Altcoins Talks - Cryptocurrency Forum
Further Discussions => Blockchain Technology => Topic started by: cryptomarcianos on August 11, 2020, 04:55:56 AM
-
Finally there is a project that is bringing Finality , and not only are they bringing it, one can also borrow it through their novel FaaS ( finality as a Service )
It is certainly a major challenge to engineer a high assurance implementation of a finality layer such as Afgjort and execute it over a blockchain protocol with a large enough user base (and a proper stake distribution) guaranteeing that less than one-third of the committee is malicious.
Concordium claims it's engineering team is tackling this challenge, their researchers are already hard at work on one of the most innovative features of the Concordium blockchain: Finality as a Service (FaaS).
According to them, Concordium’s FaaS will make strong finality guarantees accessible to third party decentralized applications without the need for their users (or operators) to execute Afgjort. Concordium’s FaaS will allow third-party applications to submit data to be finalized by Afgjort running on Concordium’s blockchain.
For example, a third-party blockchain protocol can submit block hashes to have its own blocks finalized by Concordium’s FaaS.
Alternatively, a mission-critical third-party smart contract conducting high valued financial transactions can submit transaction data and smart contract states for FaaS finalization.
Once these data are finalized by FaaS, they enjoy the same strong finality guarantees provided by the Concordium blockchain itself. More importantly, it does not matter that the third party application has a small user base or that it cannot guarantee the selection of a committee with less than a-third malicious users since the finality guarantees of FaaS will be provided by Afgjort being executed with the full resources of the Concordium network.
Do you think this is a technical feat? I haven't come across another blockchain project do this yet.