A Superior Smart Contract Platform

Smart Contracts

We’ve just established that blockchain technology is useful for storing data of all types. What if the data stored in a block is computer code? Congratulations, you now understand smart contracts!

Smart Contract Platforms

Smart contract platforms are the fabrics upon which decentralized applications are built. These platforms are decentralized and have built-in virtual machines — allowing them to both store and run smart contract code. Here are some of the most commonly used platforms:

Ethereum

Ethereum was the first smart contract platform and is attempting to be the ultimate software platform in the years to come. Currently, Ethereum has the most dApps built. It incorporates a simple and powerful virtual machine, powering all of the dApps on its platform. The EVM is Turing complete, meaning it can solve any problem given enough time and computing power. Each transaction run on the Ethereum network requires a fee to be paid, referred to as “Gas”. Fees are dependent on the amount of code required to run. Gas prices are set by the Ethereum network congestion and have recently risen to levels that render the entire network almost unusable. Basic transactions such as sending coins have cost over $10 — Large fees deter smaller investors and users and are a major roadblock to smart contract adoption, and limit their feasibility.

EOS

EOS is also attempting to become a decentralized application network of smart contracts, and it claims to have a better capacity to scale transactions. Also, the EOS network has plans to remove fees from its network entirely. Rather than pay for an individual transaction, the EOS network allocates resources to users and developers based on their stake in EOS coins. Essentially, users are entitled to a certain bandwidth based on the number of EOS coins they own.

Tron

Tron has been called a clone of Ethereum, but in reality, its method of designating network resources is more similar to EOS. Tron’s protocol distributes its resources among TRX holders, similarly to EOS, and has its virtual machine that executes programs on its network of public Tron nodes. Tron’s self-declared goal of “decentralizing the internet” still has a long way to go, but they have a 5 stage plan in the works. The Tron Network is steadily growing, but negative headlines have hampered its success

A New Blockchain Architecture Designed to Scale the Crypto Economy

Introducing Graphene

Graphene is a brand new blockchain architecture built with sharding technology and the CASPER consensus protocol. Its key feature is its lightning-fast execution and massive throughput of up to 100,000 transactions per second — making it the scalable solution that the industry needs to grow and meet its potential. Graphene was written “Go” — a minimalistic, high-performance language that executes code at a superior rate to alternatives like Java or Python.

CASPER Protocol

CASPER is the consensus protocol of choice for Graphene to mint new blocks. This protocol utilizes “validator nodes” to place security deposits (in the form of GFN tokens) to have the right to produce new blocks on the GFN blockchain. Validators are incentivized to produce correct blocks because if an “invalid” block is incorrectly deemed valid by a validator, the security deposit is lost and that node loses its privilege to participate and is banned from the network. This roots out bad actors from the network via a free market, economic incentive.

Conclusion

The powerful combination of technology makes Graphene superior to all competitors. It aims to finish what Ethereum started, building on, and adapting to smart contract technology to meet the industry’s growing demands. Perhaps the best part about Graphene is that the protocol itself is composable — meaning that its developers can dynamically adjust to the market, adding and removing features as necessary via sharding technology. This ensures that Graphene will always be relevant, and makes it much more appealing to businesses and institutions who wish to “smarten up” their systems, as Graphene can custom tailor blockchain solutions to fit their needs. Graphene can do it all. It is the smart contract solution of the future and will be the backbone for mass adoption.

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Scalable sharding Blockchain written in Go. Smart Contracts, Dapps, DeFi. Interoperable. Customized shards optimized for different use cases. Do it all.

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Graphene

Graphene

Scalable sharding Blockchain written in Go. Smart Contracts, Dapps, DeFi. Interoperable. Customized shards optimized for different use cases. Do it all.

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