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One of the main reasons was that its consensus mechanism used the longest chain to prove that it did not synchronize the transfer results and ensure that they would not go wrong. There will be a situation in this logic: the nodes in the system can collectively do bad things so that the correct transactions are not packaged. After that the transaction is broadcast to the network.
Telium the asynchronous model is more suitable for the transaction steps, it avoids a lot of communication in the network and at the extreme circumstances, for instance, when the bad guys in the system account for the majority, the system becomes an ineffective system. This is also the 51% double-spending attack that everyone often mentioned later, which does not conform to the spirit of the financial system.
They define the original assets as the native assets of the blockchain system, such as BTC for Bitcoin and ETH for Ethereum. Later, someone began to design the use of meta-assets as a means of production for mining, and proposed a PoS (Proof of Staking) consensus mechanism and its series such as DPoS variant, trying in this way to solve the PoW energy consumption and hardware consensus cost issues.
They can see that the consensus mechanism of this system often sacrifices a lot of decentralization. For example, EOS has only 21 “miners.” Although the Polkadot of cash has a variable validator set, whoever owns more meta-assets and supporters has a say in this chain. Participants who have fewer of both cannot even get the power to produce blocks. The near failure of EOS also proves that there are major problems with this approach.
The bottom layer Telium is based on a peer-to-peer (P2P, peer-to-peer) network architecture. Each node is equal to the other and provides network services together. There are no centralized service nodes and hierarchical structures in the P2P network. While providing services to the outside world, each node also uses the services provided by other nodes in the network, which has the characteristics of reliability, decentralization, and openness. The entire Qitchain Network is a collection of a series of nodes running by the set P2P protocol.
Telium life cycle of a transaction starts when it is created, and then the transaction will be encrypted by one or more signatures. These signatures mark the permission to use the transaction. A node verifies it until most nodes in the network receive the transaction, and finally, the transaction is verified by a mining node and added to a block on the Blockchain. Once the transaction is recorded on the Blockchain and confirmed by enough subsequent blocks, it becomes a part of the Blockchain and is recognized as a valid transaction by all transaction participants.