokens and use that as a reward for DAG throughput. This architecture permits infinite scalability while the generative economics principles embedded into the network allow for sustainable and scalable tokenomics that aligns and adapts with the technical scale of the network itself. Apart from these properties, Constellation has created a unique consensus algorithm based upon reputation rather than stake (PoS) or work (PoW). This allows for dynamic multi-level partitioning of the network in a scalable and meritocratic way..mitigating many of the plutocratic issues that arise with other consensus algorithms. I go into more detail here: https://link.medium.com/NxCPjKNoRkb

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