Scalability remains one of the largest roadblocks across the blockchain environment. This problem inherently stems from what we like to call the Scalability Trilemma.
Degree of decentralization, security and speed represent the three fundamental attributes of scalability whereby most, if not all, tokens/crypto are only able to satisfy two to an acceptable standard.
In essence, the Bitcoin blockchain prioritizes a secure and decentralized network at the expense of slower block
timings utilizing the PoW consensus. At the present moment, bitcoin processes only 7 transactions per second.
Ripple, on the other hand, well known for being centralized due to it's large allocation of tokens for founders (subject
to price manipulation), boast security as well as cheaper and faster transaction speeds of about 1500 transactions per
second. EOS would be another example of lacking decentralization with only 21 block producers as compared to the
10281 nodes of bitcoin.
Being fast and decentralized, however, proves to be the worst attribute combination of all. As nobody in the right mind
would trust a network that has no integrity.
The Optimal token "The Goldilocks Zone" - This represents the ideal blockchain, with characteristics of being fast and
capable of large sums of transactions per second, secure in the form of resistance network threats such as the 51%
attacks, Sybil attacks etc and decentralised ensuring no single party or person could control or hijack it.
With those in mind, SOLO, a community driven project, has set it's goals on solving the scalability trilemma by being the most decentralised, pool resistant and scalable Cryptonote Adaptive privacy chain all while maintaining a secured state. In efforts to achieve true decentralisation, it employs solo mining(where every miner would have to have a full copy of the blockchain)and a slower emissions curve with no pre/flash-mine to prevent the centralisation of nodes, miners as well as token distribution.
Our recent integration of the Simple Extended Consensus Resolution or in short, SECOR, a consensus mechanism utilizing Uncle Mining tailored to decrease block timings while at the same time strengthening the network, equips SOLO with ability to push the secured scalable limit further and one step closer towards it's mission. With a friendly community, balanced objectives and focus on tech and growth, we believe pushing the limits of true scalability will help unlock blockchains potential where it matters the most.
Hardfork is expected to be implemented at block 227001 on April 10th 2019. With additions of the SECOR mining mechanism and Bulletproofs v2, SOLO-nites are only hours away from enjoying the upgrade to cheaper and faster transactions. Block timings will also been adjusted to 20 seconds as opposed to the 60 second block timings pre-fork while mining rewards will be calibrated accordingly and be set at 1/3 it's original pre-fork amount. This is turn is to maintain SOLO's slower emissions schedule, believing a steady growth of the community, devs and miners will ultimately have more upsides than downs.
So feel free to tell us what you think and join us our journey through the blockchain revolution.
SECOR : https://github.com/masari-project/research-corner/blob/master/secor/secor.pdf
Discord : http://discord.minesolo.com/
Reddit : https://www.reddit.com/r/soloproject/
Website: https://www.minesolo.com/
