Thursday, November 26, 2020
No menu items!
  • News
  • Blockchain
  • Contact Us
More

    VeChain and University of Oxford in Joint Research to Support Blockchain Industry

    Must Read

    Santiment: XRP Is Set To Surpass Ethereum in a Key Metric Maintained By ETH for Seven Months

    The cryptocurrency intelligence platform, Santiment, has indicated that the third-largest cryptocurrency by market cap, XRP, is set to surpass...

    Binance Announces Support for Spark Tokens Airdrop Planned By Flare for XRP Investors

    Binance, the arguably largest cryptocurrency exchange by trading volume, has announced the support for Spark tokens airdrop planned by...

    Ethereum 2.0 Now Ready To Go Live On 1st December with Over 700,000 ETH Deposits

    Over the past two days, there has been a remarkable increase in the commitment of the Ethereum community towards...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    Due to the importance of consensus protocols in the blockchain industry, VeChain and the University of Oxford have jointly proposed an evaluation framework for blockchain consensus protocols.

    This collaboration between the University of Oxford and VeResearch team brought about a technical paper titled, “AlphaBlock: An Evaluation Framework for Blockchain Consensus Protocols” for the evaluation of blockchain consensus protocols.

    According to the report, the “overall performance of Byzantine Fault Tolerant (BFT) consensus and Nakamoto Consensus (NC) is compared through the AlphaBlock framework.”

    VeChain and University of Oxford in Joint Research to Support Blockchain Industry

    Prior to this recent collaboration, VeChain and the Mathematical Institute at the University of Oxford have been working together as close partners to carry out research and provide independent scientific advice to support the blockchain industry at large.

    The Purpose of the Joint Research Work between VeChain and University of Oxford

    There is a need for this joint research work between VeChain and the University of Oxford because there are no established means to calculate the actual performance of a specific consensus design, which has contributed to the significant problem in the effort to push for the adoption of blockchain technology.

    According to the report, the joint research work is targeted at providing a framework for the evaluation of blockchain performance, adding that the proposed framework will serve as a highly potent tool for the blockchain industry and the academic world. It’s expected to evaluate the performance of a particular consensus algorithm using various algorithm settings and network conditions.

    With AlphaBlock, a proposed research work between VeChain and Mathematical Institute of the University of Oxford, blockchain experts would be able to test their consensus designs without absolute implementation.

    The report reads in part as follows:

    “In AlphaBlock, the topological graph model is used to represent blockchain nodes and communications among them. Based on the model, the researchers are able to quantify the communication cost and delay of each new block.

    “After that, they evaluate the throughput by analyzing how efficient the bandwidth is used and the latency according to the message delay, the block interval, and the number of rounds before the confirmation of a block. These two quantities are used as the main factors to evaluate the performance of a consensus design.”

    The report also added that the recent collaborative effort is one of the examples of VeChain’s leadership in the blockchain ecosystem.

    Conclusively, VeChain aims at extending the scope of Alphablock and further collaborate on other topics such as DeFi and blockchain economic models in conjunction with the University of Oxford.

    Join us on Twitter

    Join us on Telegram

    Join us on Facebook




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Santiment: XRP Is Set To Surpass Ethereum in a Key Metric Maintained By ETH for Seven Months

    The cryptocurrency intelligence platform, Santiment, has indicated that the third-largest cryptocurrency by market cap, XRP, is set to surpass...

    Binance Announces Support for Spark Tokens Airdrop Planned By Flare for XRP Investors

    Binance, the arguably largest cryptocurrency exchange by trading volume, has announced the support for Spark tokens airdrop planned by Flare Network for the XRP...

    Ethereum 2.0 Now Ready To Go Live On 1st December with Over 700,000 ETH Deposits

    Over the past two days, there has been a remarkable increase in the commitment of the Ethereum community towards the launch of ETH 2.0...

    CipherTrace Is Determined To Unravel Monero (XMR) Transactions Obscurity

    CipherTrace, a blockchain analytics firm, is developing tools to track the transactions of the world’s largest privacy token, Monero (XMR). And in less than...

    XRP Surged Over 130% in the Last Week, Far Outpacing BTC and ETH –Forbes Explains Why

    The Ripple’s digital token XRP has been exhibiting a price uprising over the last week. It has significantly outpaced the surging trend of the...

    More Articles Like This