Democratizing IoT data with infinitely-scalable concurrent contracts, trustless light nodes, and encrypted data markets on top of block lattice.
Distributed ledger technologies (DLT) can address many of IoT's challenges, making them perfectly complementary. The bad news is, current DLT's foundation is weakened by numerous flaws, making it poorly-suited for large-scale IoT applications, which is why we built Taraxa.
Inspired by the principles of software transactional memory (STM), Taraxa achieves node-level concurrency by speculative parallelization of smart contract calls, with conflict minimization achieved from built-in concurrent data structures.
Each contract call is initially ordered by sets by the contract creator or its delegate, then randomly assigned to a full-node initial processor weighted by historical reputation. The assigned node acknowledges, processes, broadcasts the results which are validated by the rest of the network.
IoT devices are constrained by their processing, memory, and bandwidth limitations. Instead of making them blind puppets of full nodes, Taraxa has created the first practical trustless light node to make devices fully independent and autonomous in their trading decisions.
Conceptualization, begin research
Received seed funding from angel investors
Professor Maurice Herlihy signed on as principal scientific advisor
Completed first draft of the whitepaper
Reached preliminary agreement with several key ecosystem partners