Blockchain, mostly known as the backbone technology behind Bitcoin, is one of the hottest and most intriguing technologies currently in the market. Since 2013 Google searches for “blockchain” have risen 1900%.
Similar to the rising of the internet, blockchain has the potential to truly disrupt multiple industries and make processes more democratic, secure, transparent, and efficient.
Entrepreneurs, startup companies, investors, global organizations and governments have all identified blockchain as a revolutionary technology.
Some of the benefits of the blockchain technology include:
Disintermediation and trustless exchange, meaning that two parties are able to make an exchange without the oversight or intermediation of a third party, strongly reducing or even eliminating counterparty risk.
Empowers users in the sense that they are in control of all their information and transactions. High quality data, durability, reliability and longevity. Also, process integrity, transparency and immutability, ecosystem simplification and finally, faster transactions
The Problems of Blockchain
Resolving challenges such as transaction speed, the verification process, and data limits will be crucial in making blockchain widely applicable.
There are basically two problems facing every blockchain:
Interaction with other blockchain: despite the over 2,000 different coins and tokens in existence, not a single blockchain platform allows the migration of one blockchain to another blockchain as a fully functional sidechain.
So there is the problem of sustainability of a blockchain which is developed by a small group of people. It also limits the prospects of a blockchain, making it dysfunctional in the end.
The second issue that confronts every blockchain is wide spread adoption – the pertinent question has always been that how many of the current developers have began building their applications making use of the established blockchain architecture whether for file sharing or for social media or for any other purpose.
Elisia as the solution
The project makes use of different kinds of protocols like Proof-Of-Stake, Proof-Of-Work and a host of others.
In order to protect the Blockchain’s main chain from being corrupted by the side chains, the team behind Elisia has proactively engaged what is known as quantum resistance ledger system.
Winternitz Ots+ Algorithm
This system is very strong and not forgeable under adaptive chosen message attacks when using a pseudo random function and a security proof can be calculated for particular functions. It takes away the need for a collision resistant hash function family by carrying out an equally probable walk through the function as against the simple iteration.
What are the security measures in place?
In the creation of the ledger, the brains behind the project underscored the need for the cryptographic security of the signature of the scheme to be guarded against established and quantum computing spike whether at the moment or in the future.
A very elaborate and deliberate asymmetrical hypertree signature scheme made up of chained XMSS tree is under way. It has double benefits of using a grounded signature scheme and allowing a whole lot of ledger addresses with the capability to sign transactions.
All this is possible as it also avoids a lengthy pre-computation hiccups associated with big XMSS constructions.
The Blockchain Architecture
Elisia plans to unveil its main net with 51 block producers powered to process the transactions. In order to have a widespread agreement the block producers are elected into a round of 51, such that every producer has one block for one round and is given reward based on the validation of transactions that come in and the production of the block of transactions.
It is in a way that a block given by a producer is validated by the next, followed by the next one and so it continues. Once it is not validated, building on it is not possible and the process is stalled.
When a block gets an acceptance by a required quorum of producers it is said to be unchangeable and the series of immutable blocks becomes a checkpoint ultimately.
ELISIA FEATURES
Speed
Indeed, currently there are so many platforms that provide very high speed of transactions, but they take advantage of this transaction speed feature by having to pay shipping costs! Do you need a fast transaction but it's free? Elisia is the right choice!
Free
There are no fees for using this platform! This not like other projects that only rely on fast transactions but still they will get income from the features of the transaction! Elisia 100% free will not be charged any fees in carrying out fast transactions like a light!
DAPPS
You don't need to have very high knowledge to make DAPPS, you can make this DAPPS only with the knowledge you have!
Problems that will be faced
Any technology and any sophisticated will get a problem that will occur in carrying out the project. Following are the problems that will be faced by each blockchain, there are two problems found by the ELISIA team on the blockchain technology that was developed.
Troubled In Other Blockchain Interactions.
From CoinMarketcap's data, there are 2000+ coins and tokens which are basically different. In this difference the problem arises because they can't interact with other blockchain (managing their own platforms) this they will not be able to move from blockchain A to blockchain B, if they force migration then it will be very good and will be called sidechain with very full function.
Very wide Applications
Currently there are very many platforms that utilize blockchain technology, for example the steemit platform that has been running for a long time and they will also found the success from their social media platforms but this does not allow application migration from one blockchain to another just by one click.
QUANTUM RESISTANCE
Elisia Guaranteed from the threat of quantum computing because Elisia uses DPOS,
But Elisia also does not guarantee computational threats to protect Elisia's main chain. The presence of a chain has little chance of damaging the main chain.
But this Sidechain network adopted protocols such as.
Proof OfStake
Proof Of Work
Etc.
KYC (KNOW YOUR CUSTOMER)
You only use two kind of identification's form
In order for Elisa to recognize the faces of all investors, she will need your photos.
All data must be correct and must be the same (name and confirmation address)
ELISIA: THE REVOLUTION OF BLOCKCHAIN
Elisia is a revolutionary network of blockchains which intends to resolve the issues and create a high-performance blockchain which is scalable, lightning speed with no fee transactions, and allowing potential users to develop Decentralized Applications (DAPPS). This is achieved with a consensus mechanism that is based on the Delegated Proof of Stake (DPoS) chains with other sidechains comprising of different algorithms like proof of stake (POS), proof of work (POW) and delegated proof of stake (DPOS) etc. Elisia eliminates the mistakes of its predecessors, solving the problems of scalability and increasing transactions per second, as well as bringing blockchain technology closer to mass adoption.
Elisia aims to provide a user-friendly platform to increase user adoption of blockchain technology as a whole. Elisia platform built on top of a highly secure blockchain, integrating the mixture of different technologies. At Elisia, all crucial integration of blockchain technology service is ever on their fingertips. Elisia's team of experts works day and night to provide its clients a lifetime free flowing blockchain technology using the best decentralized tools available.
Elisia is scalable enough to sustain active operation of thousands of industrial grade DApps at the same time, while the military-grade security of the Elisia Platform ensures the stability of the network. Furthermore, each transaction within the Elisia Platform, is free of cost. There are no hidden charges involved. The transactions promptly arrive at the desired destination at a rapid speed.
More Information :
WEBSITE : https://elisia.io/
TELEGRAM : https://t.me/elisiaio
FACEBOOK : https://www.facebook.com/Elisia-199175400981031/
TWITTER : https://twitter.com/Elisiaio
ANN : https://bitcointalk.org/index.php?topic=5066777.0
My BTT https://bitcointalk.org/index.php?action=profile;u=2002675
