There are many different blockchain architectures and each has been made with a particular focus in mind. Sharding in Essentia creates a whole set of “Essentia’s” that run side by side and can transfer data between them. This allows for significantly increased throughput and security.
Blockchains based on a top of third-party “PoW base”, however do not enjoy these benefits. Essentia embodies the technology and tools that allow user, developers, and organizations alike to safely use cross-channel transactions between Essentia and other blockchain projects using smart contracts and decentralized applications.
The Essentia PoS mechanism combines PoS consensus and Byzantine fault tolerant consensus theory. The modular structure of Essentia allows you to modify and expand the functionality of the current blockchain. This feature will allow Essentia to always stay up-to-date with the latest technological developments.
Essentia uses a decentralized Kademlia DHT network architecture and a Zero-Knowledge authorization protocol, which avoids common blocking attacks (51% attack and cartels), as well as DDoS attacks on DNS-Seek nodes and MITM key exchange during authorization.
Essentia’s performance is powered by a deep modification of the algorithms using hardware and system which is the processing of one data element for one instruction (SISD), and the processing of several data elements for one instruction (SIMD). Also, data structures are optimized and data is split into shards.
Essentia is a modular decentralized system of interactions and data management , which is based on a hybrid PoW/PoS consensus protocol. The use of a hybrid system provides greater safety and stability. Large mining pools have zero chance of gaining too much influence over the network (i.e. a 51% attack) as the extracted block is checked and signed by randomly selected PoS voters. This approach will detect and prevent unwanted behaviour by bad actors.
A conspiracy between PoW and PoS miners to overtake the network will also be impossible, since voting cards are selected only after the block is created. A conspiracy between PoS miners themselves is also highly improbable, since the choice of PoS for voting occurs randomly using a crypto-stable generator.
The likelihood that the system would randomly select several tickets belonging to one group, from the large pool of Essentia PoS miners, is negligibly small. Even if this were to happen, each transaction needs to be checked at least twice.
Essentia consists of three main components:
- Essences: contain grouped entities and associated data and services. They can consist of individuals, companies, groups or organizations. Interaction between them is carried out with the help of subIDs, permissions and smart contract self-amendment.
- Synergies: allow interaction between various platforms, resources and modules of the system. This component is governed by PoS-consensus.
- PoW Miners: create new blocks. Can be grouped into mining pools through the Supernode mining pool service.